Key Attributes Driving Yacht Tourism: Exploring Tourist Preferences Through Conjoint Analysis

Abstract

The study aims to identify key attributes driving yacht tourism and analyze their relative importance using conjoint analysis. This method quantifies attribute importance and utility values to evaluate their impact on consumer choices and optimize market segmentation strategies through attribute combination simulations. The research was conducted with a sample of 484 yacht tourists at yacht marinas, focusing on four key attributes: program, safety, service, and accessibility. The analysis revealed that yacht sailing programs were considered the most important attribute overall. However, preferences varied significantly depending on prior experience. Experienced yacht tourists ranked the attributes in the following order of importance: program, safety, service, and accessibility. In contrast, inexperienced tourists prioritized safety above all, followed by program, service, and accessibility. The study identified that all tourist groups preferred the same optimal combination: “a yacht sailing experience program that provides safety education and equipment, operates a tourism information platform, and is accessible within one hour by public transportation from the city center”. Although this optimal combination was consistent across groups, the utility values differed, with experienced yacht tourists exhibiting the highest values, followed by inexperienced tourists and overall tourists. The findings highlight the importance of prioritizing both sailing programs and safety measures in yacht tourism development, while also considering tourists’ experience levels. These insights provide practical implications for the development of targeted promotion strategies.

1. Introduction

Perspectives on the marine economy in 2030 are being shaped by various research findings emphasizing sustainability. Currently, the marine economy accounts for approximately $1.5 trillion of global economic activity, with its value expected to more than double by 2030 [1]. Marine leisure tourism, accounting for 26% of the marine economy, plays a critical role in the sustainable development of this sector [2]. Research also suggests that achieving sustainable development in marine leisure tourism will be challenging without adequate innovation and optimization [3]. This is particularly relevant to the yacht tourism sector, which is highly susceptible to external factors such as geographic location and seasonal variations. To meet evolving consumer demands, it is necessary to develop and optimize new tourism products [4,5,6]. Yacht tourism is a business that creates a space centered around the unique theme of marine leisure, rather than an everyday environment. Therefore, it is more important to continuously evolve and develop this space, rather than focusing on building a complete infrastructure or program.

Yacht tourism is an important part of marine leisure tourism worldwide, offering various opportunities in economic, socio-cultural, and environmental aspects. In recent years, the demand for yacht tourism has increased rapidly, driven by its ability to stimulate regional economies through the development and utilization of marine tourism resources. For example, a study in Russia’s Azov-Black Sea coastal region demonstrates that yacht tourism enhances regional tourism appeal and contributes to the modernization of yacht infrastructure and the popularization of yacht travel, thereby further supporting the tourism industry’s development [7]. This study evaluates consumer preferences and the state of yacht infrastructure to present strategic measures for promoting yacht tourism. It also emphasizes the need for the development of yacht tourism products that consider consumer preferences in areas such as tourism programs, services, and facility environments [7]. Research on the potential recovery of the yacht tourism industry after the pandemic indicates that the luxury yacht tourism sector responded well to the market even during the early stages of the pandemic and is expected to continue growing in the luxury and sports yacht segments. It suggests that luxury yacht tourism could create opportunities for revenue generation through innovative offerings, unlike the cruise industry, which faced significant setbacks due to the pandemic [8]. Additionally, a study on yacht tourism information services underscores the growing importance of digital platforms in this industry. While digital services for yacht rentals are still in their early stages compared to hotel bookings, they are advancing rapidly and have the potential to enhance the sustainability of the yacht tourism industry [9]. Similarly, research on the economic marketing of marine leisure tourism highlights the significant role of IoT (Internet of Things) in optimizing marine leisure tourism and creating new opportunities. However, limitations and issues with effective technology implementation make it critical to address these challenges [10].

The above studies have been conducted on the promotion of yacht tourism across various dimensions, such as regional factors, infrastructure, and distribution channels. However, understanding how consumers make complex decisions based on their preferences can provide valuable insights for developing strategies to revitalize the yacht tourism industry. Efforts to align tourism products, infrastructure, and policies with consumer preferences and demands are essential for enhancing the competitiveness of yacht tourism products while supporting the sustainable development of regional economies and the tourism industry. Conjoint analysis, a widely used technique for estimating consumer preference structures by evaluating alternatives with multiple attributes, has been increasingly applied in the tourism industry. Conjoint analysis can empirically examine the interaction effects and trade-offs among various attributes. It is distinct in that it analyzes consumer decision-making based on attribute combinations rather than individual attribute dimensions, allowing for a deeper understanding of which attributes consumers prioritize. For example, a study in India used conjoint analysis to design more appealing tourism packages by analyzing consumer preferences and willingness to pay [11]. Similarly, research supporting cultural tourism strategies in North Sardinia, Italy, applied conjoint analysis to evaluate tourism demand and estimate the economic value of cultural heritage through various hypothetical scenarios presented to consumers [12]. This method can also be applied to assess the proliferation of yacht tourism.

