Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method
This paper applies dichotomous choice Contingent Valuation Method to access the net economic values of ecotourism resources in Taman Negara National Park (TNNP). Based on the estimation results, equivalent Willingness to Pay (WTP) measures were calculated using logit and probit models. The calculate...
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| Format: | Article |
| Language: | English |
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Faculty of Economics and Business, Universiti Malaysia Sarawak
2013
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| Online Access: | http://psasir.upm.edu.my/id/eprint/28305/1/Sustainability%20of%20ecotourism%20resources%20at%20Taman%20Negara%20National%20Park.pdf |
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| author | Samdin, Zaiton Abdul Aziz, Yuhanis Radam, Alias Yacob, Mohd Rusli |
| author_facet | Samdin, Zaiton Abdul Aziz, Yuhanis Radam, Alias Yacob, Mohd Rusli |
| author_sort | Samdin, Zaiton |
| collection | UPM |
| description | This paper applies dichotomous choice Contingent Valuation Method to access the net economic values of ecotourism resources in Taman Negara National Park (TNNP). Based on the estimation results, equivalent Willingness to Pay (WTP) measures were calculated using logit and probit models. The calculated mean WTP ranged from RM11.01 to RM18.27 for the logit model, and for the probit model ranged from RM19.00 to RM30.32. The probit model performed slightly better than logit model in terms of McFadden R2. Therefore, the mean WTP obtained from the probit model would be a more reliable measure; RM23.36. Thus, estimation of the net benefit of TNNP for the year 2009 for visitors of 86,674 is RM2,024,704.64. This study also shows that visitors are willing to pay more for entrance permit; compared to current entrance permit (RM1). The implication of this study is important as a guideline to assist policy makers in terms of welfare measures such as recreational benefits and design an effective pricing policy at TNNP. For TNNP, the result of this study also provides an economic ground for its management’s effort as well as the policy makers’ decision to continue maintaining the area as a national park; thus one that will make a contribution to the long-term sustainable development of ecotourism areas. |
| first_indexed | 2024-03-06T08:10:58Z |
| format | Article |
| id | upm.eprints-28305 |
| institution | Universiti Putra Malaysia |
| language | English |
| last_indexed | 2024-03-06T08:10:58Z |
| publishDate | 2013 |
| publisher | Faculty of Economics and Business, Universiti Malaysia Sarawak |
| record_format | dspace |
| spelling | upm.eprints-283052016-01-28T07:14:28Z http://psasir.upm.edu.my/id/eprint/28305/ Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method Samdin, Zaiton Abdul Aziz, Yuhanis Radam, Alias Yacob, Mohd Rusli This paper applies dichotomous choice Contingent Valuation Method to access the net economic values of ecotourism resources in Taman Negara National Park (TNNP). Based on the estimation results, equivalent Willingness to Pay (WTP) measures were calculated using logit and probit models. The calculated mean WTP ranged from RM11.01 to RM18.27 for the logit model, and for the probit model ranged from RM19.00 to RM30.32. The probit model performed slightly better than logit model in terms of McFadden R2. Therefore, the mean WTP obtained from the probit model would be a more reliable measure; RM23.36. Thus, estimation of the net benefit of TNNP for the year 2009 for visitors of 86,674 is RM2,024,704.64. This study also shows that visitors are willing to pay more for entrance permit; compared to current entrance permit (RM1). The implication of this study is important as a guideline to assist policy makers in terms of welfare measures such as recreational benefits and design an effective pricing policy at TNNP. For TNNP, the result of this study also provides an economic ground for its management’s effort as well as the policy makers’ decision to continue maintaining the area as a national park; thus one that will make a contribution to the long-term sustainable development of ecotourism areas. Faculty of Economics and Business, Universiti Malaysia Sarawak 2013-06 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/28305/1/Sustainability%20of%20ecotourism%20resources%20at%20Taman%20Negara%20National%20Park.pdf Samdin, Zaiton and Abdul Aziz, Yuhanis and Radam, Alias and Yacob, Mohd Rusli (2013) Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method. International Journal of Business and Society, 14 (2). pp. 235-244. ISSN 1511-6670 http://www.ijbs.unimas.my/index.php/content-abstract/current-issue/item/213-sustainability-of-ecotourism-resources-at-taman-negara-national-park-contingent-valuation-method |
| spellingShingle | Samdin, Zaiton Abdul Aziz, Yuhanis Radam, Alias Yacob, Mohd Rusli Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title | Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title_full | Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title_fullStr | Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title_full_unstemmed | Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title_short | Sustainability of ecotourism resources at Taman Negara National Park: contingent valuation method |
| title_sort | sustainability of ecotourism resources at taman negara national park contingent valuation method |
| url | http://psasir.upm.edu.my/id/eprint/28305/1/Sustainability%20of%20ecotourism%20resources%20at%20Taman%20Negara%20National%20Park.pdf |
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