Perceived Value in Sustainable Coastal and Marine Destinations: A Study of Jacó in Costa Rica

Abstract

Perceived value influences the future behavior of tourists in sustainable coastal destinations, and thus is crucial for the elaboration of development plans. This study aims to: (i) identify the dimensions of the perceived value of demand in a coastal and marine destination; (ii) determine the dimensions of the perceived value that predict the satisfaction of the demand of a coastal and marine destination; and (iii) establish the dimensions of perceived value that predict loyalty variables such as return, recommendation, and saying positive things about a coastal and marine destination. This research was carried out in Jacó, a sustainable tourist destination on the Pacific Ocean coast located in the Central American country of Costa Rica. The sample collection was carried out on-site in June 2021 during the COVID-19 pandemic. This quantitative study used a sample of 304 valid questionnaires. Factor analysis and the multiple regression method were performed for data analysis. The results show three dimensions in the perceived value, namely, the emotional and functional value, the social value, and the economic value. The emotional and functional dimension is the most important predictor of satisfaction and loyalty in variables such as return, recommendation, and saying positive things about a coastal and marine destination. The results can serve as a management guide for managers of coastal and marine destinations and as information for service providers to develop products according to demand.

1. Introduction

Among the most important activities that are developed and contemplated by human installations in coastal and marine spaces are those of coastal and marine tourism [1]. It is worth mentioning, for example, how cruise and sailing activities predominate in marine tourism due to ocean depths [2,3]. However, there are many other activities such as diving, underwater fishing, water skiing, windsurfing, excursions to marine parks, and observation of wild mammals [2,4]. Among the wide range of activities offered by coastal and marine destinations to tourists, we can mention the enjoyment of water sports, ecotourism, local gastronomy, visits to local communities, and the sighting of marine flora and fauna of the region [5].

The World Health Organization declared the alert for COVID-19 on 11 March 2020 [6]. This pandemic has infected about 86 million people, including approximately 1.9 million deaths [7]. At a global level, COVID-19 in 2020 caused an unprecedented crisis, directly impacting economic, political, and social systems worldwide. [8,9].

In terms of tourism, on 28 January 2021, a 74% drop in international arrivals for 2020 reflected the worst year in history, according to the World Tourism Organization (UNWTO) [10]. In Costa Rica, particularly, operations and passengers in airports presented decreasing rates of up to 99% compared to the months of April–June 2019 and up to 52% in the first half of 2020 as a result of the impact of COVID-19 [11]. Due to the pandemic, tourism was also negatively impacted [12,13,14]. Thus, the COVID-19 crisis posed the opportunity to reconsider a sustainable tourism transformation globally [14]. Coastal tourism has faced enormous challenges in balancing environmental concerns and tourism activities [1].

Tourist behavior in coastal and marine destinations is related to perceived value. The perceived value, as a construct, is made up of the differences between the benefits received (economic, social, and relational) and the sacrifices made (price, time, effort, risk, and comfort) by the consumer [15].

In such a way, the studies that have considered this construct conceptualize it as a personal evaluation of travel products, such as service, quality, price, emotions, and social factors [16]. It can be added that the concept of perceived value has been considered to analyze and understand the future behavior of tourists around purchase decisions [17]. Thus, perceived value guides favorable outcomes such as satisfaction and behavioral intentions [18,19].

Within this framework, Jacó, located in the Puntarenas province of Costa Rica, is considered one of the most important coastal cities of the Central Pacific in terms of tourism. Its characteristics frame it as a particular beach for surfers, with a nightlife full of energy and a wide variety of activities that uniquely attract national and foreign tourists.

Thus far, the literature presents few studies in which the construct of perceived value is valued in a multidimensional way, as well as its influence on the variables of loyalty and satisfaction of marine and coastal destinations that present diverse attractions of a natural and cultural nature. Therefore, this study aims to: (i) identify the dimensions of the perceived value of demand in a coastal and marine destination; (ii) determine the dimensions of the perceived value that predict the satisfaction of the demand of a coastal and marine destination; and (iii) establish the dimensions of perceived value that predict loyalty variables such as return, recommendation, and saying positive things about a coastal and marine destination.

