PAPER ID:IJIM/V.2(XI)/109-118/18

AUTHOR: Ashifuddin Ahmed Saikia

TITLE :A REVIEW OF PEOPLES’ WILLINGNESS TO PAY DETERMINANTS IN THE CONTEXT OF NATURE-BASED TOURISM RESOURCES

ABSTRACT:Measuring peoples’ willingness to pay helps to measure the economic value of a good. Understanding the attitude and willingness to pay (WTP) of people towards tourism resources is not only important for estimating their recreational value but also helps in formulating and implementing suitable promotional and pricing strategies. An appropriate entrance fee arrangement can generate higher revenues from visitors which can be solve the problem of deficit funding to some extent. The higher revenue can be utilised for better conservation and management activities. Existing literature supports that peoples’ WTP is affected by a range of factors. These factors or determinants are influential in peoples’ spending decisions for recreational purposes. Identifying these factors is very important for assessing the suitability and effectiveness of the existing prices and facilities. Also, the information on peoples’ desires, their motivations and attitude can be a good source of reference for formulating future strategies for improvement of services and amenities and for attracting more visitors and revenue. The main objective of this paper is to review some of the literature in the field of nature based tourism resources with the aim to identify some of the important factors or determinants which can influence peoples’ behaviour and WTP for such resources. Literature suggests that Income, education and environmental concern and awareness among people have shown considerable positive relationship. Visitor and visit characteristics as well as survey related issues such as survey mode, elicitation techniques, payment vehicle used etc. are found to be important determinants of peoples’ WTP.

KEYWORDS:Tourism, attitude, Willingness to pay, environmental resources, pricing, recreational value.

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