Therefore, this study aims to identify the relative importance of key attributes in yacht tourism preferred by tourists using conjoint analysis. By employing this approach, the study seeks to develop consumer-centered tourism strategies and provide foundational data to support the growth and advancement of the yacht tourism industry. The specific objectives of the study are: (1) to identify key attributes driving yacht tourism and analyze their relative importance according to tourist preferences; (2) to classify yacht tourists based on their prior experience and examine the relative importance of yacht tourism attributes according to their preferences; and (3) to determine the optimal combination of yacht tourism attributes as perceived by tourists, based on the analyzed relative importance.

2. Literature Review

2.1. Yacht Tourism

Yacht tourism has rapidly expanded in recent years, solidifying its position as one of the fastest-growing sectors within the global tourism industry, which remains a crucial driver of the world economy [4]. Recent market analysis estimates the global yacht industry at $9.1 billion in 2022, with projections indicating a rise to $13.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.2%. The scale of the global yachting industry is extensive. It encompasses 25 million recreational boats, over one million small- and medium-sized enterprises (SMEs), and approximately one million direct jobs. Additionally, the industry comprises about 25,000 marinas, with Europe accounting for a substantial portion of sports marinas, and generating $43.5 billion in manufacturing revenue [13]. In North America alone, 142 million individuals participate in boating activities, with 15.8 million boats in operation, 95% of which are domestically manufactured. The region also supports approximately 11,500 marina-related businesses, contributing to an estimated $18 billion in economic impact [14].

Currently, North America and Europe dominate the global yacht tourism sector, with the United States recognized as the most developed and mature market. As of 2019, the U.S. was home to approximately 15.75 million yachts, representing about 33% of the global total, and boasted the world’s most extensive yachting infrastructure, including 12,000 yachts and 560,000 berths. Meanwhile, Europe accounts for 4.76 million yachts and 10,197 marinas, with major concentrations in Germany, Sweden, Poland, Finland, and the Netherlands, each of which has more than 1000 marinas [15].

Yacht tourism also plays a significant role in regional economies. On average, yacht tourists spend approximately $287 per person per day, nearly twice the expenditure of conventional leisure tourists [13]. This elevated spending stimulates various sectors, including marina operations, fuel consumption, port services, job creation, and tourism-related industries. A prime example is Spain’s Balearic Islands, which attract over 100,000 yacht tourists annually. In this region, yacht tourists spend an average of €170 per day, in contrast to the €105.20 spent by conventional tourists, and the sector supports approximately 866 local jobs [16,17]. In Greece, the economic contribution of the yachting industry is particularly significant. The sector contributes approximately 4.5% of the country’s GDP, while the broader tourism industry accounts for 18% [18]. Globally, the industry includes an estimated 25,932 marinas and 31.64 million yachts, with the majority being small to mid-sized vessels (under 8 m in length) [13]. This global trend indicates that the yacht tourism industry is evolving into a strategic driver of economic growth and is highly likely to continue growing as a core sector within the broader tourism industry.

For the growth of the yacht tourism industry, consumer preferences are essential. In the tourism sector, these preferences are shaped by the actual availability of services offered, which plays a crucial role in generating tourism demand. Furthermore, the quality of tourism services and operational performance, intertwined with specific consumer preferences, influence whether potential tourists will purchase these services and determine their subsequent spending levels [19]. Consumer preferences and purchase intentions for yacht tourism products have demonstrated positive trends. According to one study, 66% of all respondents indicated a willingness to purchase yacht tourism products, and the demand for yacht tourism is showing optimistic growth overall. Notably, yacht training and experience programs emerged as the most preferred yacht tourism products, primarily utilized for spending leisure time with family or friends during weekends or holidays [20].

2.2. Conjoint Analysis

Conjoint analysis is a multivariate statistical technique widely used in marketing research. It analyzes consumers’ decision-making processes by evaluating their judgments, assessments, or preferences for various features when purchasing products or services [21]. The method assumes that products or services consist of multiple attributes and that consumers evaluate their preferences based on the combination of utilities provided by these attributes. It is based on the premise that assessing combinations of attribute values yields more accurate and reliable results than evaluating individual attributes independently [22].