2. Literature Review

2.1. Perceived Value in Tourism

The perceived value depends on the valuation of tourists, whose valuation results are related to the information before the purchase, quality of the service, tourist resources, natural environment, time, money, and effort that is given, as well as other aspects [17]. Perceived value predicts behavioral intentions and is closely related to consumer behavior [15,20]. Thus, anticipating the behavior of tourists is possible thanks to the reliability of the concept of perceived value [21,22]. The study of the variables that affect purchasing decisions and the future use of services and products has been studied in the literature with the construct of perceived value [17]. Likewise, emphasizing perceived value results in the reasonableness of attracting responsible tourists whose values are shared [23].

It can be said then that the perceived value is mostly based on a utilitarian perspective, and finally, to examine the cognitive balance between costs and benefits/quality, the importance of economic and cognitive evaluations stands out [24]. On the other hand, Chi and Kilduff [25], Koller et al. [26], and Lee et al. [27] argue that a utilitarian perspective is too narrow and simplistic to encompass holistic representations of value perception as an intrinsic dimension. From the above, perceived value as a multidimensional construct should encompass emotional value, social value, and hedonic and utilitarian dimensions that critically build positive emotions and customer satisfaction [27]. Therefore, the perceived value is a multidimensional concept that implies an individual assessment of the benefits obtained from the travel experience and the sacrifices made, which are governed by aspects of the travel experience of a rational, emotional, and social nature [16].

There are previous studies on perceived value in tourism, for example. A first study examined underlying factors that affected perceived value among South Korean visitors to the Mount Kumgang complex in North Korea [28]. This study identified core elements that directly affect guest satisfaction, such as emotional, functional, and economic values, which influence intentions to recommend and revisit the destination. On the other hand, in the case of ecotourism in South Korea, Kim and Park [23], based on twelve variables, found four dimensions of perceived value: economic, functional, emotional, and social. The authors were able to demonstrate that general satisfaction and tourist satisfaction were significant antecedents of destination loyalty. They also found that functional, social, and emotional values positively influenced overall satisfaction. Furthermore, other authors [16,29,30] recognized social interaction as a determining factor of perceived value, since it can significantly affect the dimensions of value during an intercultural exchange between the local population and tourists, which is a dimension essential to the quality of the tourist experience.

In their study on the impact of value perception on young people’s tourism, it was found that value perception positively and statistically impacts overall satisfaction, word of mouth, and intentions to revisit, whereas overall satisfaction has a positive effect on word of mouth and review intentions [31].

Carvache-Franco et al. [32] identified four perceived values in protected areas in Ecuador: economic, functional, emotional, and social. The values related to satisfaction and loyalty were functional and emotional. Additionally, Um and Yoon [33] identified three perceived values: conditional value, epistemic value, and functional value. Likewise, the value perceived by tourists from the tourist gentrification experience influenced their attitudes and intentions towards responsible tourism; the functional and conditional values impacted attitudes, with the latter being the one that had the greatest impact. This was obtained by studying the tourists’ perceived value of the gentrification experience in three areas of South Korea affected by tourist gentrification: Seo-chon, Hongik University area, and Jeju Island.

The literature also found how the value perceived by tourists has a significant positive impact on place attachment, which in turn has a significant positive impact on revisit intention [34], as well as affecting positive direct results of the attractiveness factors of the destination, such as satisfaction, the image of the destination, and review intentions [35].

2.2. Dimensions of Perceived Value in Coastal and Marine Tourism

Recent studies have indicated that the search for adventure travel and safe and quality experiences in natural spaces will occur after COVID-19 [36]. Therefore, coastal and marine tourism represents an excellent opportunity to create biosafe tourist spaces suitable for visitors.

Regarding the previous studies conducted on the perceived worth in coastal and marine destinations, the subsequent were found: In Malaysia, Jamal et al. [37] established five dimensions of perceived value: practical value (establishment), functional value (price), experiential value (host–guest interaction), experiential value (activity, culture, and knowledge), and emotional value. On an equivalent line, in Australia, Williams, and Soutar [38] also identified five dimensions of perceived value: functional value, value for money, emotional value, social value, and novelty value. They identified that every one of the scales considerably influenced holidaymaker satisfaction in a coastal journey context. From a sporting perspective, Schoman et al. [39] studied the perceived worth of diving expertise in Sodwana Bay (South Africa), where five perceived values were identified: the perceived emotional value, the perceived risk value, the perceived practical value, the perceived social value, and also, the perceived epistemic value, the latter being the foremost relevant for differences in marine tourism.

