This study investigate the determinants of visitor expenditures on a local festival to help generate strategic insights on marketing for private and public sectors in event business. Tobit model was used to analyze the data from the 2001 Hampyong Butterfly Festival survey. Visitors’ sociodemographic characteristics, travel distance, type of visit, and trip patterns were important determinants of total expenditures on the trip. However, the importance of these factors varied by type of spendings: groceries, restaurants, souveniers, ticket, and fare. Decomposition of the Tobit marginal effects indicated the market participation response was more important than the quality factor.