Building on this foundation, conjoint analysis is considered an experimental method specifically designed to simulate consumers’ decision-making structures in a way that closely reflects real-world contexts. It is grounded in ‘random utility theory’, which assumes that individuals make choices to maximize their utility [23]. Because of this theoretical rigor, conjoint analysis is widely recognized as one of the most robust and representative choice experiment methodologies. A related approach that also stems from ‘random utility theory’ is Best-Worst Scaling (BWS). Like conjoint analysis, BWS is based on the assumption that individuals seek to maximize utility in their decision-making [24]. In BWS tasks, respondents are asked to identify both the most preferred (best) and least preferred (worst) items from a set of options. This method allows researchers to derive more precise insights into relative preferences in a structured and cognitively efficient manner [25].

Conjoint analysis helps identify consumer needs and preferences more accurately compared to simple surveys. Instead of asking for preferences for individual product attributes, it presents profiles in the form of hypothetical or real alternatives. By asking for overall evaluations or preferences, conjoint analysis reflects real decision-making processes in the market more realistically, providing a significant advantage over traditional surveys [26]. This approach allows researchers to assess the relative importance of different attributes and their impact on decision-making, making conjoint analysis a valuable tool for understanding and predicting consumer behavior [27]. As a result, it is widely recognized and actively applied in various fields [28].

3. Materials and Methods

3.1. Data Collection

The data for this study was collected through a purposive sampling method from March to May 2024. The researchers conducted surveys at 10 yacht marinas in South Korea (Seoul, Busan, Incheon, Hwaseong, Gimpo, Yeosu, Tongyeong, Mokpo, Jinhae, and Geoje) after prior arrangements, intentionally targeting tourists who had participated in yacht tourism programs. The purpose of the survey was clearly explained in advance, and only those who voluntarily agreed to participate took part in the anonymous survey. By completing and submitting the questionnaire, each respondent was considered to have understood the information provided and voluntarily consented to participate in the study.

A total of 500 questionnaires were distributed for data collection, including 200 for in-person surveys and 300 for online (mobile) surveys. Printed questionnaires were used for in-person responses, while the online survey was accessed via a QR code linked to a Google Form. Among them, 10 in-person responses were excluded due to poor quality, resulting in 190 valid responses (response rate: 95%, refusal rate: 5%). Additionally, 6 online responses were excluded for the same reason, leaving 294 valid responses (response rate: 98%, refusal rate: 2%). In total, 484 questionnaires were used for the final analysis (overall response rate: 96.8%, refusal rate: 3.2%). Among the respondents, 56.8% (n = 275) were male, and 43.2% (n = 209) were female. In terms of age, 25.0% (n = 121) of respondents were aged 20–29 years, 23.3% (n = 113) were aged 30–39 years, 29.6% (n = 143) were aged 40–49 years, and 22.1% (n = 107) were aged 50 and above. Also, regarding the number of yacht tourism experiences, 39.9% (n = 193) had no prior experience, 43.4% (n = 210) had experienced it once or twice, and 16.7% (n = 81) had participated three times or more.

3.2. Measurement

This study applied the following procedure to conduct conjoint analysis. In the first stage, the study identified attributes, which refer to the characteristics of a product or service that influence consumer choices during the decision-making process, and levels, which represent the values of those attributes [28]. Attributes and levels can be determined through literature reviews, expert and consumer interviews, or a mixed approach combining both methods [29].

To identify key attributes and levels of yacht tourism, this study conducted a comprehensive review of existing literature, focusing on both the practical elements of yacht tourism services and the theoretical underpinnings of consumer decision-making in tourism. The selection of attributes was based not only on the frequency of appearance in prior research but also on their relevance to tourists’ service evaluation criteria, including usability, accessibility, perceived value, and safety—common constructs in tourism behavior and service quality studies.

Various studies have explored the key attributes that influence the selection of yacht tourism. In the context of South Korea, the Ministry of Oceans and Fisheries’ Marina Information System [30] outlines the main functions of domestic marinas, including safety management, accommodation and rest facilities, information provision, and educational services. Park and Jeong [31] emphasized the importance of scenery and atmosphere, service quality, program offerings, auxiliary facilities, and events. Han [32] highlighted the need for diversifying programs, enhancing service quality, and improving facilities as key factors in tourists’ selection of yacht marinas. Likewise, Roh and Kim [33] identified cost, attractiveness, accessibility, programs, and auxiliary facilities as important attributes. Furthermore, Kim, Kim, Kim, and Jung [34] emphasized the importance of facilities, programs, and the role of trained instructors when selecting a yacht marina. These studies suggest that a wide range of attributes are considered relevant when choosing yacht tourism options in the Korean context.