From the angle of tourism on Jeju Island in South Korea, Kim and Thapa [40] recognized four perceived prices: quality, emotional, price, and social, with the best significance for the flow of expertise and satisfaction being marked by the perceived quality, and emotional and social values of satisfaction, accountable environmental behaviors, and loyalty to the destination. It had an immediate and positive relationship with the flow experience. On the opposite hand, Carvache-Franco et al. [41] realized two dimensions within the perceived value: economic-functional and emotional-social. the two dimensions of perceived value are the predictors of tourist satisfaction and loyalty, with the economic-functional dimension being the foremost vital predictor of satisfaction. Instead, the emotional-social dimension is the important predictor of loyalty in coastal and marine destinations. This study was conducted within the coastal town of the capital of Peru (Lima).

In summary, several previous findings were found that analyzed the perceived value in coastal and marine destinations from various perspectives, such as adventure, sports, ecotourism, environmental, image, and authenticity. Nevertheless, there are recurring values such as functional, emotional, price, economic, and social values. Since there is still little literature on perceived value in coastal and marine destinations, our first research question arises.

RQ1: What are the dimensions of the perceived value of the demand for a coastal and marine destination?

2.3. Perceived Value, Satisfaction, and Loyalty in Coastal and Marine Tourism

Several studies have established that perceived value has a positive and significant effect on experience satisfaction [42,43]. Therefore, the perceived value of each tourist experience comes from behavior [16]. On the effects of perceived value on satisfaction and loyalty, the perceived value positively affects the satisfaction and loyalty of the tourist, which is one of the results of Peña et al. [44] when examining the relationships between perceived value, satisfaction, and loyalty in rural tourism in Spain. Those results discovered that perceived price completely affects traveler satisfaction and loyalty. Jin et al. [45], in a water park in South Korea, found that the perceived value and image of the park exert an on-the-spot influence on client satisfaction and positively affect activity intentions. In beach destinations in Bangladesh, Hasan et al. [46] revealed that service quality and perceived values directly affect the destination’s image, tourist attitudes, and tourist satisfaction. in a study of English tourists who visited Spain, Frías Jamilena et al. [47] found a high level of self-congruence between the tourist, and therefore, the destination. This finding contributes considerably to the perceived value of the destination. Moreover, traveler motivations additionally contribute considerably to the creation of destination value, and therefore, the previous expertise of the tourist is a very important moderator of the formation of the worth of the destination.

The perceived value and loyalty of tourists are affected by authenticity and interpersonal authenticity, as found by Su et al. [48]. Thus, the relationship between authenticity and loyalty in maritime tourism in Zhoushan (China) was partially mediated by perceived value.

In the literature, it is also evidenced [49] that the perceived value of the ecosystem services of wetlands has a positive effect on the environmental concerns of tourists and ecological behavior; in this study, the authors prove the effectiveness of the perceived value of wetlands and ecosystem services on tourists’ intentions to revisit Taiwan’s Aogu Coastal Wetlands.

In a study on Green Island (Lyudao in Chinese), Taiwan, Cheng and Lu [50] found that destination image results in the next perception of novelty promoting hedonics and perceived value, and fosters the intention to visit in tourists.

Du et al. [51] identified that perceived value is the one that most contributes to ecological behavior, and tourism satisfaction mediates the relationship between environmental knowledge and environmentally friendly behavior within the Shenzhen Rhizophora (Mangrove) Nature Reserve, located in a coastal town in China.

Several previous findings showed a relationship between perceived value, satisfaction, and loyalty in coastal and marine tourism. However, other previous findings further demonstrated the dimensions of perceived value that influence satisfaction and loyalty in coastal and marine tourism. Therefore, for some academics, all the dimensions influence satisfaction and loyalty. In contrast, the most important dimensions are functional, social, and emotional dimensions for other scholars. However, to date, no studies show the dimensions that predict satisfaction and loyalty in coastal and marine destinations. Therefore, our second and third research questions arise.

RQ2: What dimensions of the perceived value predict the satisfaction of the demand of a coastal and marine destination?

RQ3: What dimensions of perceived value predict loyalty variables such as return, recommendation, and saying positive things about a coastal and marine destination?

3. Methodology

3.1. Survey, Data Collection, and Analyses

The objectives of this study include: (i) identifying the dimensions of the perceived value of the demand in a coastal and marine destination; (ii) determining the dimensions of the perceived value that predict the satisfaction of the demand of a coastal and marine destination; and (iii) establishing the dimensions of perceived value that predict loyalty variables such as return, recommendation, and saying positive things about a coastal and marine destination. For this purpose, an information assortment instrument to evaluate the perceived value as a predictor of the satisfaction of traveler demand on the coasts was developed and supported by previous studies.

