Economic valuation using travel cost method (TCM) in Kilim Karst Geoforest Park Langkawi Malaysia

Shuib A., . and Matthew N. K., . and Ramachandran S., . and Mohammad-Afandi S. H., . Economic valuation using travel cost method (TCM) in Kilim Karst Geoforest Park Langkawi Malaysia. pp. 78-89. ISSN 0128-1283

Kilim Karst Geoforest Park is a special conservation area within a Permanent Forest Reserve (PFR) consisting of limestone landscape an extensive mangrove forest system beaches coastal wetlands and islands. However the limestone forest reserve and mangrove areas have been identified as environmentally sensitive and are under threat by development activities. Currently there is a lack of information on the economic benefits of the geoforest park in terms of services. A demand model of international visitors to the Kilim Karst Geoforest Park (KKGP) was derived and compared the benefit estimated using both travel cost and consumer surplus adjustment techniques. The Travel Cost Method (TCM) has been employed to derive the demand model whilst the concept of consumer surplus was used for value determination and comparison. The findings showed that the benefit estimated using travel cost adjustments based on satisfaction attained is ‚288 0 0 and number of hours spent in the park is ‚141 0 0 which was greater than that for the consumer surplus adjustment based on satisfaction attained ‚278 640 000 and number of hours spent ‚123 840 000. The study proposed the travel cost adjustment technique findings rather than the consumer surplus adjustment technique since it was based on specific KKGP model estimation. In conclusion the findings on the monetary value of the geoforest park will alert the community regarding the importance of conserving KKGP.

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Abstract

Kilim Karst Geoforest Park is a special conservation area within a Permanent Forest Reserve (PFR) consisting of limestone landscape an extensive mangrove forest system beaches coastal wetlands and islands. However the limestone forest reserve and mangrove areas have been identified as environmentally sensitive and are under threat by development activities. Currently there is a lack of information on the economic benefits of the geoforest park in terms of services. A demand model of international visitors to the Kilim Karst Geoforest Park (KKGP) was derived and compared the benefit estimated using both travel cost and consumer surplus adjustment techniques. The Travel Cost Method (TCM) has been employed to derive the demand model whilst the concept of consumer surplus was used for value determination and comparison. The findings showed that the benefit estimated using travel cost adjustments based on satisfaction attained is ‚288 0 0 and number of hours spent in the park is ‚141 0 0 which was greater than that for the consumer surplus adjustment based on satisfaction attained ‚278 640 000 and number of hours spent ‚123 840 000. The study proposed the travel cost adjustment technique findings rather than the consumer surplus adjustment technique since it was based on specific KKGP model estimation. In conclusion the findings on the monetary value of the geoforest park will alert the community regarding the importance of conserving KKGP.

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Item Type:	Article
AGROVOC Term:	Forest reserves
AGROVOC Term:	Resource conservation
AGROVOC Term:	Economic value
AGROVOC Term:	Natural resources
AGROVOC Term:	Mangrove forests
AGROVOC Term:	Consumers
AGROVOC Term:	Utilization costs
AGROVOC Term:	Nature conservation
AGROVOC Term:	Agrotourism
AGROVOC Term:	Tourism
Depositing User:	Mr. AFANDI ABDUL MALEK
Last Modified:	24 Apr 2025 00:54
URI:	http://webagris.upm.edu.my/id/eprint/8193

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