Outside Korea, several international studies have also addressed key selection attributes in yacht tourism. Jonvirat [35] proposed specific service-related factors, including ease of use, accessibility to nearby tourist attractions, availability of tour guides, staff attitude, safety training and equipment, and convenience facilities. Yao, Zheng, and Parmak [36] highlighted natural scenery, marina infrastructure, transportation, service quality, safety, tourist information, and accessibility as major considerations. Shen, Kokkranikal, Christensen, and Morrison [37] focused on the cleanliness of marina facilities, staff attitudes, yacht docking safety, and the presence of both convenience and information services. Similarly, Mikulić, Krešić, and Kožić [38] identified staff attitude, docking facilities, cleanliness, availability of tourist information, marina accessibility, safety, and overall service quality as key attributes influencing yacht tourism decisions.

By synthesizing these findings, this study identified four core attributes that consistently appeared across the literature and were conceptually aligned with the study’s goal of understanding tourist preferences: programs, safety, service, and accessibility. Each attribute was then operationalized into levels based on classifications found in prior research. The ‘Yacht tourism program’ attribute included three levels: ‘yacht training programs’, ‘marine leisure sports experience programs’, and ‘yacht sailing programs’, reflecting the diverse activity types identified by Park and Jeong [31], Han [32], Roh and Kim [33], and Kim et al. [34]. For ‘Safety’, the levels were set as ‘yacht docking safety’ and ‘safety training and equipment provision’ based on the emphasis found in the Ministry of Oceans and Fisheries’ Marina Information System [30], Jonvirat [35] and Shen et al. [37], and Mikulić et al. [38]. The ‘Service’ attribute was classified into the provision of ‘professional tour guides’, availability of yacht marina facilities (e.g., restaurants, cafes, parking lots, and shower facilities and more)’, and the ‘operation of yacht tourism information platforms such as online or apps’, as reflected in Park and Jeong [31], Han [32], Jonvirat [35], Shen et al. [37], Yao et al. [36] and Mikulić et al. [38]. The ‘Accessibility’ attribute was determined based on the distance from the city center to the yacht marina, with two levels: ‘within 1 h and more than 1 h by transport’, aligning with indicators suggested by Jonvirat [35], Yao et al. [36], Shen et al. [37], Mikulić et al. [38], and Roh and Kim [33].

This structured approach to attribute and level selection not only draws on empirical evidence from prior studies but also supports the development of a robust conjoint analysis that reflects both theoretical relevance and real-world applicability. The specific attributes and levels of yacht tourism are presented in

Table 1. Attributes and level of yacht tourism.

Attributes	Level
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs
Safety	Yacht docking safety Safety training and equipment provision
Service	Professional tour guides Availability of yacht marina facilities (including a restaurant, café, parking lot, shower facilities, and more) Operation of yacht tourism information platforms (online, app)
Accessibility	A distance of within 1 h by transport (City center to the marina) A distance of over 1 h by transport (City center to the marina)

.

In the second step, 12 conjoint profiles with hypothetical combinations of attributes and levels were created for the conjoint analysis. In conjoint analysis, a profile is a list that combines attributes and their corresponding levels, allowing consumers to evaluate their preferences [28]. A full profile refers to a complete combination of all attributes and their respective levels tested in the study to provide a realistic description of the product. Full profiles are useful for understanding how customers value different combinations of product features; however, they often result in a large number of profiles, which can overwhelm respondents and make the data collection process cumbersome. For instance, in this study, a full-profile design would result in 36 profiles (3 × 2 × 3 × 2). Presenting all 36 profile combinations could not only make it difficult for respondents to determine preference rankings but also pose challenges in accurately identifying the precise preference order.

Given these challenges, researchers suggest using a fractional factorial design to reduce the number of profiles presented to respondents, making the analysis more manageable. A fractional factorial design is a method that presents a minimal number of profile combinations for analysis [39], and this method was applied in this study. The fractional factorial design, was implemented using the orthogonal design function in SPSS ver. 26.0, has the advantage of considering all attribute levels while presenting the minimum number of profile combinations necessary for measurement [40]. In this study, 12 profiles were ultimately selected through the fractional factorial design and presented to participants (see

Table 2. Profiles of yacht tourism.

