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Economic Valuation of Jogjakarta's Tourism Attributes: A Contingent Ranking Analysis

Author

Listed:
  • Jamal Othman

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

  • Anggi Rahajeng

    (Centre for Economics and Public Policy Studies (CEPPS/PSEKP), Gadjah Mada University, Jogjakarta, Indonesia)

Abstract

This paper employs the contingent ranking technique to estimate the economic benefits of selected tourism attributes in Jogjakarta, Indonesia. The attributes assessed are: the Mount Merapi volcanic view at Kaliurang Resort; the cultural-mystic and natural allure of Parangtritis Beach; the historical legacy of the Borobudur temple (the world's largest Buddhist monument and a UNESCO World Heritage Site); and the living cultural heritage of Jogjakarta's Kraton or the King's palace. The study shows that the economic values of such attributes are substantial and that there is merit for an upward review of the admission fees for Borobudur and Kaliurang Resort.

Suggested Citation

  • Jamal Othman & Anggi Rahajeng, 2013. "Economic Valuation of Jogjakarta's Tourism Attributes: A Contingent Ranking Analysis," Tourism Economics, , vol. 19(1), pages 187-201, February.
    • Handle: RePEc:sae:toueco:v:19:y:2013:i:1:p:187-201
    DOI: 10.5367/te.2013.0187
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    References listed on IDEAS

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    1. J.M. Bowker & John C. Bergstrom & Joshua Gill, 2007. "Estimating the Economic Value and Impacts of Recreational Trails: A Case Study of the Virginia Creeper Rail Trail," Tourism Economics, , vol. 13(2), pages 241-260, June.
    2. Othman, Jamal & Bennett, Jeff & Blamey, Russell, 2004. "Environmental values and resource management options: a choice modelling experience in Malaysia," Environment and Development Economics, Cambridge University Press, vol. 9(6), pages 803-824, December.
    3. Caplan, Arthur J. & Grijalva, Therese C. & Jakus, Paul M., 2002. "Waste not or want not? A contingent ranking analysis of curbside waste disposal options," Ecological Economics, Elsevier, vol. 43(2-3), pages 185-197, December.
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    Cited by:

    1. José L. Oviedo & Hong Il Yoo, 2017. "A Latent Class Nested Logit Model for Rank-Ordered Data with Application to Cork Oak Reforestation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(4), pages 1021-1051, December.
    2. Isabel Mendes, 2016. "Assessing the Values of Archaeological Heritage," Working Papers Department of Economics 2016/02, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    3. Isabel Mendes, 2015. "Tackling the Multidimensional Characteristics of Archaeological Heritage with Preference Based Approaches," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 5(4), pages 995-995.

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