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‘A travel cost analysis of the value of Carnarvon Gorge National Park for recreational use’: reprise
Author(s) -
Beal Diana
Publication year - 1998
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/1467-8489.00051
Subject(s) - recreation , citation , value (mathematics) , library science , geography , political science , computer science , law , machine learning
National parks as natural areas preserved from the more disruptive forms of economic activity provide a multitude of benefits to humankind, and these may be classified as either on-site use benefits or off-site benefits. This paper reports an applied case which is concerned with the measurement of the value of the recreational use benefits for one such national park. Whilst the national park is under no immediate threat, having an indication of the economic value of recreational opportunities within the park can aid future planning and decision-making. The emphasis in this study was to use and test TCM for rapid valuation appraisal. Demand curves for both camping and day visits are estimated. and consumer surplus calculated. A value of $40m. is estimated as the net present value of the recreational use alone in 1993-94 values at 6 per cent real rate of interest in perpetuity.