Profiles	Yacht Tourism Program	Safety	Service	Accessibility
1	Yacht training programs	Yacht docking safety	Professional tour guides	A distance of over 1 h by transport
2	Yacht sailing Programs	Yacht docking safety	Professional tour guides	A distance of within 1 h by transport
3	Yacht sailing programs	Yacht docking safety	Availability of yacht marina facilities	A distance of over 1 h by transport
4	Yacht training programs	Safety training and equipment provision	Professional tour guides	A distance of within 1 h by transport
5	Yacht training programs	Safety training and equipment provision	Availability of yacht marina facilities	A distance of over 1 h by transport
6	Marine leisure sports experience programs	Yacht docking safety	Professional tour guides	A distance of within 1 h by transport
7	Yacht sailing programs	Safety training and equipment provision	Operation of yacht tourism information platforms	A distance of within 1 h by transport
8	Marine leisure sports experience programs	Yacht docking safety	Operation of yacht tourism information platforms	A distance of within 1 h by transport
9	Marine leisure sports experience programs	Yacht docking safety	Operation of yacht tourism information platforms	A distance of over 1 h by transport
10	Yacht sailing programs	Yacht docking safety	Operation of yacht tourism information platforms	A distance of over 1 h by transport
11	Yacht training programs	Safety training and equipment provision	Availability of yacht marina facilities	A distance of over 1 h by transport
12	Yacht sailing programs	Safety training and equipment provision	Availability of yacht marina facilities	A distance of within 1 h by transport

).

In the third step, respondents were presented with 12 conjoint profiles in the survey and ranked them from 1st to 12th based on their preferences for each profile combination. In the fourth step, the relative importance of the attributes was estimated based on the assigned rankings. In the fifth step, the relative importance of the attributes was analyzed based on whether respondents had prior yacht tourism experience. Finally, the estimated relative importance values and part-worth utilities of each level were applied to identify the optimal yacht tourism combination preferred by the respondents.

In this study, respondents were asked to rank a total of 12 profiles—each consisting of different combinations of attributes and levels—according to their preferences, from 1st to 12th. Based on the collected ranking data, part-worth utilities for each attribute level were estimated [41]. This conjoint analysis approach employs Ordinary Least Squares (OLS) regression, which calculates utility values based on the part-worth utility associated with each attribute level [42].

3.3. Data Analysis

In this study, SPSS version 24.0 was used to perform the analysis. Specifically, the fractional factorial method was utilized to extract 12 conjoint profiles from the 36 full profiles. Additionally, the relative importance that respondents assigned to the attributes and levels of yacht tourism was estimated not only for the overall tourist group but also for subgroups classified based on their yacht tourism experience.

3.4. Instrument

The survey instrument used in this study was a questionnaire, which consisted of three demographic questions regarding gender, age, and yacht tourism experience, as well as conjoint profiles generated through SPSS based on combinations of attributes and levels influencing yacht tourism. Respondents first answered the three demographic questions and then ranked their preferences for 12 conjoint profiles, each presenting different combinations of attributes and levels.

4. Results

4.1. Aggregate Conjoint Analysis

As the first analysis of this study, conjoint analysis was conducted to measure the relative importance of attributes influencing yacht tourism among all yacht tourists. Through conjoint analysis, the relative importance of each yacht tourism attribute and the part-worth utility (PWU) of different levels were calculated. As shown in

Table 3. Relative importance of yacht tourism for all yacht tourists.

Attributes	Level	PWU	RI (%)	Rating
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.677 0.213 0.464	39.754	1
Safety	Yacht docking safety Safety training and equipment provision	−0.357 0.357	28.483	2
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.190 −0.496 0.306	18.915	3
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.265 −0.265	12.848	4
Pearson’s r = 0.857 (p < 0.001)

PWU = Part-worth utility; RI = Relative importance.

, yacht tourists were most influenced by the program attribute (39.8%), followed by safety (28.5%), service (18.9%), and accessibility (12.8%). To compare the levels of each attribute, PWU was also estimated. The PWU quantifies how much each level of an attribute contributes to a respondent’s overall preference for a product or service, helping to determine the relative value or desirability of different feature combinations.

For program attributes, yacht sailing programs (0.464) were considered the most important level. In terms of safety, respondents showed a strong preference for safety training and equipment provision (0.357). Regarding service, operation of a yacht tourism information platforms (0.306) was identified as the most significant factor. For accessibility, respondents prioritized locations within one hour of travel via public transportation (from the city center to the marina) (0.265). In this conjoint analysis, Pearson’s correlation coefficient (Pearson’s r) was used to evaluate the model fit—meaning how well the estimated utilities explain the observed preferences of respondents. A higher value indicates better explanatory power of the model, and generally, a value of 0.7 or higher is considered to indicate good model fit [40]. In this study, Pearson’s r was 0.857 (p < 0.001), indicating a strong correlation and confirming that the conjoint analysis model fits the data well, meaning the predicted preferences align closely with respondents’ actual choices. The detailed results are presented in Table 3, and the relative importance of each attribute is illustrated in Figure 1 for ease of understanding.

