Abstract
Purpose: The purposes of this study are to estimate the economic value of a marine healing project using the contingent valuation method (CVM) and to present the validity of investment for government and municipalities in marine sports and tourism.BR Method: In order to achieve the purpose, this study used CVM to a total of 297 residents of B Metropolitan City over the age of 20 who were able to pay taxes. Th deata were analyzed through SPSS 24.0. A binary logistic regression model was conducted with a dichotomous dependent variable, willingness to pay (WTP) and independent variables such as demographic data andn tierest, support, and awareness of the relevant policy were input in the logistic model. The economic value of marine healing project incorporating marine leisure business was also estimated by using the CVM model suggested by previous studies.BR Results: The following main results were derived from this study. Firts, the logistic regression mode l for analyzing WTP determinants was statistically significant, Χ²(31, N=297)=79.781, p=.000. The model explained between 23.6% and 31.5% of the variation in WTP. Amogn the independent variables, education, occupation, income, and support in the policy were foundto be significant factors to WTP. Second, the amount of WTP mean was calculated as 5,167 won per person and the percentage of WTP was 52.5%. The annual economic value of the marine healing project was eismt ated at KRW 41.948 billion. For nonpayment reasons, ‘No thought’ was most frequently mentioned, followed by ‘No financial leeway’, ‘Lack of fairness in payment’, etc.BR Conclusion: Therefore, this study shows that higher public goods value is estimated if a project is carried out in a form fused with tourism for the purpose of healthcarbe y using these marine contents rather than simply enjoying tourism.
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