The questionnaire consisted of 17 questions divided into 4 sections. First, the sociodemographic variables and the characteristics of the visitors were determined with closed questions, which were adapted from the study by Lee et al. [52]. Second, perceived value items were measured, taken from the two articles by Kim and Park [23] and Carvache-Franco et al. [5]. These questions were measured on a 5-point Likert scale (1 being not at all important and 5 being very important). Third, a section of the questionnaire measured satisfaction and loyalty using a 5-point Likert-type scale adapted from Kim and Park [23], where 1 was not very satisfied and 5 was very satisfied. The loyalty section used a 5-point Likert scale, where 1 was unlikely and 5 was very likely. Data collection was carried out through fieldwork in June 2021 during the weekends on the most important beaches in Jacó. a convenience sample methodology was used. The pollsters approached the tourists according to their availability to respond while doing recreational activities or resting. The sample of tourists used were over 18 years of age. The verification of the equivalence of the sample concerning the population under study was achieved by ensuring the representativeness of the tourist population. Thus, the surveys were applied to the Jacó coast in relative proportion to the groups of tourists with the greatest presence in the area. At the same time, but to a lesser extent, the tourist groups with the least presence were surveyed. Undergraduate students with advanced knowledge in the research were trained on how to conduct the surveys by the authors of this study. The survey was pilot tested with 10 people. Once the corrections were made, the surveys were administered. The sample size consisted of three hundred and three valid questionnaires, which presented a margin of error of ±5.6%, a confidence level of 95%, and a variance of 50%. The data were examined in two stages: First, a factor analysis was performed that resulted in items of a few factors to improve the interpretation of the results. A varimax rotation was produced to order the factor loadings. The Kaiser criterion was obtained to find the number of factors with eigenvalues greater than 1. The KMO (Kaiser–Meyer–Olkin) index and Bartlett’s sphericity test determined whether it was appropriate to perform the factor analysis model. In the second stage, the enter multiple regression technique helped to select the dimensions of perceived value that predicted the variables of satisfaction and future behavior. Once the data was collected during the field activity, it was organized, tabulated, and analyzed with the SPSS program, version 22.

3.2. Study Area

Costa Rica is highlighted worldwide for the beauty of its paradisiacal beaches on both the Caribbean and Pacific coasts. Thus, tourists are attracted by the destination’s richness of ecotourism on the coast. The country has received recognitions such as Healthy Places 2021, awarded by Men’s Health magazine, and “Best Destination for Responsible Tourism” at the WTM Responsible Tourism Awards Latin America in 2021.

In Costa Rica, according to international arrivals provided by the General Directorate of Migration and Immigration, the statistics on the main reason tourists visit Costa Rica indicate that approximately 80% visit for vacation, recreation, and leisure and 72% have as their main activity those associated with sun and beach [53].

It is located two hours from the city of San José, the capital of Costa Rica. Jacó has 126,000 acres of ocean and 1700 acres of land, and it has a tropical climate with a clear differentiation between the dry and wet seasons. Hence, it is considered a particular beach for surfers, and it has an energetic nightlife. A great variety of adventurous activities, such as surfing, horseback riding, deep-sea fishing, rafting, and tours of various types on boats, kayaks, catamarans, and ATVs, are available for tourists. Jacó’s proximity to the Manuel Antonio National Park and other protected areas of incredible beauty and diversity strengthens the tourists’ attraction. In Costa Rica, there is significant foreign investment in beach hotels, which facilitates the stay of tourists (Figure 1).

4. Results

4.1. Sociodemographic Information

The sample consisted of international tourists (84.4%) and national tourists (15.2%). The results showed that the largest number of visitors came from North America (77.6%), followed by other continents such as Africa, Oceania, and Asia (14.2%). Most tourists were Americans (66.3%) and Costa Ricans (13.5%). Regarding gender, 52.1% were women and 47.9% were men. Regarding their marital status, 57.4% were single, and 29.4% were married. A majority of tourists were between 21 and 30 years old (49.8%), followed by tourists between 31 and 40 years old (17.8%). Regarding educational background, most visitors were undergraduate students (62.4%), followed by tourists with secondary education (24.4%). Moreover, most of the tourists were private employees (43.9%) and students (23.1%). For a large part of the sample, it was first-time visitors who traveled to the destination (53.8%), followed by those who were visiting for the second time (29.7%). Additionally, tourists were traveling with friends (33.3%) and with family (30.4%). Most tourists spent four days and three nights (39.3%), or three days and two nights (24.8%). Regarding their monthly income, most visitors earned less than USD 500 (22.1%), followed by those who earned between USD 1500 and USD 1999 (15.2%). Furthermore, more tourists were willing to spend between USD 100 and USD 149 per day (31.7%), followed by those who wanted to spend between USD 150 and USD 199 per day (24.8%).

