Estimating the Social Value of Digital Signage Landmarks as Sustainable Tourist Attractions

Abstract

As urban tourism increases, digital signage landmarks are frequently utilized to develop and enhance the attractiveness of cities for tourism. However, the benefits of this development for local residents have not been fully explored from a sustainability perspective. Thus, this study aims to quantitatively analyze local residents’ perceptions of digital signage landmarks in urban areas using one of the prominent icons, the Samseong-dong free display zone in Seoul, Korea. To measure the overall value of the landmarks, this study used a double-bounded dichotomous choice contingent valuation method and spike model. Based on the surveys of 600 respondents in Korea, the results show that a household’s willingness to pay to support the landmark annually is KRW 5401 (USD 4) on average in the form of income tax. The perceived annual value for the landmark is about KRW 790 million (USD 60 million), surpassing that of typical tourism attractions in Korea.