What is it about?
Despite the increasing number of tourists to the Galapagos National Park (GNP) over the past two decades, the tourism industry pays little attention to the distinct preferences of tourists towards the park attributes including both its natural resources as well as managerial emphasis. To "monetize" the benefits of these attributes requires to utilize non-market valuation techniques.
Photo by Magdalena Kula Manchee on Unsplash
Why is it important?
Our findings show (1) how the identification of tourist preferences and park’s attributes are crucial for understanding the impact tourists' travel decisions have in the Galapagos National Park GNP. (2) A CE model is proposed by using a conditional logit (CL) and random parameter logit (RPL) regressions to allocate the value tourists' are willing to pay for the attributes analyzed. (3) The creation of policies that could bring more revenue, management control, and conservation guidelines in the GNP and other UNESCO World Heritage Sites.
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This page is a summary of: Economic valuation of recreational attributes using a choice experiment approach: An application to the Galapagos Islands, Tourism Economics, November 2019, SAGE Publications, DOI: 10.1177/1354816619885236.
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