The factors affecting Visitors' Spending on Local Festivals by applying the Tobit Model -Based on Rice Festivals in Two Regions-
Tobit 모형을 이용한 지역축제 방문객의 지출 영향요인 -두 지역 쌀 축제를 중심으로-

Un-Il Baik
2012 The Journal of the Korea Contents Association  
The purpose of this study was to determine the impact in visitors' spending on two separate local festivals, and to present the improved market strategies to attract visitors to revisit the local festivals. This study was also intended to suggest the ways to increase the competitiveness and revitalize the local festivals by improving the existing attractions and creating new attractions based on the visitors' evaluation. On the purpose of the study, we studied the visitors of two local
more » ... two local ricefests, Icheon Rice Cultural Festival and Rice Festival in Jincheon Chungbuk, and estimated the determinants influencing the visitors' spending to the festivals by applying Tobit model. Finally, to estimate the behavioral differences in visitors of the two festivals, we compared the estimated determinants for the visitors of each festival by using Log-likelihood Ratio, and analyzed the differences in the factors influencing the visitors' spending. Summarizing the propensity of visitor's spending to local festivals, visitors of two rice festivals buy or tended to buy things on impulse. Therefore, festival industry needs to take measures to efficiently accommodate their expenditures from the stage of designing festivals. ■ keyword :|Local Festival|Tourist Expenditures|Tobit Model|
doi:10.5392/jkca.2012.12.09.479 fatcat:3ydrsjxfkvc5rezac3txvq46qm