Willingness to Pay for Biodiversity Conservation
AbstractNature based tourism is the fastest growing tourism in many parts of the world. The attitude towards conservation of nature is measured by individuals¡¯willingness to pay. This study has made an attempt to investigate the determinants of tourists¡¯willingness to pay (WTP) for biodiversity conservation. The determinants include a combination of socio-economic and site-specific characteristics of tourists. The study was conducted in Sikkim, which is India¡¯s prime nature based tourism destination. Results show that willingness to pay is determined by the level of education and income of tourists. Among site-specific characteristics length of stay and number of spots are the significant determinants of willingness to pay. This empirical research is a valuable input to identify market segment among tourists, which might help to generate more revenue for biodiversity conservation in Sikkim.
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Bibliographic InfoPaper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200938.
Length: 21 pages
Date of creation: Dec 2009
Date of revision: Dec 2009
Willingness to pay; conservation; tourism; logit model; tobit model;
Find related papers by JEL classification:
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
This paper has been announced in the following NEP Reports:
- NEP-AGR-2010-01-30 (Agricultural Economics)
- NEP-ALL-2010-01-30 (All new papers)
- NEP-CUL-2010-01-30 (Cultural Economics)
- NEP-ENV-2010-01-30 (Environmental Economics)
- NEP-TUR-2010-01-30 (Tourism Economics)
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