4.2. Conjoint Analysis by Prior Yacht Tourism Experience

Secondly, conjoint analysis was conducted separately to examine the relative importance of attributes based on prior yacht tourism experience and to understand how prior experience influenced respondents’ preferences. To achieve this, respondents were divided into groups according to their experience status, allowing for a comparative analysis of the relative importance of each attribute level.

As shown in

Table 4. Relative importance of yacht tourism for yacht tourists with experience.

Attributes	Level	PWU	RI (%)	Rating
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.697 0.277 0.420	41.104	1
Safety	Yacht docking safety Safety training and equipment provision	−0.398 0.398	25.420	2
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.125 −0.489 0.364	22.801	3
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.401 −0.401	10.675	4
Pearson’s r = 0.841 (p < 0.001)

PWU = Part-worth utility; RI = Relative importance.

, respondents with yacht tourism experience considered the program attribute (41.1%) the most important, followed by safety (25.4%), service (22.8%), and accessibility (10.7%). To compare the levels within each attribute, part-worth utilities were also estimated. Among the program attributes, yacht sailing programs (0.420) were identified as the most important. In terms of safety, safety training and safety equipment provision (0.398) were the most preferred. For service, the operation of a yacht tourism information platforms (online, app) (0.364) was considered the most significant. Lastly, in terms of accessibility, locations within one hour of travel via public transportation (city center → marina) (0.401) were chosen as the most important level. Since Pearson’s r value for the conjoint analysis model was 0.841 (p < 0.001), the model is considered appropriate and well-fitted. The specific results are presented in Table 4, while Figure 2 visually illustrates the relative importance of each attribute to enhance clarity and understanding.

For respondents without yacht tourism experience (See

Table 5. Relative importance of yacht tourism for yacht tourists without experience.

Attributes	Level	PWU	RI (%)	Rating
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.635 0.288 0.347	29.132	2
Safety	Yacht docking safety Safety training and equipment provision	−0.460 0.460	34.515	1
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.222 −0.633 0.411	20.062	3
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.301 −0.301	16.291	4
Pearson’s r = 0.825 (p < 0.001)

PWU = Part-worth utility; RI = Relative importance.

), safety (34.5%) was rated as the most important attribute, followed by program (29.1%), service (20.1%), and accessibility (16.3%). Part-worth utilities were also estimated for this group. Among the safety attributes, safety training and safety equipment provision (0.460) were the most important. For programs, yacht sailing programs (0.347) were prioritized. Regarding service, operation of a yacht tourism information platforms (online, app) (0.411) was considered the most significant. Finally, in terms of accessibility, locations within one hour of travel via public transportation (city center → marina) (0.301) were selected as the most important level. Pearson’s r value for this group was 0.825 (p < 0.001), confirming the validity of the model. Detailed results are presented in Table 5, while Figure 3 offers a visual representation of the relative importance of each attribute to facilitate better understanding.

4.3. Optimal Combination of Yacht Tourism Attributes

This study aimed to determine the optimal combination of yacht tourism attributes based on relative importance and part-worth utility derived from conjoint analysis. Since part-worth utility for each attribute level varies based on their relative importance, the total utility of a combination must be calculated by multiplying each attribute’s relative importance by its corresponding part-worth utility for a valid comparison. Since utility combination measurement enables optimal product prediction, this study derived the optimal attribute-level combination by calculating the weighted sum of part-worth utilities, using relative importance as the weight.

First, the optimal combination of yacht tourism attributes and levels perceived by overall yacht tourists was identified as “a yacht sailing experience program that provides safety education and equipment, operates a yacht tourism information platform, and is accessible within one hour by public transportation from the city center”. The total utility of the optimal combination was found to be 0.378, as shown in

Table 6. Optimal combination of yacht tourism for all yacht tourists.

Attributes	Level	PWU	RI (%)	PWU × RI
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.677 0.213 0.464	39.754	−0.269 0.085 0.184
Safety	Yacht docking safety Safety training and equipment provision	−0.357 0.357	28.483	−0.102 0.102
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.190 −0.496 0.306	18.915	0.036 −0.094 0.058
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.265 −0.265	12.848	0.034 −0.034
The optimal combination: Yacht sailing programs (0.184) + Safety training and equipment provision (0.102) + Operation of yacht tourism information platforms (0.058) + A distance of within 1 h by transport (0.034) = 0.378

PWU = Part-worth utility; RI = Relative importance.

.

Secondly, an analysis of the optimal combination of yacht tourism attributes and levels perceived by yacht tourists with prior experience revealed that similar to overall yacht tourists, the optimal combination was identified as “a yacht sailing experience program that provides safety education and equipment, operates a yacht tourism information platform (online, app), and is accessible within one hour by public transportation from the city center”. However, the total utility of the optimal combination was found to be 0.399, indicating a higher utility compared to overall yacht tourists (see

Table 7. Optimal combination of yacht tourism for yacht tourists with experience.

