✦ LIBER ✦

Valuation of nature-based tourism resources using dichotomous choice contingent valuation method

✍ Scribed by Choong-Ki Lee

Book ID: 104314814
Publisher: Elsevier Science
Year: 1997
Tongue: English
Weight: 414 KB
Volume: 18
Category: Article
ISSN: 0261-5177
DOI: 10.1016/s0261-5177(97)00076-9

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✦ Synopsis

The purpose of this paper is to measure the potential revenue from nature-based tourism resources in the environmentally sensitive area of Mt Minju, South Korea. A dichotomous choice contingent valuation method was employed to estimate the mean willingness-to-pay, contingent on a hypothetical market scenario. The empirical results show that the economic value of nature-based tourism resources was estimated at 5905 Won (ca US$ 7) per visitor. This implies that the significant economic value of natural resources will be lost from any large-scale development by degrading natural environments. In addition to the value of natural resources, nature-based tourism also provides the locally owned small tourist businesses with lower leakages than the externally owned large-scale ones. Low leakage implies that local residents gain more direct income from nature-based tourism.

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