Economic Valuation of Senjoyo Spring Nature Tourism Using Travel Cost Method and Willingness to Pay
JEL Classification: Q51; Q26; Z32; H41; R11.
Abstract
The Senjoyo Spring is a natural tourist destination in Semarang Regency that serves ecological, social, and economic functions for the surrounding community. However, the economic value of tourism in the area has not yet been comprehensively measured. This study aims to estimate the economic value of nature tourism at Senjoyo Spring using the Individual Travel Cost Method (ITCM) and Willingness to Pay (WTP) approaches. The study utilized primary data from 45 respondents obtained through a survey employing accidental sampling. The ITCM analysis was conducted using a regression model based on the relationship between travel costs, income, travel duration, perceptions of environmental quality, and visitor frequency. The WTP approach was used to measure visitors’ willingness to pay additional costs for improvements in tourism facilities and environmental quality. The results indicate that travel costs have a negative and significant effect on visit frequency, while the other variables have a positive but insignificant effect. The consumer surplus value is Rp57,803 per person per visit, with a potential tourism economic value reaching Rp6.36 billion per year. The WTP results indicate that tourists are generally willing to pay higher amounts if facilities and environmental quality are improved. The combination of the ITCM and WTP approaches provides a more comprehensive estimate of tourism economic value to support sustainable tourism management.
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