Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway

Yrgalem Desta; Mekonnen Bersisa

doi:doi:10.11648/j.ijeee.20190403.12

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Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway

Yrgalem Desta, Mekonnen Bersisa

Published in International Journal of Economy, Energy and Environment (Volume 4, Issue 3)

Received: 5 April 2019 Accepted: 12 June 2019 Published: 5 August 2019

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Abstract

Lake Ziway is one of the largest fresh water Rift Valley Lakes of the Ethiopia; the Lake holds the intrinsic value and aesthetic quality of a wetland, including its functions like shelter for a diversity of plants, aquatic birds and fishes and it is also home of different monastery. This beautiful nature of the lake attracts many visitors. However, despite the many sources of attractions, because the public goods nature of the lake its demand and value in terms of its recreation service to society is not known, which makes deficit to sustain and expand the recreational service of the lake. For this reason this study analyzed the recreational value of Lake and its demand using an individual travel cost method (ITCM) based on face-to-face interview with 223 randomly selected local visitors of the Lake. The truncated Poisson model was used in the empirical analysis to estimate the recreational value of the lake and to identify its determinants. The econometric result of this model shows visitor’s martial statues, family size, and mode of transportation, type of visit, distance and travel cost are significant factors that affects the visitation rate for recreational site. And the study estimates that the on-site recreational benefits per visit per person was about 3353.64 per year and the expected total annual on-site recreational benefit of the site is 118,698,734.16 birr.

Published in	International Journal of Economy, Energy and Environment (Volume 4, Issue 3)
DOI	10.11648/j.ijeee.20190403.12
Page(s)	56-62
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Individual Travel Cost Method, Truncated Poisson Model, Lake Valuation

References

[1]	Petra S. et.al. (2009). Past, Current and Potential Production of Fish in Lake Ziway. Wageningen International.
[2]	EWNHS. (2010). A Glimpse at Biodiversity Hotspots of Ethiopia. Ethiopian Wildlife & Natural History Society (EWNHS).
[3]	Loomis J., Yorizane S., and Larson D.,. (2000). Testing Significance of Melti Destination and Multipurpose Trip Effects in a Travel Cost Method Demand Model for Whale Watching Trips. Agricultural and Resource Economics Review.
[4]	Kothari C. (2004). Reserch Methodology: methodes and techinues. New Delhi: New Age International.
[5]	Amirnejad H. et.al. (2011). The Comparison of Contingent Valuation and Travel Cost Method in Estimation of Economic Value of Recreational, Tourism and Aesthetic Functions.
[6]	Haab C. and McConnell E. (2002). Valuing Environmental and Natural Resources; Econometrics Of Non-Market Valuation. Edward Elgar Publishing Limited.
[7]	Greene H. (2003). econometic Analysis. new jersy: Pearson Education LTD.
[8]	Cameron C. and Trivedi K. (2005). Microeconometrics Methodes and Applocations. new york: Cambridge University Press.
[9]	Himayatullah K. (2006). Willingness to Pay for Margalla Hills National Park: Evidence from the Travel Cost Method. The Labore Journal of Economics.
[10]	Willis G. and Garrod G. (1991) in individual travel-cost method of evaluating forest recreation journal of agricultural economics.

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APA Style

Yrgalem Desta, Mekonnen Bersisa. (2019). Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. International Journal of Economy, Energy and Environment, 4(3), 56-62. https://doi.org/10.11648/j.ijeee.20190403.12

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ACS Style

Yrgalem Desta; Mekonnen Bersisa. Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. Int. J. Econ. Energy Environ. 2019, 4(3), 56-62. doi: 10.11648/j.ijeee.20190403.12

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AMA Style

Yrgalem Desta, Mekonnen Bersisa. Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. Int J Econ Energy Environ. 2019;4(3):56-62. doi: 10.11648/j.ijeee.20190403.12

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@article{10.11648/j.ijeee.20190403.12,
  author = {Yrgalem Desta and Mekonnen Bersisa},
  title = {Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway},
  journal = {International Journal of Economy, Energy and Environment},
  volume = {4},
  number = {3},
  pages = {56-62},
  doi = {10.11648/j.ijeee.20190403.12},
  url = {https://doi.org/10.11648/j.ijeee.20190403.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijeee.20190403.12},
  abstract = {Lake Ziway is one of the largest fresh water Rift Valley Lakes of the Ethiopia; the Lake holds the intrinsic value and aesthetic quality of a wetland, including its functions like shelter for a diversity of plants, aquatic birds and fishes and it is also home of different monastery. This beautiful nature of the lake attracts many visitors. However, despite the many sources of attractions, because the public goods nature of the lake its demand and value in terms of its recreation service to society is not known, which makes deficit to sustain and expand the recreational service of the lake. For this reason this study analyzed the recreational value of Lake and its demand using an individual travel cost method (ITCM) based on face-to-face interview with 223 randomly selected local visitors of the Lake. The truncated Poisson model was used in the empirical analysis to estimate the recreational value of the lake and to identify its determinants. The econometric result of this model shows visitor’s martial statues, family size, and mode of transportation, type of visit, distance and travel cost are significant factors that affects the visitation rate for recreational site. And the study estimates that the on-site recreational benefits per visit per person was about 3353.64 per year and the expected total annual on-site recreational benefit of the site is 118,698,734.16 birr.},
 year = {2019}
}