Attributes	Level	PWU	RI (%)	PWU × RI
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.697 0.277 0.420	41.104	−0.286 0.114 0.172
Safety	Yacht docking safety Safety training and equipment provision	−0.398 0.398	25.420	−0.101 0.101
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.125 −0.489 0.364	22.801	0.029 −0.112 0.083
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.401 −0.401	10.675	0.043 −0.043
The optimal combination: Yacht sailing programs (0.172) + Safety training and equipment provision (0.101) + Operation of yacht tourism information platforms (0.083) + A distance of within 1 h by transport (0.043) = 0.399

PWU = Part-worth utility; RI = Relative importance.

).

Thirdly, an analysis of the optimal combination of yacht tourism attributes and levels perceived by yacht tourists without prior experience revealed that, while they shared the same attributes and levels as overall yacht tourists and those with prior experience, safety education and equipment provision emerged as a relatively more important attribute compared to the yacht sailing program. Accordingly, the optimal combination was identified as “a yacht sailing experience program centered on safety education, and equipment provision, with an operational yacht tourism information platform (online, app), and accessible within one hour by public transportation from the city center”. The total utility of the optimal combination was found to be 0.391. The detailed results of this optimal combination are presented in

Table 8. Optimal combination of yacht tourism for yacht tourists without experience.

Attributes	Level	PWU	RI (%)	PWU × RI
Yacht tourism program	Yacht training programs Marine leisure sports experience programs Yacht sailing programs	−0.635 0.288 0.347	29.132	−0.185 0.084 0.101
Safety	Yacht docking safety Safety training and equipment provision	−0.460 0.460	34.515	−0.159 0.159
Service	Professional tour guides Availability of yacht marina facilities Operation of yacht tourism information platforms	0.222 −0.633 0.411	20.062	0.044 −0.127 0.082
Accessibility	A distance of within 1 h by transport A distance of over 1 h by transport	0.301 −0.301	16.291	0.049 −0.049
The optimal combination: Safety training and equipment provision (0.159) + Yacht sailing programs (0.101) + Operation of yacht tourism information platforms (0.082) + A distance of within 1 h by transport (0.049) = 0.391

PWU = Part-worth utility; RI = Relative importance.

.

5. Discussion

The results of this study indicated that yacht tourists place the highest importance on the yacht sailing program among the four key yacht tourism attributes: program, safety, service, and accessibility. To foster the growth of the domestic yacht tourism industry, several factors must be considered, including the implementation of marketing strategies based on objective demand analysis, the adoption of advanced international technologies, the establishment of specialized yacht tourism training institutions, and the relaxation of regulations related to marine leisure activities [33,43,44]. Additionally, program offerings, safety measures, service quality, and accessibility should be tailored to meet tourists’ needs. In yacht tourism, providing personalized programs that reflect individual preferences can enhance tourist satisfaction, encourage repeat visits, and contribute to the growth of the yacht tourism industry [2].

Differentiated programs that can simultaneously satisfy participants’ diverse needs are one of the major factors that enhance tourist satisfaction. The findings of this study support that such programs have a significant impact on participants’ overall satisfaction [33,45]. Recently, yacht tourism programs have been actively incorporating regionally specialized tourism resources to develop unique and customized offerings. These efforts aim to provide a differentiated yacht tourism experience, allowing participants to engage in more immersive and dynamic experiences. Such initiatives positively influence tourist satisfaction and repeat visits while playing a crucial role in expanding the yacht tourism market.

The study results indicated that tourists ranked the yacht sailing program as the most important aspect of yacht tourism, reflecting consumer preferences. Accordingly, local governments and yacht tourism service providers should actively incorporate consumer preferences into program design by enhancing existing yacht education programs and marine leisure sports experiences while expanding yacht sailing programs. Moreover, by operating specialized programs unique to yacht tourism, providers should maximize its advantages and offer inclusive programs that accommodate diverse participants to enhance overall program satisfaction.

Additionally, this study examined the relative importance of yacht tourism attributes based on tourists’ prior experience with yacht tourism. The results revealed that tourists with prior yacht tourism experience ranked the attributes in the following order: program (41.1%), safety (25.4%), service (22.8%), and accessibility (10.7%). On the other hand, tourists without prior yacht tourism experience ranked safety (34.5%) as the most important attribute, followed by program (29.1%), service (20.1%), and accessibility (16.3%). These findings suggest that tourists without prior yacht tourism experience place greater importance on safety compared to other attributes. Since this group may have a relatively lower interest in yacht tourism, their concerns about safety take precedence over attributes directly related to the tourism experience itself. To encourage participation among individuals with no prior experience in yacht tourism, it is essential to implement strategies that emphasize safety, including providing safety education, offering safety equipment, and ensuring the stability of yacht docking facilities, thereby making yacht tourism more appealing to them.

