Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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Estimating the Economic Value of Ecotourism in Anmyeondo Tidal Wetlands Using the Contingent Valuation Method

조건부가치측정법을 이용한 안면도갯벌의 생태관광에 대한 경제적 가치추정

  • Pyo, Hee-Dong (Faculty of Marine Business and Economics, Pukyong National University) ;
  • Chae, Dong-Ryul (Department of Economics, University of Portsmouth Boathouse No. 6 College Road HM Naval Base)
  • Published : 2004.03.31
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Abstract

The paper is to estimate the economic value of ecotourism in Anmyeondo tidal wetlands using a double-bounded dichotomous choice (DBDC) model of the Contingent Valuation Method (CVM). For the reliability and the validity of CVM a survey was conducted for 511 visitors by personal interview method in Anmyeondo during August 2000, and respondents were asked for maximum Willingness-To-Pay (WTP) to buy a ticket fer the tidal flat's ecotourism. Overall, respondents answered that they would be willing to pay 55,879 won for a ticket under the study. All equations and results estimated are statistically significant at the 1% or 5% level. For the aggregation of WTP estimates, the sample values are extended to the total annual number of visitors in Anmyeondo area during 1998. A conservative estimate, which considers the calibration factor (0.5) recommended by NOAA (1994) and a positive response rate (83.17%), is 73 billion won.

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References

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