This study is to investigate the determinants of consumption expenditure by considering potential expenditure factors such as socioeconomic, fishing village tourism behavior, motivation for visits, and optional attributes of tourists at Muchangpo webfoot octopus and finespotted flounder festival in Boryeong. The analysis data are 300 questionnaires of visitors to the festival during the 2018 Muchangpo Mysterious Sea Road Webfoot Octopus and Finespotted Flounder Festival from March 17 to April 8, 2018. As a result of analyzing the factors of consumption expenditure of tourists to the festival in Boryeong, socioeconomic factors such as gender and residential groups outside Chungcheong-do have a positive (+) effect on consumption expenditure. Among the factors of fishing village tourism behavior, the only number of days of stay more than one night has a positive (+) effect on consumption expenditure. In addition, in the analysis of factors for motivation to visit the festival, fun/interest and simple rest/leisure have a significant positive (+) effect on expenditure whereas stress relief have a negative (-) effect on expenditure. In the analysis of the factors of festival selection attributes, tourism facilities has a significant positive (+) effect on expenditure, but natural scenery and excellent natural scenery show a significant negative (-) effect on expenditure. The main implications that can be obtained from the results of this study are as follows. First, it suggests that the promotion should be actively conducted outside of Chungcheong Province in order to achieve the original purpose of revitalizing the local economy from the Muchangpo webfoot octopus and finespotted flounder festival. Second, it indicates that there should be a variety of unique high-quality festival programs differentiated from other local festivals, promoting the existence of simple rest/leisure facilities rather than webfoot octopus boat fishing experiences or natural scenery (i.e., mysterious road and sunset) in order to attract festival tourists' spending at the Muchangpo webfoot octopus and finespotted flounder festival.

Abstract
Ⅰ. 서 론
Ⅱ. 분석모형 및 선행연구
    1. 분석모형
    2. 선행연구
Ⅲ. 연구 설계 및 표본
    1. 연구 설계
    2. 표본 자료
Ⅳ. 실증분석 결과
    1. 축제방문동기 및 선택 속성 분석
    2. 소비지출 결정요인 분석
Ⅴ. 요약 및 결론
REFERENCES

• 강석규(제주대학교 경영학과) | Seok-Kyu Kang (Department of Business Administration, Jeju National University) Corresponding author