4.2. Dimensions of Perceived Value (Factor Analysis)

Principal components analysis was used to extract the data and the varimax rotation method was used to order the factor loadings. It is important to clarify that a factorial analysis reduced the elements to a reduced number of factors that improved the interpretation of the results.

The model included only the factors that reached eigenvalues greater than 1, and three factors made up 73.39% of the total variance using the Kaiser criterion; the Cronbach’s alpha index reached values between 0.806 and 0.902. The KMO (Kaiser–Meyer–Olkin) index was 0.92; thus, the data were represented in a good factor analysis model. In addition, Bartlett’s sphericity test was significant, <0.05; therefore, the factor analysis model was adequate.

Table 1. Dimensions of perceived value (factor analysis).

Variables	Factor 1: Emotional and Functional Value	Factor 2: Social Value	Factor 3: Economic Value
I have positive feelings.	0.852
The visit makes me feel happy.	0.823
The visit is nice.	0.729
The service has an acceptable level of quality.	0.715
The service is convenient for me.	0.686
The service is well organized.	0.658
I gain social approval from others.		0.861
I make a good impression on other people.		0.853
I feel like a special person.		0.717
The service is cheap.			0.841
The service has reasonable prices.			0.777
The service is good value for money.			0.655
Cronbach’s alpha	0.902	0.864	0.806
Eigenvalue	6.494	1.275	1.037
Variance explained (%)	54.119	10.624	8.642
Cumulative variance explained (%)	54.119	64.743	73.384

shows the results found.

Concerning the results shown in Table 1, the first dimension was called “emotional and functional value”; the emotional and the functional part were combined due to the current perceptions of tourists. It was the most representative factor with 54.12% of the total variance. This dimension comprised the perceived value of tourists for services that offer an exciting, pleasant, well-organized visit of adequate quality. The second dimension was called “social value” and reached 10.62% of the total variance. This second dimension comprises the perceived value of tourists for social interaction with others. The third factor was called “economic value” and corresponded to 8.64% of the total variance. This third factor was related to the services perceived by economic prices according to the quality offered.

4.3. Perceived Value and Overall Satisfaction

The dimensions of the perceived value derived from the use of the multiple regression techniques resulted in the predictions of general satisfaction of the tourists. Results are shown in

Table 2. Relationship between perceived value and general satisfaction.

Variable	Beta	T	Sig.	Tolerance
Emotional and functional value	0.558	13.377	0.000	1.000
Social value	0.312	7.481	0.000	1.000
Economic value	0.267	6.407	0.000	1.000
(Constant)		133.216	0.000
R2 tight	0.475
F	91.987
Sig.	0.000
Durbin–Watson	1.978

.

According to Table 2, where R² is the percentage of variation of the general satisfaction variable concerning the predictor variables, the three factors represented 47.5% of the variation. Hence, the model fit the data adequately. The F test obtained significant values (p < 0.05), indicating the existence of a relationship between the significant predictors (perceived value) and the response variable (satisfaction). The tolerance values did not indicate multicollinearity between the variables (tolerance close to 1). In addition, the Durbin–Watson statistic reached a value of 1.98, indicating that there was no autocorrelation in the errors. According to the results, the dimension of “emotional and functional value” was the most representative predictor of the general satisfaction of tourists (Beta = 0.558, p < 0.01). The second most important element was the factor of “social value” (Beta = 0.312, p < 0.01). This result means that tourists are more satisfied with products that offer them more emotions, better-organized products, and that provide social interaction with other tourists. Additionally, the factor of “economic value” was significant (Beta = 0.267, p < 0.01); thus, the services must offer an economical price and have a good relationship with the quality offered.

4.4. Perceived Value and Return Intentions

The multiple regression technique analyzed the perceived value dimensions that predict intentions of returning to the destination.

