Review of valuation from a non-market perspective: travel cost method for rural tourism
Purpose: The study aims to conduct a critical analysis of available economic tools to value non‐market rural tourism products and services, and assess the strengths and weaknesses of these tools. Design/methodology/approach: The paper reviews existing valuation methods to better understand how estim...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Emerald Group Publishing
2013
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| Online Access: | http://psasir.upm.edu.my/id/eprint/30738/1/Review%20of%20valuation%20from%20a%20non.pdf |
| _version_ | 1796971801386942464 |
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| author | Mohammad Afandi, Syamsul Herman Samdin, Zaiton Shuib, Ahmad |
| author_facet | Mohammad Afandi, Syamsul Herman Samdin, Zaiton Shuib, Ahmad |
| author_sort | Mohammad Afandi, Syamsul Herman |
| collection | UPM |
| description | Purpose: The study aims to conduct a critical analysis of available economic tools to value non‐market rural tourism products and services, and assess the strengths and weaknesses of these tools. Design/methodology/approach: The paper reviews existing valuation methods to better understand how estimates of rural tourism products and services are conducted. The paper also critically evaluates the applicability of these methods.Findings: The study concludes that the selection of a method is mainly based on applicability of the approach. In assessing the non‐market value of rural tourism products and services, a method is selected by identifying its strengths and weaknesses. A review of previous studies suggests the evaluation of the practicality of each method according to the topic studied.
Originality/value: The paper contributes to a better understanding of available valuation approaches that give reliable estimates on non‐market rural tourism products and services. |
| first_indexed | 2024-03-06T08:18:28Z |
| format | Article |
| id | upm.eprints-30738 |
| institution | Universiti Putra Malaysia |
| language | English |
| last_indexed | 2024-03-06T08:18:28Z |
| publishDate | 2013 |
| publisher | Emerald Group Publishing |
| record_format | dspace |
| spelling | upm.eprints-307382016-09-09T02:15:08Z http://psasir.upm.edu.my/id/eprint/30738/ Review of valuation from a non-market perspective: travel cost method for rural tourism Mohammad Afandi, Syamsul Herman Samdin, Zaiton Shuib, Ahmad Purpose: The study aims to conduct a critical analysis of available economic tools to value non‐market rural tourism products and services, and assess the strengths and weaknesses of these tools. Design/methodology/approach: The paper reviews existing valuation methods to better understand how estimates of rural tourism products and services are conducted. The paper also critically evaluates the applicability of these methods.Findings: The study concludes that the selection of a method is mainly based on applicability of the approach. In assessing the non‐market value of rural tourism products and services, a method is selected by identifying its strengths and weaknesses. A review of previous studies suggests the evaluation of the practicality of each method according to the topic studied. Originality/value: The paper contributes to a better understanding of available valuation approaches that give reliable estimates on non‐market rural tourism products and services. Emerald Group Publishing 2013 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/30738/1/Review%20of%20valuation%20from%20a%20non.pdf Mohammad Afandi, Syamsul Herman and Samdin, Zaiton and Shuib, Ahmad (2013) Review of valuation from a non-market perspective: travel cost method for rural tourism. Worldwide Hospitality and Tourism Themes, 5 (4). pp. 329-341. ISSN 1755-4217 10.1108/WHATT-03-2013-0018 |
| spellingShingle | Mohammad Afandi, Syamsul Herman Samdin, Zaiton Shuib, Ahmad Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title | Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title_full | Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title_fullStr | Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title_full_unstemmed | Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title_short | Review of valuation from a non-market perspective: travel cost method for rural tourism |
| title_sort | review of valuation from a non market perspective travel cost method for rural tourism |
| url | http://psasir.upm.edu.my/id/eprint/30738/1/Review%20of%20valuation%20from%20a%20non.pdf |
| work_keys_str_mv | AT mohammadafandisyamsulherman reviewofvaluationfromanonmarketperspectivetravelcostmethodforruraltourism AT samdinzaiton reviewofvaluationfromanonmarketperspectivetravelcostmethodforruraltourism AT shuibahmad reviewofvaluationfromanonmarketperspectivetravelcostmethodforruraltourism |