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TY  - JOUR
T1  - Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway
AU  - Yrgalem Desta
AU  - Mekonnen Bersisa
Y1  - 2019/08/05
PY  - 2019
N1  - https://doi.org/10.11648/j.ijeee.20190403.12
DO  - 10.11648/j.ijeee.20190403.12
T2  - International Journal of Economy, Energy and Environment
JF  - International Journal of Economy, Energy and Environment
JO  - International Journal of Economy, Energy and Environment
SP  - 56
EP  - 62
PB  - Science Publishing Group
SN  - 2575-5021
UR  - https://doi.org/10.11648/j.ijeee.20190403.12
AB  - Lake Ziway is one of the largest fresh water Rift Valley Lakes of the Ethiopia; the Lake holds the intrinsic value and aesthetic quality of a wetland, including its functions like shelter for a diversity of plants, aquatic birds and fishes and it is also home of different monastery. This beautiful nature of the lake attracts many visitors. However, despite the many sources of attractions, because the public goods nature of the lake its demand and value in terms of its recreation service to society is not known, which makes deficit to sustain and expand the recreational service of the lake. For this reason this study analyzed the recreational value of Lake and its demand using an individual travel cost method (ITCM) based on face-to-face interview with 223 randomly selected local visitors of the Lake. The truncated Poisson model was used in the empirical analysis to estimate the recreational value of the lake and to identify its determinants. The econometric result of this model shows visitor’s martial statues, family size, and mode of transportation, type of visit, distance and travel cost are significant factors that affects the visitation rate for recreational site. And the study estimates that the on-site recreational benefits per visit per person was about 3353.64 per year and the expected total annual on-site recreational benefit of the site is 118,698,734.16 birr.
VL  - 4
IS  - 3
ER  -

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Author Information

Yrgalem Desta

Department of Economics, Faculty of Business and Economics, Raya University, Maichew, Ethiopia
Mekonnen Bersisa

Department of Economics, Faculty of Business and Economics, Addis Abeba University, Addis Abeba, Ethiopia

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APA Style

Yrgalem Desta, Mekonnen Bersisa. (2019). Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. International Journal of Economy, Energy and Environment, 4(3), 56-62. https://doi.org/10.11648/j.ijeee.20190403.12

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ACS Style

Yrgalem Desta; Mekonnen Bersisa. Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. Int. J. Econ. Energy Environ. 2019, 4(3), 56-62. doi: 10.11648/j.ijeee.20190403.12

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AMA Style

Yrgalem Desta, Mekonnen Bersisa. Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway. Int J Econ Energy Environ. 2019;4(3):56-62. doi: 10.11648/j.ijeee.20190403.12

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@article{10.11648/j.ijeee.20190403.12,
  author = {Yrgalem Desta and Mekonnen Bersisa},
  title = {Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway},
  journal = {International Journal of Economy, Energy and Environment},
  volume = {4},
  number = {3},
  pages = {56-62},
  doi = {10.11648/j.ijeee.20190403.12},
  url = {https://doi.org/10.11648/j.ijeee.20190403.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijeee.20190403.12},
  abstract = {Lake Ziway is one of the largest fresh water Rift Valley Lakes of the Ethiopia; the Lake holds the intrinsic value and aesthetic quality of a wetland, including its functions like shelter for a diversity of plants, aquatic birds and fishes and it is also home of different monastery. This beautiful nature of the lake attracts many visitors. However, despite the many sources of attractions, because the public goods nature of the lake its demand and value in terms of its recreation service to society is not known, which makes deficit to sustain and expand the recreational service of the lake. For this reason this study analyzed the recreational value of Lake and its demand using an individual travel cost method (ITCM) based on face-to-face interview with 223 randomly selected local visitors of the Lake. The truncated Poisson model was used in the empirical analysis to estimate the recreational value of the lake and to identify its determinants. The econometric result of this model shows visitor’s martial statues, family size, and mode of transportation, type of visit, distance and travel cost are significant factors that affects the visitation rate for recreational site. And the study estimates that the on-site recreational benefits per visit per person was about 3353.64 per year and the expected total annual on-site recreational benefit of the site is 118,698,734.16 birr.},
 year = {2019}
}

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TY  - JOUR
T1  - Recreational Use Value of Lakes an Application of Travel Cost Method: A Case of Lake Ziway
AU  - Yrgalem Desta
AU  - Mekonnen Bersisa
Y1  - 2019/08/05
PY  - 2019
N1  - https://doi.org/10.11648/j.ijeee.20190403.12
DO  - 10.11648/j.ijeee.20190403.12
T2  - International Journal of Economy, Energy and Environment
JF  - International Journal of Economy, Energy and Environment
JO  - International Journal of Economy, Energy and Environment
SP  - 56
EP  - 62
PB  - Science Publishing Group
SN  - 2575-5021
UR  - https://doi.org/10.11648/j.ijeee.20190403.12
AB  - Lake Ziway is one of the largest fresh water Rift Valley Lakes of the Ethiopia; the Lake holds the intrinsic value and aesthetic quality of a wetland, including its functions like shelter for a diversity of plants, aquatic birds and fishes and it is also home of different monastery. This beautiful nature of the lake attracts many visitors. However, despite the many sources of attractions, because the public goods nature of the lake its demand and value in terms of its recreation service to society is not known, which makes deficit to sustain and expand the recreational service of the lake. For this reason this study analyzed the recreational value of Lake and its demand using an individual travel cost method (ITCM) based on face-to-face interview with 223 randomly selected local visitors of the Lake. The truncated Poisson model was used in the empirical analysis to estimate the recreational value of the lake and to identify its determinants. The econometric result of this model shows visitor’s martial statues, family size, and mode of transportation, type of visit, distance and travel cost are significant factors that affects the visitation rate for recreational site. And the study estimates that the on-site recreational benefits per visit per person was about 3353.64 per year and the expected total annual on-site recreational benefit of the site is 118,698,734.16 birr.
VL  - 4
IS  - 3
ER  -

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