Valuing Recreational and Conservational Benefits of a Natural Tourist Site: Case of Cherrapunjee
AbstractNature based tourism has been a very important source of income and employment in Meghalaya as the state is endowed with diverse scenic natural beauty that attracts a large number of domestic and foreign tourists every year. This paper attempts to examine the impact of various social, economic and locational factors on the visiting decision of the tourists to Cherrapunjee, the wettest place on the earth. The recreation benefit enjoyed by the visitors, from the natural beauty of the site is estimated by using both the revealed and stated willingness to pay i.e., Travel Cost method (TCM) and people's willingness to pay for the preservation and improvement of the area through Contingent Valuation technique (CVM). Distance travelled and travel cost incurred by the visitors is found to have significantly negative impacts on the frequency of visit while income, education has significantly positive impact on the same. The estimated recreation benefits obtained from revealed and expressed WTP for the preservation and improvement of the site is in favour of policy induced increase of recreation charges in the site.
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Bibliographic InfoArticle provided by The Indian Econometric Society in its journal Journal of Quantitative Economics.
Volume (Year): 9 (2011)
Issue (Month): 2 (July)
Postal: Managing Editor, Journal of Quantitative Economics, Indira Gandhi Institute of Development Research (IGIDR), Gen. A.K. Vaidya Marg, Goregaon (E), Mumbai 400 065 , INDIA
Find related papers by JEL classification:
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
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- Gillig, Dhazn & Woodward, Richard T. & Ozuna, Teofilo, Jr. & Griffin, Wade L., 2003. "Joint Estimation of Revealed and Stated Preference Data: An Application to Recreational Red Snapper Valuation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(2), October.
- STÅLE Navrud & GERALD Pruckner, 1997. "Environmental Valuation – To Use or Not to Use? A Comparative Study of the United States and Europe," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 10(1), pages 1-26, July.
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