Abstract

The objective of this study was to investigate the determinants of recreational boater expenditures on trips to help generate strategic insights on marketing for private and public sectors in boating businesses. Tobit analysis was applied to data from the 1998 Michigan boating survey. Boaters’ sociodemographic and geographic characteristics, travel distance, type of destination, and trip patterns were important determinants of total expenditures on boating trip. However, the importance of these factors varied by type of spending: restaurants, groceries, boat fuel, auto gas, and shopping/entertainment. Decomposition of the tobit marginal effects indicated the market participation response was more important than the quantity factor.

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.