Economic Valuation of Shalbon Bihar Using Travel Cost Method

Rafia Islam LINA; Md. Shamimul ISLAM

doi:10.38142/jtep.v5i1.1255

Authors

Rafia Islam LINA Comilla University, Bangladesh
Md. Shamimul ISLAM Comilla University, Bangladesh

DOI:

https://doi.org/10.38142/jtep.v5i1.1255

Keywords:

Economic Valuation, Travel Cost Method, Shalbon Bihar, Bangladesh

Abstract

Shalban Bihar is one of the most prominent archaeological sites as well as a tourist spot in the Comilla district of Bangladesh. A fast-growing economic sector like tourism, Shalban Bihar creates huge economic value by serving recreation, which plays a significant role in the development of the local community as well as the national economy. The main objective of the study is to estimate the monetary value arising from the recreational services of Shalbon Bihar. The study is based on primary data. The respondents of the study were the visitors who traveled to Shalbon Bihar during the survey period. The sample size of the study is 200. There was a systematic random sampling process used to choose the respondents. Data were collected through face-to-face interviews following a semi-structured questionnaire. The Statistical Package for Social Sciences (SPSS) was utilized to analyze the gathered data. Descriptive statistical analysis and Poisson regression analysis were performed to interpret the data. From the study, it is observed that the average travel cost is 554.60 taka, and the cost of travelling time of an individual is 576.25 taka. Thus, Shalban Bihar has created a value of 1052 taka per visit by providing recreational services to the visitors. The study suggests undertaking different improvement plans like establishing an ATM booth, modern toilet facility and residential facility for the site to boost the economic contribution to the local as well as national economy.

Author Biography

Rafia Islam LINA, Comilla University, Bangladesh

Associate Professor, Department of Economics, Comilla University, Cumilla-3506, Bangladesh.

References

Abala, D. O. (1987). A theoretical and empirical investigation of the willingness to pay for recreational services: a case study of Nairobi National Park. Eastern Economic Review, 3(2), 271–292.

Ahmad, S. (1994). Demand for and value of outdoor recreation in Langkawi by domestic visitors. PhD thesis, Universiti Putra Malaysia, Selangor.

Ahmed, R., & Hossain, M. E. (2018). Economic Valuation of Recreational Services Provided at Safina Park: A Travel Cost Approach. Journal of Business Studies, 11(1), 39-52.

Alvarez, S., & Larkin, S. L. (2010). Valuing ecological restoration and recreational benefits in a mountain protected area: the case of Los Nevados National Park, Colombia. Journal of Sustainable Development, 3(4), 3–16.

Baldares, M. J., & Laarman, J. G. (1990). Derechos de entrada a las areas protegidas de Costa Rica. Ciencias Economicas, 10(1), 63-76.

Bartczak, A., Lindhjem, H., Navrud, S., Zandersen, M., & Żylicz, T. (2008). Valuing forest recreation on the national level in a transition economy: The case of Poland. Forest Policy and Economics, 10(7-8), 467-472.

Bateman, I. (1993). Evaluation of the Environment: A Survey of Revealed Preference Techniques. Working Paper No. 93-06, Centre for Social and Economic Research on the Global Environment, London.

Blakemore, F., & William, A. (2008). British Tourists' Valuation of a Turkish Beach Using Contingent Valuation and Travel Cost Methods. Journal of Coastal Research, 24(6), 1469–1480.

Chen, W., Hong, H., Liu, Y., Zhang, L., Hou, X., & Raymond, M. (2004). Recreation demands and economic value: an application of travel cost method for Xiamen Island. China Economic Review, 15(4), 398–406.

Chowdhury, M. A. F., & Shahriar, F. M. (2012). The impact of tourism in a deficit economy: a conceptual model in Bangladesh perspective. Business Intelligence Journal, 5(1), 163–168.

Clawson, M. (1959). Methods of measuring the demand for and value of outdoor recreation. Resources for the Future, 10.

Clawson, M., & Knetsch, J. L. (1966). Economics of Outdoor Recreation. Johns Hopkins Press.

