Fan Base Economic-recreational Value of Azadi Stadium

Purpose: This research aimed to estimate the economic-recreational value of Azadi Stadium from the spectators’ perspective using a contingent valuation approach (CVM).Methodology: This research was descriptive and applied in nature. The statistical population includes fans who have attended matches at Azadi Stadium at least once in 2022. A sample of 418 individuals was selected from this population using simple random sampling, and the necessary information was collected through the willingness-to-pay questionnaire developed by Wicker and Colleagues (2016). Data analysis was conducted using the logit method, utilizing the Stata and Shazam software.Findings: The findings reveal that the average willingness of fans to pay to attend games at Azadi Stadium is 91,000 Tomans per game, and the estimated economic and recreational value for one season is approximately 1,350 billion Rials. Furthermore, factors such as income, watching matches on television, satisfaction with stadium facilities, and enjoyment of the games significantly and positively impact the willingness to pay to attend stadium matches. On the other hand, variables like age, education level, proposed price, and marital status negatively influence this willingness to pay.Originality: Limited research has been conducted on the economics of recreational sports facilities, explicitly focusing on contingent valuation methodology. Estimating the economic value is crucial for decision-making regarding investment, improvement, and operation of stadiums.