FOREST VALUATION USING TRAVEL COST METHOD (TCM): CASES OF PAHANG NATIONAL PARK AND SRENGSENG JAKARTA URBAN FOREST

Authors

  • Akhmad Solikin Polytechnic of State Finance STAN MINISTRY OF FINANCE INDONESIA
  • Rohana Abdul Rahman National Institute of Valuation MINISTRY OF FINANCE MALAYSIA
  • Edy Saefrudin Directorate General of State Asset Management MINISTRY OF FINANCE INDONESIA
  • Norafifah Suboh National Institute of Valuation MINISTRY OF FINANCE MALAYSIA
  • Nur Hafizah Zahari National Institute of Valuation MINISTRY OF FINANCE MALAYSIA
  • Eri Wahyudi Polytechnic of State Finance STAN MINISTRY OF FINANCE INDONESIA

DOI:

https://doi.org/10.21837/pm.v17i9.612

Keywords:

recreational forest, travel cost method, economic value, negative binomial model, valuation of natural resources, consumer surplus

Abstract

This study aims to estimate the economic value of a recreational park by using the travel cost method (TCM). Case studies have been done for Pahang National Park, Malaysia, and Srengseng urban forest, Jakarta, Indonesia. The data was obtained from a structured interview with visitors. The data was analysed by using Poisson and negative binomial model. Based on the survey result, it is known that the Srengseng urban forest is local public good used by local public residents whereas the Pahang National Park is visited by visitors from all over the world. The frequency determinants of visits to the urban forest are cost, age, occupation, gender, and visitor’s satisfaction; meanwhile, visit the national park is affected by travel cost, age, education, income and number of visits. The TCM method utilized in this research resulted in the Srengseng Urban Forest total economic benefit of RM0.44 million per year and the Pahang National Park total consumer surplus of RM15.3 million.

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Published

2019-05-06

How to Cite

Solikin, A., Abdul Rahman, R., Saefrudin, E., Suboh, N., Zahari, N. H., & Wahyudi, E. (2019). FOREST VALUATION USING TRAVEL COST METHOD (TCM): CASES OF PAHANG NATIONAL PARK AND SRENGSENG JAKARTA URBAN FOREST. PLANNING MALAYSIA, 17(9). https://doi.org/10.21837/pm.v17i9.612

Issue

Vol. 17 (2019): PLANNING MALAYSIA JOURNAL : Volume 17, Issue 1, 2019

Section

Article

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eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.

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