Yacht tourism is a sport conducted on rivers or the sea, making it inherently riskier than land-based activities [46]. In addition to the intrinsic risks associated with water sports, factors such as fear of water, apprehension toward unfamiliar activities, and limited infrastructure and educational programs create barriers to participation in yacht tourism [47,48,49,50]. However, the growing popularity of water sports such as wakeboarding, surfing, and stand-up paddleboarding (SUP) among younger generations is changing public perceptions of water-based activities. In light of this shift, targeted marketing strategies emphasizing the safety of yacht tourism could effectively encourage participation. To foster a positive perception of local marine leisure tourism assets, Choi and Cho [51] highlighted the importance of distinguishing content programs, including safety measures. This finding supports the argument presented in the current study, further underscoring the crucial role of safety in promoting marine leisure tourism. Specifically, marketing efforts should focus on ensuring that both tourists unfamiliar with yacht tourism and the public who may not have a strong interest in it perceive yacht tourism as a safe and accessible activity. This requires implementing comprehensive promotional campaigns, expanding professional training programs, and reinforcing safety initiatives within yacht tourism.

Meanwhile, this study identified the optimal combination of yacht tourism attributes and levels, highlighting differences among overall yacht tourists, experienced yacht tourists, and inexperienced yacht tourists. The group with prior yacht tourism experience (0.399) exhibited the highest total utility value, while the group without prior experience (0.391) also recorded a higher value than the overall average (0.378). Conversely, the overall total utility value (0.378) was the lowest, likely due to the averaging of the utility values of both experienced and inexperienced tourists. A higher total utility value indicates that the corresponding attribute combination is perceived by tourists as more satisfying and valuable, whereas a lower utility value implies lower satisfaction and perceived value. Therefore, the fact that experienced yacht tourists exhibited the highest utility value suggests that having previously participated in yacht tourism, and they recognize the proposed attribute combination as both satisfactory and valuable. Meanwhile, the utility value of inexperienced tourists was not significantly different from that of experienced tourists, implying that, if safety is assured, they are likely to perceive yacht tourism as highly satisfying and valuable, reflecting their expectations.

Several managerial implications can be derived from these findings, as outlined below. First, it is crucial to develop and implement differentiated programs tailored to experienced yacht tourists. Given that this group perceives the proposed optimal combination as enhancing their satisfaction and the overall value of yacht tourism, it is essential to diversify and customize programs based on attributes with the highest utility value. For example, the introduction of private yacht tours, exclusive membership programs, and cost-effective yacht rental options could further enhance their satisfaction and perceived value.

On the other hand, for inexperienced yacht tourists, strategies that emphasize safety are essential for increasing perceived utility. As this group tends to regard safety as the most critical attribute of yacht tourism, safety education, the provision of safety equipment in experiential programs, and guided yacht experiences led by professionals should be actively incorporated. Furthermore, to enhance the enjoyment and attractiveness of yacht tourism, a diverse range of programs should be developed, including introductory experiences for beginners, customized programs for families, and package programs that integrate water sports with yacht tourism. These initiatives can improve accessibility and maximize overall satisfaction with yacht tourism.

6. Conclusions

This study aimed to determine the relative importance of preferred attributes influencing yacht tourism through conjoint analysis. By employing this approach, the study identified key attributes driving yacht tourism and examined differences in preferred attributes based on prior yacht tourism experience. The findings confirmed that the importance of these attributes varies depending on tourists’ experience levels. Based on these findings, this study holds significance in that it proposes consumer-centered practical strategies that can realistically reflect tourists’ perceptions in the field of yacht tourism.

However, this study has several limitations that should be addressed in future research. To obtain more meaningful results, the following improvements are recommended. First, the yacht tourism attributes and levels applied in this study were selected based on previous research. However, additional attributes influencing yacht tourism may exist beyond those considered in this study. Therefore, future research should build upon the attributes and levels identified in this study while incorporating field-oriented attributes obtained through direct interviews with actual tourists and yacht tourism service providers. This approach would enhance the practical applicability of the research findings. Second, this study classified tourists based on their prior experience with yacht tourism and identified differences in the relative importance of preferred attributes between the two groups. However, these differences were not statistically tested, and conclusions regarding variations in attribute importance were drawn solely from differences in relative importance values. Therefore, future research should incorporate statistical tests to clearly verify differences in the relative importance of preferred attributes between the groups, ensuring more reliable and robust findings.