Resumen de Economic valuation of recreational attributes using a choice experiment approach: An application to the Galapagos Islands
Renato Perez Loyola, Erda Wang, Nannan Kang
Despite the increasing number of visitors to Galapagos National Park, the tourism industry payslittle attention to the distinct preferences of tourists toward park attributes, including both itsnatural resources and managerial emphasis. To “monetize” the benefits of these attributesrequires utilizing nonmarket valuation techniques. Using a stated preference questionnaire, weestimated the economic value of the park’s recreational attributes. The following five attributeswere selected: endangered species, prevalence of garbage, site infrastructure, air quality, andentrance fees. The results of this study demonstrate that tourists place the highest willingness to payvalues on increased protection of animal species (US$26.9) and garbage reduction (US$111.2). Theseresults highlight the economic contributions for park management, with a potential for valueimprovement of US$38.1 per tourist if the park’s combined attributes are upgraded from the presentcondition to the optimum condition.
