Journal of the Korean Society for Railway (한국철도학회논문집)

The Korean Society for Railway (한국철도학회)
권호 표지
DOI QR코드

DOI QR Code

Study to Estimate the Economic Value of Railway Services Using a Contingent Valuation Method Focusing on Tourist Train Service in Korea

조건부 가치추정법을 활용한 국내 관광열차서비스의 가치추정 연구

  • Received : 2016.11.02
  • Accepted : 2017.02.06
  • Published : 2017.02.28
Download PDF
⟨ Previous Next ⟩

Abstract

The South Korean rail authority is constructing a nationwide tourism belt by developing new rail tour routes in an effort to combine local tourism resources with rail service and to create value in regional areas. As massive financial resources are required to develop and operate such tourist trains, governing authorities are required to examine the feasibility of this project as a sound business model and to assess the public benefit and profitability of the project. In this study, the economic feasibility of the tourist trains was assessed with the contingent valuation method (CVM). According to an estimation of the willingness to pay of potential tour train passengers, the surveyed subjects were willing to pay fares that were higher than prices currently published at the time of this study, thereby demonstrating that the economic value they invest on tourist trains may be higher than published prices at the time. For instance, they were willing to pay 28.4% and 54.9% more for the O-train and V-train types, respectively, according to the study, suggesting that the quality as perceived by train passengers for tourist train services is relatively high. The study is significant in that it succeeded in quantifying the satisfaction level of tourist train passengers using quantitative data (additional funds people are willing to pay).

한국철도는 지역의 관광자원을 철도와 융합하고 지역 중심의 새로운 가치를 창출하기 위해 신규 관광노선을 개발, 전국적인 철도관광벨트를 구축하고 있다. 관광열차를 개발하여 운행하기 위해서는 막대한 예산이 소요되므로 공공기관으로서의 공익성 및 수익성 외에 사업의 경제성을 충분히 검토해야 한다. 본 연구에서는 조건부 가치측정법(CVM, Contingent Valuation Method)을 활용하여 관광열차의 경제적 가치를 평가하였다. 관광열차의 이용객의 추가적인 지불의사액을 추정한 결과, 수요자들은 현재의 열차운임보다 더 높은 지불의사를 가지고 있어 관광열차에 부여하는 경제적 가치가 현재의 열차운임보다 큰 것으로 나타났다. 즉, O-train은 28.4%, V-train은 54.9%, 만큼 요금을 더 지불한 용의가 있는 것으로 나타났다. 이는 이용객들이 관광철도서비스의 품질을 높게 인지하고 있는 것으로 해석할 수 있으며, 현재 관광열차 탑승객들의 만족 수준을 추가적인 지불의사액이라는 정량적 데이터를 통해 계량화할 수 있다는 점에서 의의가 있다.

Keywords

References

  1. Y. Song, J.S. Kim (2012) Assessment of the Value of Cultural Assets Using the Conditional Valuation Method, Studies on Tourism and Leisure, 24(2), pp. 253-267.
  2. S.H. Shim (2009) Economic Valuation Estimation and Determinant Factors in Traditional Cultural Festivals, Studies on Tourism and Leisure, 21(4). pp. 41-56.
  3. C.G. Lee (2005) Assessment of the Value of DMZ Ecotourism Resources Using CVM, Studies on Tourism and Leisure, 17(4), pp. 65-81.
  4. Y.H. Choi (1998) Marketing Concepts in Korea Railway: Centered on Railway Tourism Products, Proceedings by Korea National Railroad College, 524, pp. 165-197.
  5. J.Y. Yu, S.J. Kwak (1996) Application of Contingent Valuation Method (CVM) to Reflect Citizens' Opinions in the Procedure of the Urban Policy-Making: Centered on the Debate about the Ground Level of the High-Speed Railroad at Daejeon Station, The Journal of Korea Planners Association, 31(4), pp. 9-18.
  6. J.M. Won (2000) Benefit Evaluation for Traffic Transfer System using Contingent Valuation Method in Tourist Resort, The Journal of Korea Planners Association, 35(6), pp. 235-241.
  7. J.S. Park, D.G. Kim (2010) Estimating the Benefit of Mountain Railways Construction Using Contigent Valuation Method, Seoul Studies, 11(1), pp. 103-110.
  8. K.J. Boyle, M.P. Welsh, R.C. Bishop (1988) Validation of empirical measures of welfare change: Comment. Land Economics, 64, pp. 94-98. https://doi.org/10.2307/3146613
  9. B. Dellaert, A. Borgers, H. Timmermans (1995) A day in the city: Using conjoint choice experiments to model urban tourists' choice of activity packages, Tourism management, 16(5), pp. 347-353. https://doi.org/10.1016/0261-5177(95)00035-M
  10. W. M. Hanemann (1984) Welfare evaluation in contingent valuation experiments with discrete responses, American Journal of Agricultural Economics, 66(3), pp. 332-341. https://doi.org/10.2307/1240800
  11. W. M. Hanemann, J. Loomis, B. Kanninen (1991) Statistical efficiency of double-bounded dichotomous choice contingent valuation, American Journal of Agricultural Economics, 73, pp. 1255-1263. https://doi.org/10.2307/1242453
  12. I. Krinsky, A.L. Robb (1986) On approximating the statistical properties of elasticities, Review of Economics and Statistics, 68, pp. 715-719. https://doi.org/10.2307/1924536
  13. B. Kristrom (1997) Spike models in contingent valuation, American Journal of Agricultural Economics, 79, pp. 1013-1023. https://doi.org/10.2307/1244440
  14. W. Santagata (2000) Contingent Valuation of a Cultural Public Good and Policy Design: The Case of Napoli Musei Aperti, Journal of Cultural Economics, 24(3), pp. 181-204. https://doi.org/10.1023/A:1007642231963
  15. J. Sanz, L.C. Herrero, A.M. Bedate (2003) Contingent Valuation and Semiparametric Methods: A Case Study of the National Museum of Sculpture in Valladolid, Spain, Journal of Cultural Economics, 27(3), pp. 241-257. https://doi.org/10.1023/A:1026353218280
  16. K.G. Willis (2002) Research Note: Iterative Bid Design in Contingent Valuation and the Estimation of the Revenue Maximizing Price for a Cultural Good, Journal of Cultural Economics, 26(4), pp. 307-324. https://doi.org/10.1023/A:1019903814513
  17. E. Horvath, C.F. Douglas (1999) Estimating the Multiplier Effects of Tourism Expenditures on a Local Economy through a Regional Input-Output Model, Journal of Travel Research, 37(4), pp. 324-332. https://doi.org/10.1177/004728759903700402
  18. C.S. Kim (2001) Understanding of Tourist Transportation, Seoul: Daewangsa.
  19. G.M. Lee, C.S. Kim (2008) Tourism Transportation, Seoul: Daewangsa.
  20. M. Clawson, J. Knetch (1966) Economics of Outdoor Recreation. Baltimore: the Johns Hopkins University.
  21. G.B. Lee (2007) A Study on the Importance and the After-Use Achievement When Selecting Railway Tourism Products, Master's Thesis, Woosong University.
  22. J.I. Song, S.D. Park (2013) An Analysis of the Economic effect of the Operation of Paektudaegan Mountain Range Canyon Train, Daegu Gyeongbuk Research Institute.