Journal of Rural Development
Economic Value of Care Farming–Based Adult Day Care Services: Willingness to Pay (WTP)
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AuthorLee, Hyunah
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Publication Date2026.03.21
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Original
This study estimates the economic value of care farming–based adult day care services using the contingent valuation method and explores the potential demand size and users’ acceptance of out-of-pocket payments for these services. A survey of middle-aged adults aged 40–64 years as a prospective elderly population was conducted, and their willingness to pay (WTP) was analyzed using the Kruskal–Wallis test and a Tobit model. The estimated average monthly WTP was KRW 307,800. Furthermore, assuming a 10% utilization rate for the elderly population in 2030, the annual total economic value, based on user co-payments, was approximately KRW 5.93 trillion. Group difference analysis showed significant variations in service need, monthly income, gender, educational attainment, household type, and intentions regarding return-to-farming or rural migration, while Tobit regression identified service need, intentions regarding return-to-farming or rural migration, and gender as significant determinants of WTP. The study provides evidence to inform discussions on the introduction and operation of care farming-based adult care services in rural areas.
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