Hedonic value of high-speed rail services: Quantitative analysis of the students' domestic tourist attractiveness of the main Italian cities

The estimation results show that city-specific attractiveness attributes (entertainment and restaurant rate; number of sites of interests; crime rate), and level of services variables (e.g. travel time and cost; HSR brand ) significantly influence the perception of a city as a possible destination for a domestic tourist trip by train. Furthermore, the average monetary value for the “pure preference” for the HSR brand (faster trains, high frequency, and on-board services) is about 22 Euros/trip, while the hedonic value relative only to on-board services is about 12 Euros/trip , underlining that the “faster train” is only one of the perceived attributes of HSR services. Overall, the willingness to pay for an HSR ticket is up to 40% greater than that for a traditional one. Furthermore, tourists are willing to spend 2.2 h more travelling on an HSR train to reach their destinations. The estimation results show that there is also a “distance traveled effect”; the pure preference for HSR services increases in value from 9 Euros/trip to 13 Euros/trip (+44%) for distances traveled greater than 400 km. If confirmed, these results allow the conclusion to be drawn that the “catchment area” of cities on HSR networks is larger than that served by traditional rail.