Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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Estimating the Economic Value of the East Sea Beach Using Individual Travel Cost Method

개별여행비용법(TCM)을 이용한 동해안 해수욕장의 경제적 가치추정

  • Pyo, Heedong (Department of Marine Business and Economics, College of Fisheries Science Pukyong National University)
  • 표희동 (부경대학교 수산과학대학 해양수산경영학과)
  • Received : 2017.01.25
  • Accepted : 2017.03.21
  • Published : 2017.03.30
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Abstract

The purpose of this paper is to estimate the economic value of beaches which are the major part of the East Sea Coast. ITCM (Individual Travel Cost Method) is applied to estimate the economic value of its beaches using Poisson, negative binomial, truncated Poisson and truncated negative binomial models. The consumer surplus during length of stay per capita is 214,088 won in beaches overall on the East Sea Coast, 206,398 won in Gangwon-do beaches and 271,171 won in Gyeongbuk/Ulsan beaches. Annual total economic value of its beaches considering the number of visitors at beaches is 6,269 billion won (3,970 billion won in Kangwondo beaches, 2,299 billion won in Kyungbuk/Ulsan beaches).

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References

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