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VOL. 4, ISSUE 7 (2017)
Economic valuation of recreational benefits from government botanical garden, the Nilgiris: An individual travel cost approach
Authors
V Rajkumar, S Boopathi
Abstract
Recreation is an activity of leisure and an essential part of human life, the demand for this activity has been increasing with the increase in population, income and mobility. There is, however, limited scarce natural and financial resource involved in improved provision of recreation. Hence, there is a need to estimate the economic benefit of recreation sites (Botanical Garden) so as to properly and efficiently allocate scarce resources for improvements. In this backdrop, the present paper addresses the issue like determination and quantitative estimation of the recreational use value generated by Government Botanic Garden (GBG), The Nilgiris by using the Individual Travel Cost Method (ITCM). A purposive sampling technique was used to choose 150 visitors and a linear regression method was employed to investigate determinants of recreational use value at GBG. The number of visits (per year) was taken as the dependent variable in this model. Travel cost, location, age of the respondent, family size, family income and garden quality were evaluated as independent variables and were found as major determinants of visits to the garden. Our estimated results indicate that, individual consumer surplus was determined at Rs.4000 (US$ 59.64) and total consumer surplus is determined as Rs.11.757 billion (US$ 175.293 million). This value corresponds to an annual recreational use value of the garden. The activities such as exhibitions (Flower show), picnics and natural beauty offered to visitors played an important recreational role in increasing the degree of satisfaction.
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Pages:01-05
How to cite this article:
V Rajkumar, S Boopathi "Economic valuation of recreational benefits from government botanical garden, the Nilgiris: An individual travel cost approach". International Journal of Multidisciplinary Research and Development, Vol 4, Issue 7, 2017, Pages 01-05
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