Selected Paper Western Agricultural Economics Association, 2002 Annual Meeting Long Beach, CA Valuing Idaho Wineries with a Travel Cost Model

Abstract

Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. 1Valuing Idaho Wineries with a Travel Cost Model ABSTRACT. Many commercial wineries produce a dual product; commercial wine and wine tourism. Growth of wine tourism throughout the US has been phenomenal. In contrast to the price of wine, which is reflected in the market, the demand for wine tourism can be only ascertained with a shadow price for winery visitation. The demand for wine tourism visits for Canyon County in southern Idaho was estimated using the Travel Cost Method. The value of wine tourism in Canyon County was estimated to be $5.40 per person per trip and trip demand was highly inelastic at 0.5. Elasticities of other trip demand function variables were estimated and analyzed, with a view to informing the marketing of Idaho’s emerging wine tourism industry. Visitors have long flocked to the famous grape and wine regions of the world. In the Western United States, the majority of wineries have clustered among the grape growing regions of central and eastern Washington, western Oregon, and the nation’s foremost grape and wine

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