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Factors Influencing Willingness to Pay a Price Premium for Travel Products of Social Enterprise

KIM MIN HYUNG 1 Hwang, Yeong-Hyeon 1

1동아대학교

Accredited

ABSTRACT

This study aims to explore the willingness to pay for tourism social enterprise's travel products and to identify factors influencing the intention to pay additional expense for the product. For empirical study, a survey was conducted during the period from March 24 to April 6, 2015 in Busan, Korea and 406 samples were used for the final analysis. The results indicated that about 40% of respondents were willing to pay additional expense for the travel product of tourism social enterprise. Results of a dichotomous logit analysis indicated that potential tourists’ intention to pay additional expense for the products of tourism social enterprise is significantly influenced by age, marital status, recognition of tourism social enterprise, emotional consumption value and rarity consumption value. For significant consumption value, potential tourists with higher emotional value and rarity value show more tendency to pay additional expense for social enterprise's travel products. Practical and theoretical implications of the results are addressed with the directions for future study.

Citation status

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