2023
DOI: 10.3390/su15086468
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Economic Valuation of Lake Tana: A Recreational Use Value Estimation through the Travel Cost Method

Abstract: Lake Tana is a well-known tourist spot in northern Ethiopia that lures both domestic and foreign tourists. The lake’s value is still underrated, despite the site’s immense potential for recreation and tourism. In this study, the recreational value of Lake Tana is estimated, and the consumer characteristics associated with recreational demand are analyzed. The study employs a Zero-Truncated Poisson (ZTP) regression model for data generated by the Individual Travel Cost Method (ITCM) and draws information from 1… Show more

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Cited by 9 publications
(4 citation statements)
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“…Nowadays, the TCM is a well-established methodology that has been widely applied to assess different recreational activities in natural and rural environment. More in detail, there is also a great deal of studies that specifically focus on wetlands, as in Fleming and Cook [30] for Lake McKenzie (Fraser Island), or on lakes, as in Wubalem et al [31] for Lake Tana situated in the northwest region of Ethiopia or in Tienhaara et al [32] for Lake Puruvesi in Finland. In general, the results of these studies suggest to decision-makers what the overall economic gains derived from the touristic and recreational activities are while preserving the natural resources.…”
Section: The Travel Cost Methods (Tcm)mentioning
confidence: 99%
“…Nowadays, the TCM is a well-established methodology that has been widely applied to assess different recreational activities in natural and rural environment. More in detail, there is also a great deal of studies that specifically focus on wetlands, as in Fleming and Cook [30] for Lake McKenzie (Fraser Island), or on lakes, as in Wubalem et al [31] for Lake Tana situated in the northwest region of Ethiopia or in Tienhaara et al [32] for Lake Puruvesi in Finland. In general, the results of these studies suggest to decision-makers what the overall economic gains derived from the touristic and recreational activities are while preserving the natural resources.…”
Section: The Travel Cost Methods (Tcm)mentioning
confidence: 99%
“…People's willingness to pay to visit a site is thus estimated based on the number of trips they make at different travel costs [47,48]. This method is known as a "showed choice" approach because it "reveals" visitors' willingness to pay through their habits of spending [47,49].…”
Section: Individual Travel Cost Methods (Itcm)mentioning
confidence: 99%
“…Variables of age, income, and education are accommodated by this method. This information is difficult to obtain in ZTCM (Batubara et al, 2020;Wubalem, 2023).…”
Section: Economic Valuation For Natural Tourism Sitementioning
confidence: 99%
“…A visitor's value to the environment, an unmarketed attribute, can be deduced from the costs incurred at the location visited (Wubalem, 2023). A visitor's travel costs can be seen from transportation costs, entry fees, expenses at the place of recreation, and the cost of time.…”
Section: Economic Valuation For Natural Tourism Sitementioning
confidence: 99%