AbstractThis research attempts to provide guidelines for the management of the Klein Karoo National Arts Festival by determining factors and identifying the determinants of value for money for this unique tourism product. A survey was conducted during the duration of the festival that was held from 31 March 2012 to 7 April 2012. Seven hundred questionnaires were distributed while 600 completed questionnaires were returned. Statistical analysis consisted of three stages: descriptive statistics to analyse the socio-demographic profile of respondents; after which a factor analysis, focusing on factors influencing value for money perceptions, and a regression analysis were performed. Four factors were identified: experience, amenities, quality and price and event attributes. Of these, it was found that event attributes is the premier factor contributing to value for money at a festival. This study could add to the body of knowledge regarding the travel behaviour of visitors as well as pinpointing what festival attendees perceive as value for money. Consequently, this article can be used to assist managers in providing value for money and in obtaining a competitive advantage in the industry by revising management structures and marketing campaigns.