A travel cost analysis of the value of special events: Gemfest in Central Queensland

Prabha Prayaga ^[1] ; Jack Sinden ^[2] ; John Rolfe ^[1]
1. [1] Central Queensland University
  
  Central Queensland University
  
  Australia
2. [2] University of New England
  
  University of New England
  
  Australia
Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 12, Nº 3, 2006, págs. 403-420
Idioma: inglés
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Resumen
- Special events play an important part in tourism and recreation choices in Australia, and many receive funding from various levels of government. However, the economic case for funding special events often focuses on estimates of expenditure, employment and indirect impacts rather than estimates of economic benefit or consumer surplus. The study discusses the application of the travel cost method for estimating consumer surplus associated with a special event. The event studied is the annual four-day �Gemfest� in the sapphire fields of Central Queensland. Surveys were conducted in 1998 and 2002, and the derivations of the appropriate models, welfare calculations and comparisons over time are outlined.