Estimating the Heritage Demand Function in Saudi Arabia A Quantitative Analytical Approach
This study estimates the demand function for cultural heritage sites in Saudi Arabia over 2010 Abstract:run price and income elasticities and computing the direct use value component of
-run and long-deriving shortuantitative framework integrates the Travel Cost Method (TCM),
method q-Total Economic Value (TEV). A tripleeffects
-log fixed-Contingent Valuation Method (CVM), and Choice Experiments (CE). The core model is a doubleors, panel unit root tests
West HAC standard err-panel regression across ten origin markets (n=150), with NeweyResults
. Correction Model (ECM)-ADF), Johansen cointegration analysis, and an Error-(IPS, LLC, Fisherrun price elasticity of −0.95. Income elasticity is +1.18
-run price elasticity of −0.62 and long-confirm a shortrun), classifying heritage tourism unambiguously as a luxury good. The substitution
-run) and +1.76 (long-(shorte Johansen trace test confirms one cointegrating vector at the 5% level, and the ECT
elasticity is +0.63. Thcoefficient of −0.341 implies adjustment of approximately 34% per year. Consumer surplus estimates range from
driven market
-differentiated pricing, income-Findings support dynamic site. SAR 1,800 to SAR 5,800 per visitshifting
-growth Asian economies, and targeted infrastructure investment as demand-diversification toward highto apply a panel ECM approach to Saudi
levers within the Vision 2030 framework. This study is among the first .
cultural heritage demand and to formally document its luxury classificatio
This study estimates the demand function for cultural heritage sites in Saudi Arabia over 2010 Abstract:run price and income elasticities and computing the direct use value component of
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The global rise of private museums has significantly accelerated in recent decades; a phenomenon termed the Private Museums Boom. This is apparently a Saudi experience.
ABSTRACT:
The creative economy has swiftly expanded in recent decades, defined by
Industry 4.0. Saudi Vision 2030 has created a cultural and creative environment by