Table 3. Relationship between perceived value and return intentions.

Variable	Beta	t	Sig.	Tolerance
Emotional and functional value	0.477	9.477	0.000	1.000
Social value	0.079	1.567	0.118	1.000
Economic value	0.084	1.674	0.095	1.000
(Constant)		76.868	0.000
R2 tight	0.234
F	31.693
Sig.	0.000
Durbin–Watson	1.920

shows the results.

Only one factor accounted for 23.4% of the variation; therefore, the model fit the data adequately according to Table 3. The F test was significant (p < 0.05); thus, there was a relationship between the predictors and the response variable (return). According to the tolerance values, there was no multicollinearity between the variables. Moreover, according to the Durbin–Watson statistic, there was no autocorrelation in the errors. Regarding the results, the dimension of “emotional and functional value” was the only significant predictor of the intentions of tourists to return to the destination (Beta = 0.477, p < 0.01). This figure means that tourists would return more to this type of destination if the services can offer them more emotions and are well organized.

4.5. Perceived Value and Intentions to Recommend

The results of

Table 4. Relationship between perceived value and intentions to recommend.

Variable	Beta	t	Sig.	Tolerance
Emotional and functional value	0.404	8.506	0.000	1.000
Social value	0.383	8.065	0.000	1.000
Economic value	0.133	2.812	0.005	1.000
(Constant)		105.481	0.000
R2 tight	0.320
F	48.437
Sig.	0.000
Durbin–Watson	2.055

present the analysis of the intentions to recommend Jacó that were predicted by the dimensions of perceived value.

The model fit the data adequately, according to Table 4, since the three factors accounted for 32% of the variation. No multicollinearity between the independent variables was indicated by the tolerance values. The F test was significant (p < 0.05). Additionally, there was no autocorrelation in the errors (Durbin–Watson statistic). According to the results, the dimension of “emotional and functional value” was the most representative predictor of the intentions to recommend the destination to others (Beta = 0.404, p < 0.01). The second most representative factor was the factor of “social value” (Beta = 0.383, p < 0.01). This result means that tourists can advocate for the destination if the products offer other emotions, are well organized, and provide social interaction with other tourists. However, the factor of “economic value” was also significant (Beta = 0.133, p < 0.01); thus, the services offered should have affordable prices.

4.6. Perceived Value and Saying Positive Things about the Destination

Table 5. Relationship between perceived value and saying positive things about the destination.

Variable	Beta	t	Sig.	Tolerance
Emotional and functional value	0.416	8.484	0.000	1.000
Social value	0.314	6.402	0.000	1.000
Economic value	0.089	1.823	0.069	1.000
(Constant)		106.218	0.000
R2 tight	0.273
F	38.766
Sig.	0.000
Durbin–Watson	2.145

shows the results of the factors that predicted the intentions to mention positive aspects about the destination according to the perceived value. For this case, the multiple regression technique was used.

Two factors accounted for 27.3% of the variation; therefore, the model fit the data adequately (Table 5). The F test was significant (p < 0.05), and the tolerance values did not have multicollinearity between the variables. In addition, according to the Durbin–Watson statistic, there was no autocorrelation in the errors. The dimension of “emotional and functional value” was the most important predictor of tourists’ intentions to say positive things about the destination (Beta = 0.416, p < 0.01). The “social value” (Beta = 0.314, p < 0.01) was the second most significant element. This figure means that if the tourist finds products and services that excite him, are well organized and efficient, and have a good social environment, he will express positive things about the destination.

5. Discussion

In this study, the first objective was to identify the dimensions of the perceived value of demand in a coastal and marine destination. According to the results of the investigation, three main dimensions were found: the emotional-functional value, the social value, and the economic value. These results coincide with Lee et al. [28], as for these authors the influence on the intention to revisit and recommend a destination is associated with visitor satisfaction, which is directly related to emotional, functional, and economic values; this is also consistent with other recent studies [31,34,35]. Nevertheless, in our results, emotional and functional values were united in a single factor. Likewise, Kim and Park [23] found four dimensions of perceived value: economic, functional, emotional, and social. Their research also coincides with Carvache-Franco et al.’s [32] findings, whose study identified four perceived values: economic, functional, emotional and social. This result also coincides with Williams and Soutar [38]. In a coastal adventure context, they identified five dimensions of perceived value (functional value, value for money, emotional value, social value, and novelty value). The contribution of this study to the academic literature is to have found three perceived values in a coastal and marine nature destination and to have found the emotional and functional values united in a single factor.

