Abstract

The purposes of this study are to estimate the economic value of marine sports using CVM and to present the validity of investment in marine sports by the government and municipalities. Also, it is to provide the fundamental data to identify ways to increase the economic value of marine sports. In order to accomplish the study purposes, the study employed a CVM survey method with a total of 409 B metropolitan city residents over 20 years old who could have the capability to pay tax. The data were analyzed through SPSS 22.0. A binary logistic regression was modeled with a dichotomous dependent variable, willingness to pay (WTP). The independent variables such as gender, age, education, income, residence, experience and interest were input in the model. The economic value of marine sports was also estimated by using a model suggested by previous studies for CVM. Accordingly, following main findings are derived from the study. First, the logistic model for examining WTP determinants was statistically significant. Χ²(16, N=409)=57.120, p=.000 Cox and Snell R² and Nagelkerke R² were reported as .169 and .226 respectively. So, the model accounted for between 16.9% and 22.6% of the variation in WTP. Among the independent variables, gender, age, income, and interest were found to be the significant factors to WTP. Second, the mean amount of WTP was calculated as 2,191 won per person and the percentage of WTP was 50.7%. The annual economic value of marine sports was estimated as 18.95 billion won and the total value was 94.75 billion won. For non-payment reasons, ‘No financial leeway’ showed the highest frequency, followed by ‘No thought’, ‘Complaint on improper payment method’ and ‘High recommended amount’.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.