Economic Valuation Using Travel Cost Method (Tcm) in Kilim Karst Geoforest Park, Langkawi, Malaysia

Abstract

is a special conservation area within a Permanent Forest Reserve (PFR), consisting of limestone landscape, an extensive mangrove forest system, beaches, coastal wetlands and islands. However, the limestone, forest reserve and mangrove areas have been identified as environmentally sensitive, and are under threat by development activities. Currently, there is a lack of information on the economic benefits of the geoforest park, in terms of services. A demand model of international visitors to the Kilim Karst Geoforest Park (KKGP) was derived and compared the benefit estimated using both travel cost and consumer surplus adjustment techniques. The Travel Cost Method (TCM) has been employed to derive the demand model, whilst the concept of consumer surplus was used for value determination and comparison. The findings showed that the benefit estimated using travel cost adjustments, based on satisfaction attained, is €288,000,000, and number of hours spent in the park is €141,000,000, which was greater than that for the consumer surplus adjustment based on satisfaction attained €278,640,000 and number of hours spent €123,840,000. The study proposed the travel cost adjustment technique findings rather than the consumer surplus adjustment technique, since it was based on specific KKGP model estimation. In conclusion, the findings on the monetary value of the geoforest park will alert the community regarding the importance of conserving KKGP.

Measuring the Economic Use Values of Recreation Resources in Protected Areas, Evidence from Nyerere National Park in Tanzania

“…Outdoor recreation services involve the provision and use of recreation resources for enjoyment purposes [13]. Travel Cost Method (TCM) is commonly used to value non marketed goods and services associated with recreation amenities in specific sites [14].…”

Valuing biodiversity of Dachigam National Park: a choice experiment application

“…TCM has been extensively applied to value recreational amenities of national parks and protected areas (Mitra, 2003;Chopra, 2004;Khan, 2006;Gurluk and Rehber, 2008;Ankomah and Adu, 2015;Zella and Ngunyali, 2016;Bhatt and Bhat, 2019;Matthew et al, 2019). Some methodological and technical issues associated with TCM have also been analyzed, such as construction of travel and time cost (Martinez-Espineira and Amoako-Tuffour, 2008a, b), substitute site value and multidestination visitors (Loomis et al, 2000;McKean et al, 2003;Martinez-Espineira and Amoako-Tuffour, 2008a, b) and truncation bias (Cameron and Trivedi, 1998;Winkelmann, 2000).…”

A Discrete Choice Experiment in Estimate Public Willingness to Pay for Attributes of Water Services in Terengganu, Malaysia

“…The data for this study was obtained from the survey where face-to-face personal interview of a structured questionnaire was employed. This is the highly applied technique in economic valuation studies as employed by Blamey et al (1999), Christie et al (2006), Kanyoka et al (2008), Mohd Rusli et al (2011), Syamsul Herman et al (2012, Mohamad Safee et al (2013), Latinopoulos (2014), Mahirah et al (2016), Nur Syuhada et al (2019) and Matthew et al (2019). In this research, the survey was a face-to-face interview conducted by the researcher with the help of field assistants.…”