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A Travel Cost Analysis of the Value of Special Events: Gemfest in Central Queensland

Author

Listed:
  • Prabha Prayaga

    (Faculty of Business and Law, Central Queensland University, Rockhampton, Queensland 4702, Australia)

  • John Rolfe

    (Faculty of Business and Law, Central Queensland University, Rockhampton, Queensland 4702, Australia)

  • Jack Sinden

    (Agricultural and Resource Economics, School of Economics, University of New England, Armidale, NSW 2351, Australia)

Abstract

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.

Suggested Citation

  • Prabha Prayaga & John Rolfe & Jack Sinden, 2006. "A Travel Cost Analysis of the Value of Special Events: Gemfest in Central Queensland," Tourism Economics, , vol. 12(3), pages 403-420, September.
    • Handle: RePEc:sae:toueco:v:12:y:2006:i:3:p:403-420
    DOI: 10.5367/000000006778493592
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    References listed on IDEAS

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    9. Marina Farr & Natalie Stoeckl & Rabiul Alam Beg, 2011. "The efficiency of the Environmental Management Charge in the Cairns management area of the Great Barrier Reef Marine Park," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(3), pages 322-341, July.
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