Recreational users' willingness to pay and preferences for changes in planted forest features

Bhubaneswor Dhakal, Richard Yao (), James A. Turner and Tim Barnard

Forest Policy and Economics, 2012, vol. 17, issue C, 34-44

Abstract: This study examines the current and potential economic value of recreation by users of a New Zealand periurban planted forest. The value was derived from a face-to-face survey of 578 users of Whakarewarewa forest in Rotorua. The recreational benefit, estimated by the travel cost method, was NZ$34 per visit for walkers and NZ$48 per visit for mountain bikers. Aggregating these estimated values by the number of forest visits in 2009 suggests that the economic value of recreation in this planted forest was approximately NZ$8million in that year. Visitors' preferences for alternative features of the planted forest were analysed using a latent class model to account for preference heterogeneity. This analysis indicates that forest users would gain a higher recreational satisfaction from an increase in diversity of forest features. Forest user characteristics that positively influence satisfaction from an increase in diversity were analysed using an ordinary least squares regression model. Important user characteristics include being a New Zealand born European, a local resident of Rotorua, and elderly.

Keywords: Planted forest; Recreation; Travel cost method; Discrete choice analysis; Latent class logit model; Heteroskedastic ordinary least squares model (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:17:y:2012:i:c:p:34-44

DOI: 10.1016/j.forpol.2011.11.006

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