As a second objective of the study, the authors proposed determining the dimensions of the perceived value that predict the satisfaction of the demand of a coastal and marine destination. Hence, the present study found that the dimension of “emotional-functional value” was the most significant predictor of the general satisfaction of tourists in the destination. This result is consistent with the study carried out in the coastal city of Lima (Peru) by Carvache- Franco et al. [41]. The study reveals how the dimensions of economic-functional and emotional-social within the framework of perceived value are predictors of loyalty and satisfaction of tourists. The economic-functional dimension is the most relevant in the prediction of satisfaction. On the other hand, the prediction of loyalty to coastal and marine destinations is accentuated by the emotional-social dimension.

Regarding the social value predictor (the second most significant element in our study regarding satisfaction), the results are consistent with Kim and Park [23]. They showed that functional, social, and emotional values positively affected satisfaction.

In agreement with Lee et al. [28], who examined the factors that increase perceived value among South Korean tourists who visited the Mount Kumgang complex in North Korea, the relevance of economic valuation and its prediction of satisfaction is highlighted. The results are also consistent with what was found by Carvache-Franco et al. [41] regarding the direct impact on the satisfaction of emotional, functional, and economic values, since in that study the most relevant predictor in terms of satisfaction was the economic-functional dimension. The academic literature receives a contribution from this study since it was found that, in coastal and marine nature destinations, the main predictor of satisfaction is the emotional-functional value.

Finally, we found that the dimension of emotional and functional value is the most significant predictor in response to the objective of establishing the dimensions of perceived value that predict loyalty variables such as return, recommendation, and speaking positively about a coastal and maritime destination. This finding means that tourists would return to this type of destination if the services can offer them different emotions and are well organized. These results are consistent with Hasan et al. [46]. Their study shows that the perceived values and the quality of service have a direct impact on the image of the destination, and the attitudes and the satisfaction of the tourist in regard to returning to a destination or recommending it. The most important contribution of our study is the emotional and functional dimensions of perceived value that most influence satisfaction and loyalty towards coastal and marine destinations in times of a pandemic.

6. Conclusions

Emotional and functional value, social value, and economic value are three aspects of perceived value in coastal destinations. For general satisfaction, the most important predictors are functional and social-emotional values. However, the only predictive element for the intention to return to the destination is the emotional and functional value. Furthermore, the essential predictors of the intention to recommend a destination and say positive things about it are emotional, functional, and social values. Therefore, it is important to offer services that offer exciting and well-organized experiences to tourists. In addition, these services allow social interaction among tourists. Thus, tourists will be satisfied and encouraged to return and recommend these coastal destinations.

The theoretical implications of this study highlighted three dimensions of perceived value in a coastal and marine destination and the emotional and functional dimensions united in a single factor. The results show that depending on the characteristics of the destination, the dimensions can be found together or individually. Likewise, the emotional and functional value dimension is the one that most influences the general satisfaction regarding the coastal destination, the intentions of returning visitors, and the possibility to receive positive reviews and generate recommendations about the destination. The results contribute to the existing literature since it is important to note that a tourist with a high degree of satisfaction will encourage and recommend a new visit to the coastal destination.

Therefore, it is transcendental that tourism companies know this dimension in-depth to align strategies and actions, promote quality services, and organize, constantly renew, and generate a loyal environment. Likewise, the authors of this study propose generating attractive tour packages in line with the tourist’s interest. Thus, the functional and the economic dimensions align with each package’s offer versus the price and set optimal conditions to intensify the possibilities of recommending the destination for its functionality. The linking of tourist activities to the destination is a win-win relationship which could diversify the supply and make it economically attractive and accessible to national and foreign tourists. These actions strengthen the tourist context of a region.

Furthermore, this study enhances the planning of public policies that promote better indicators of tourist return by considering the motivations and incentives that encourage a return to the destination, which is especially important for Costa Rica given that foreign tourist visits are based largely on the reason of vacationing on the coast. Due to COVID-19, tourists are placed in a condition of economic and social vulnerability generated by environmental conditions, which causes delays in data collection; this frames the main limitation of our study.

Future work could explore the relationship between the perceived value and the motivations of coastal and marine destination activities in post-pandemic times to measure the motivations and perceptions that tourists may have in coastal and marine destinations.