Clough, P. W. J., & Meister, A. D. (1991). Allowing for multiple-site visitors in travel cost analysis. Journal of Environmental Management, 32(2), 115–125.

Das, R. K., & Chakraborty, J. (2012). An evaluative study on tourism in Bangladesh. Research Journal of Finance and Accounting, 3(1), 84–96.

Dwyer, J. F., Peterson, G. L., & Darragh, A. J. (1983). Remove from marked records estimating the value of urban forests using the travel cost method. Journal of Arboriculture, 9, 182–185.

Echeverria, J., Hanrahan, M., & Solorazano, R. (1995). Valuation of non-priced amenities provided by the biological resources within the Monteverde cloud forest preserve, Costa Rica. Ecological Economics, 13(1), 43–52.

Grandstaff, S., & Dixon, J. A. (1986). Evaluation of Lumpinee Park in Bangkok, Thailand. in Dixon, J.A. and Hufschmidt, M.M. (Eds): Economic Valuation Techniques for the Environment: A Case Study Workbook, Johns Hopkins University Press, Baltimore.

Haider, M. Z., Hossain, T., Siddiqui, O. I., & Islam, M. S. (2018). Economic Valuation of the tourist spots in Bangladesh. Int. J. Tourism Policy, 8(1), 42-64.

Herath, G., & Kennedy, J. (2004). Estimating the economic value of Mount Buffalo national park with the travel cost and contingent valuation models. Tourism Economics, 10, 63–78.

Islam, K., & Majumder, S. C. (2015). Economic Evaluation of Foy’s lake, Chittagong using travel cost method. Indian Journal of Economics and Development, 3(8), 1–6.

Kaosa-ard, M., Patmasiriwat, D., Panayotou, T. & Deshazo, J. R. (1995). Green Financing: Valuation and Financing of Khao Yai National Park in Thailand. Thailand Development Research Institute, Bangkok.

Kawsar, M. H., Pavel, A. A., Uddin, M. B., Rahman, S. A., Mamun, M. A. A., Hassan S. B., Alam, M. S., Tamrakar, R., & Wadud, M. A. (2015). Quantifying Recreational Value and the Functional Relationship between Travel Cost and Visiting National Park. International Journal of Environmental Planning and Management, 1(3), 84–89.

Knapman, B., & Stanley, O. (1991). A Travel Cost Analysis of Recreation Use Value of Kadau National Park. Canberra. Resource Assessment Commission Inquiry, 42.

Lindberg, K., & Johnson, R. L. (1994). Estimating demand for ecotourism sites in developing nations. Trends, 31(2), 10-15.

Liston-Heyes, C., & Heyes, A. (1999). Recreational Benefits from the Dartmoor National Park. Journal of Environmental Management, 55, 69-80.

Majbritt, T. (2010). Eco-resort for sustainable tourism. The Daily Star, 29 April, page-2.

Moran, D. (1994). Contingent valuation and biodiversity: Measuring the user surplus of Kenyan protected area. Biodiversity and Conservation, 3(8), 663–684.

Rolfe, J., & Gregg, D. (2012). Valuing beach recreation across a regional area: The Great Barrier Reef in Australia. Ocean & Coastal Management, 69, 282–290.

Shammin, R. M. (1999). Application of the travel cost method (TCM): A case Study of Environmental valuation of Dhaka Zoological Garden. IUCN, Switzerland.

Stevens, T. H., & Allen, P. G. (1980). Estimating the benefits of recreation under conditions of congestion. Journal of Environmental Economics and Management, 7, 395–400.

Syamsul, H. M. A. (2010). Valuing recreational benefits of Perlis State Park, Malaysia using travel cost method. Unpublished PhD. Dissertation, Universiti Putra Malaysia, Selangor.

Tahzeeda, J., Khan, M. R., & Bashar, R. (2018). Valuation approaches to ecosystem goods and services for the National Botanical Garden, Bangladesh. Environmental & Socio-Economic Studies, 6(1), 1-9.

Zaiton, S. (2008). Willingness to pay in Taman Negara: A contingent Valuation Method. International Journal of Economics and Management, 2(1), 81–94.