Tourist’s Willingness To Pay For Urban Tourism: Determining The Factors Of Their Visit
The basic purpose of this paper was to assess the visitor’s willingness to pay (WTP) and also explore the factors which play an important role for visit urban tourism (UT). The Lahore is the multicultural city of Pakistan which has many beneficial activities for entrepreneurs as well as for the tourists. Data of 250 tourists were collected through well pre paired questionnaire and this data were used in the final analysis. The most useful technique contingent valuation method (CVM) with dichotomous choice question (yes/no) was used to estimate the tourists’ WTP. Two models were used in the estimation one binary regression and other was ordinary least square (OLS). The findings showed that majority of the tourists were willing to pay for UT, and also acknowledged that tourists were interested to get good memories, experience and knowledge through this visit; Tourist’s income was positive and significant determinant factor of UT, total cost was the main concern for the visitors, therefore they were negatively related with WTP. Findings of this study recommended practical implications for stakeholders.
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