THE IMPACT OF PERCEIVED VALUE ON TOURIST LOYALTY IN KUALA LUMPUR

Abstract

Kuala Lumpur has become a vibrant tourist destination, attracting visitors from diverse cultural backgrounds and preferences. However, despite its numerous attractions and multicultural charm, it faces challenges in a competitive landscape. Perceived value and loyalty in tourism encompass travelers' holistic assessments of a destination's utility, considering both benefits and sacrifices. Therefore, evaluating perceived value's impact on tourist loyalty in Kuala Lumpur is essential. This study employs a quantitative research approach to examine perceived value components, highlighting distinct patterns in Functional Value (FV), Emotional Value (EV), and Social Value (SV) analyses. Strong positive associations between perceived value dimensions and tourist loyalty (TL) are observed. Specifically, significant positive correlations exist between TL and each independent variable (IV): Functional Value (FV), Emotional Value (EV), and Social Value (SV). Regression analysis confirms the predictive power of perceived values on TL, with SV emerging as the most influential predictor, followed by FV. EV does not exhibit statistically significant predictive power. These findings underscore the interconnectedness of perceived values and their profound influence on tourist loyalty in Kuala Lumpur.