Estimating the Economic Value of Tourist Attractions Using the Contingent Valuation Method (Case Study: Dowlatabad Garden, Yazd Province, Iran)

The tourist industry is one of the most important sources of economic growth and development and its rapid growth leads to social, economic, and environmental changes. It is necessary to value tourist attractions in an appropriate manner to express the role and importance of tourism and convert it into monetary value. In the present study, the value of recreation was estimated in Dowlatabad Garden using the contingent valuation method (CVM). Also, a logit model was used to investigate factors influencing the willingness of visitors to pay for the improvement and protection of this garden. For this purpose, the Cochrane formula firstly was used to determine the sample size, and then questionnaires and face-to-face interviews were used to collect the data. Regarding results, the variables of monthly income, job, education, vehicles, and the maximum offered amount significantly affect the willingness to pay. But, there is not a significant relationship between willingness to pay and age, gender, and visiting season. The average willingness to pay for each visitor to protect and improve the condition of Dowlatabad Garden was estimated 80,300 Rials. According to the number of annual visitors, the Annual Social Value (ASV) of this historical place was estimated 11,842 million Rials. The results of the present study indicate that the conditional valuation method is efficient for the valuation of non-market goods and services.