This study attempted to assess the amount of WTP to gain admission to a cave called Daegumgul where it was newly opened to the public in June 2007. This study was undertaken nine months ahead of the opening to estimate the admission price of the cave ...
This study attempted to assess the amount of WTP to gain admission to a cave called Daegumgul where it was newly opened to the public in June 2007. This study was undertaken nine months ahead of the opening to estimate the admission price of the cave through the contingent valuation method (CVM). In addition, this study identified characteristics of cave tourists, their belief in value, their motivation to make a cave tourism, intention to revisit and satisfaction level. Among many findings of this study, some interesting results are as follows. The admission price was estimated in a range form 7,090 won to 9,874 won. As compared to an actual admission price, the estimated price was a little bit lower. Thus this gap indicates the difference of a price estimated on the basis of theoretical analysis and a price decided by policy makers. Those who more frequently had visited to caves, were affected by mass communication vehicles, and indicated a higher level of intention to join a cave event, showed a higher level of the WTP amount. Results of this study are expected to be used for establishing cave tourism-related policies.