Determinants of Tourism Crowdfunding Performance: An Empirical Study

Abstract

This study illustrates the determinants of the crowdfunding performance in the tourism field. Drawing on a dataset of 1,807 projects from an online global crowdfunding website, this study identifies a series of factors that influence fundraising performance. Results indicate that all-or-nothing projects with a more charity-oriented theme, more high-quality images in description, and a smaller funding goal will generate better fundraising performance. Moreover, an inverted U-shaped relationship between perk scales and performance is identified, which indicates that the effect of perk scales decreases when the number of perks increases to a certain level. In addition, the number of backers and the volume of reposts in external social networks are positively related to the tourism crowdfunding performance. These results offer insights into the frontiers of tourism crowdfunding, and shed light on the general ways for project creators to obtain more funds in the tourism crowdfunding projects.