Recreational Valuation of Pasikudah Beach Using Zonal Travel Cost Method
Journal Title: Scholars Journal of Economics, Business and Management - Year 2017, Vol 4, Issue 10
Abstract
Abstract:Pasikuda beach is recognized as one of safest beaches in Sri Lanka and very famous among the visitors. The bay was endangered due to coral mining and bleaching, and now it was proposed as a marine sanctuary by National Aquatic Resources Research and Development Agency. This study was designed to analyze the recreational value of Pasikudah beach in monetary terms in order to preserve it for future generation and for further improvements in quality. Since Pasikudah beach is an environmental resource the non-market valuation is necessary. Zonal travel cost method was used to calculate the recreational valuation of Pasikudah beach. Data on travel cost and related information were collected from randomly selected 80 visitors to the site from August to October 2016 at Pasikudah beach using two-stage random sampling method. Structured questionnaires were used to collect data and was pretested prior to use.Visitation rate / year to Pasikudah beach was significantly and negatively influenced by round trip travel cost (p < 0.1). The mean value for travel cost to Pasikudah was estimated in Sri Lankan Rupees (Rs.) 357.35 /- person and the mean value for round trip travel cost (including accommodation and onsite expanses) to Pasikudah was Rs. 989.40 /- person / visit. Total economic benefits from recreational uses of the Pasikudah beach was estimated around Rs. 26,361,843.21 / year. Keywords:Non market valuation, Recreational value, Round trip travel cost, Travel Cost method.
Authors and Affiliations
S. Komahan, Gunaratne LHP
Keywords
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