Appreciation of economic value of natural resources for recreational purposes: a case study on Pamukkale Natural Preservation Area

It is assumed that administrations would tend to take further initiatives to preserve natural resources when they realize they do not only have worth for commercial uses but also they have various economic values for different uses. Accordingly it is considered that conducting studies on appreciation of their economic values in parallel with legislative efforts would lay solid foundation for the administrative decisions. The present study aims to appreciate the economic value that might be added in case the Pamukkale Natural Preservation Area is used for recreational purposes. A survey study was conducted on totally 584 visitors who checked in Pamukkale Preservation Area in the period of June 2016 - June 2017. In the Individual travel cost method, poisson regression and negative binomial regression analysis were employed; total consumer surplus values were estimated as 33 Billion (33.552.951.239 ₺) and 37 Billion (37.914.834.900 ₺), respectively. In the Regional travel cost method, multiple linear regression analysis was employed and total consumer surplus value was estimated as 71 Billion ₺ (71.149.199.305 ₺). In the Contingent valuation method, the logistic regression analysis was employed and total willingness to pay was estimated as 30 Billion ₺ (30.401.118.760 ₺). Recreational economic value of the Pamukkale Natural Preservation Area, included in the UNESCO World Heritage List, was estimated by both methods as about 30 Billion ₺ and 71 Billion, respectively. Obtained results were compared with the earning reported by the Pamukkale Preservation Area Administration in the fiscal year of 2015. Finally, estimated economic values were about 1,778 times greater than the annual gross income. KEYWORDS: Use Value For Recreational Purposes, Travel Cost Method, Contingent Valuation Method, Consumer Surplus, Willingness to Pay.