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Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia

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 environm...

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Main Authors: Matthew, Nitanan Koshy, Shuib, A., Ramachandran, S., Mohammad Afandi, S. H.
Format: Article
Language:English
Published: Forest Research Institute Malaysia 2019
Online Access:http://psasir.upm.edu.my/id/eprint/79470/1/Economic%20valuation%20using%20Travel%20Cost%20Method%20.pdf
http://psasir.upm.edu.my/id/eprint/79470/
https://www.frim.gov.my/publication/journal-of-tropical-forest-science-jtfs/
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spelling my.upm.eprints.794702021-05-25T23:40:22Z http://psasir.upm.edu.my/id/eprint/79470/ Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia Matthew, Nitanan Koshy Shuib, A. Ramachandran, S. Mohammad Afandi, S. H. 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 euro288,000,000, and number of hours spent in the park is euro141,000,000, which was greater than that for the consumer surplus adjustment based on satisfaction attained euro278,640,000 and number of hours spent euro123,840,000. 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. Forest Research Institute Malaysia 2019-01 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/79470/1/Economic%20valuation%20using%20Travel%20Cost%20Method%20.pdf Matthew, Nitanan Koshy and Shuib, A. and Ramachandran, S. and Mohammad Afandi, S. H. (2019) Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia. Journal of Tropical Forest Science, 31 (1). pp. 78-89. ISSN 0128-1283; ESSN: 2521-9847 https://www.frim.gov.my/publication/journal-of-tropical-forest-science-jtfs/ 10.26525/jtfs2019.31.1.078089
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description 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 euro288,000,000, and number of hours spent in the park is euro141,000,000, which was greater than that for the consumer surplus adjustment based on satisfaction attained euro278,640,000 and number of hours spent euro123,840,000. 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.
format Article
author Matthew, Nitanan Koshy
Shuib, A.
Ramachandran, S.
Mohammad Afandi, S. H.
spellingShingle Matthew, Nitanan Koshy
Shuib, A.
Ramachandran, S.
Mohammad Afandi, S. H.
Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
author_facet Matthew, Nitanan Koshy
Shuib, A.
Ramachandran, S.
Mohammad Afandi, S. H.
author_sort Matthew, Nitanan Koshy
title Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
title_short Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
title_full Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
title_fullStr Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
title_full_unstemmed Economic valuation using Travel Cost Method (TCM) IN Kilim Karst Geoforest Park, Langkawi, Malaysia
title_sort economic valuation using travel cost method (tcm) in kilim karst geoforest park, langkawi, malaysia
publisher Forest Research Institute Malaysia
publishDate 2019
url http://psasir.upm.edu.my/id/eprint/79470/1/Economic%20valuation%20using%20Travel%20Cost%20Method%20.pdf
http://psasir.upm.edu.my/id/eprint/79470/
https://www.frim.gov.my/publication/journal-of-tropical-forest-science-jtfs/
_version_ 1701164415017025536
score 13.211869

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