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Economic Valuation of an Urban Lake Recreational Park: Case of Taman Tasik Cempaka in Bandar Baru Bangi, Malaysia

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  • Jamal Othman

    (Faculty of Economics and Management, Universiti Kebangsaan Malaysia, UKM Bangi Selangor 43600, Malaysia)

  • Yaghoob Jafari

    (Institute for Food and Resource Economics, University of Bonn, Nußallee, 2153115 Bonn, Germany)

Abstract

There is growing public support for an outdoor, nature-based urban park, which offers the local population a wide range of recreational services for an improved quality of life. This study estimates the economic value of recreational benefits for the case of a lake-based urban park known as Taman Tasik Cempaka (TTC) in Bandar Baru Bangi in Selangor, Malaysia. The Travel Cost Method (TCM) was used to generate the demand function for park visitation and the recreational benefits were estimated using the Poisson and Negative Binomial (NB) models. The net benefits of recreation per visitor were evaluated at MYR 6.2 per trip while the price elasticity of demand was highly inelastic at −0.48. The result provides support for the imposition of an entrance fee and the subsequent revenue collection may be used for park upkeep and conservation.

Suggested Citation

  • Jamal Othman & Yaghoob Jafari, 2019. "Economic Valuation of an Urban Lake Recreational Park: Case of Taman Tasik Cempaka in Bandar Baru Bangi, Malaysia," Sustainability, MDPI, vol. 11(11), pages 1-15, May.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:11:p:3023-:d:235094
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    Cited by:

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    2. Nitanan Koshy Matthew & Ahmad Shuib & Nitya Ganeshwaari Raja Gopal & Goh Ie Zheng, 2022. "Economic Value of Recreation as an Ecosystem Service in Ayer Keroh Recreational Forest, Malaysia," Sustainability, MDPI, vol. 14(9), pages 1-13, April.
    3. Emylia Shakira Jamean & Azlan Abas, 2023. "Valuation of Visitor Perception of Urban Forest Ecosystem Services in Kuala Lumpur," Land, MDPI, vol. 12(3), pages 1-18, February.
    4. Silva, Tiago Manuel & Silva, Susana & Carvalho, Armindo, 2022. "Economic valuation of urban parks with historical importance: The case of Quinta do Castelo, Portugal," Land Use Policy, Elsevier, vol. 115(C).
    5. Diana Andreea Onose & Ioan Cristian Iojă & Mihai Răzvan Niță & Gabriel Ovidiu Vânău & Ana Maria Popa, 2020. "Too Old for Recreation? How Friendly Are Urban Parks for Elderly People?," Sustainability, MDPI, vol. 12(3), pages 1-14, January.

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