Abstract
The aviation market in Asia is expected to show high annual growth rate and fierce competition is developing between neighboring airports. More than 94% of international tourists use flights to travel in and out of Korea and The Ministry of Land, Infrastructure and Transport (MOLIT) revealed the three-stage business expansion plan that is a new leap toward becoming the “Hub Airport of Northeast Asia”. This study aims to measure the appropriate value for traffic time of the aviation sector using CVM-based questionnaire survey. The empirical results shows time values per one air passenger generated by this study are at a similar level with cases in the U.S.A. and at a higher level than with cases in previous studies in Korea. This is because the business purpose travel ratio among travel purpose has been continually getting lower since 1999.
| Original language | English |
|---|---|
| Pages (from-to) | 31039-31051 |
| Number of pages | 13 |
| Journal | International Journal of Applied Engineering Research |
| Volume | 10 |
| Issue number | 12 |
| State | Published - 28 Jul 2015 |
Keywords
- CVM
- Preliminary feasibility study
- Value of time
- Willingness to pay