Contingent valuation and motivation analysis of tourist routes

Abstract

The purpose of this research is to determine the economic value assigned to the historical heritage of Valdivia (Chile) by tourists visiting the city. For this, the contingent valuation method is used, proposing a scenario of guided tours suitable to attempt to evaluate physically dispersed urban heritage which is also difficult to define as a tourism product, given its diversity. A double-bounded dichotomous choice format is employed to formulate the valuation question, and willingness to pay (WTP) is estimated using parametric techniques. The study is complemented by segmentation analysis for the main reasons why tourists visit the city of Valdivia, applying the contingency tables method. The results suggest that there is no statistically significant difference in the WTP for the three historical and cultural routes offered and show a higher WTP for foreign tourists compared with domestic tourists as well as for those with higher incomes. Moreover, segmentation analysis shows that the level of education and origin of the tourists interviewed are significant variables in characterizing the reason for their visit.