Estimating the Recreational Value of Chitgar Forest Park Using Contingent Valuation Method

Abstract

The objective of this study was to estimate the recreational value of Chitgar Forest Park and the willingness to pay (WTP) of visitors to this park using the contingent valuation method (CVM). The questionnaire was used for data collection. The Cochran formula was applied to determine the required sample size for the survey. The random sampling method was used to survey. The double-bounded dichotomous choice approach was used to design the questionnaire. A logit regression model was used to estimate the relationship between WTP and explanatory variables. The results of the logit model showed that WTP had a significant negative relationship with the explanatory variables such as the respondent's age, household size, education level, and membership in non‐governmental organizations (NGOs). In addition, results indicated that WTP had a positive relationship with respondents' gender, marital status, and monthly household revenue as the explanatory variables. Results showed that the maximum expected WTP of visitors was 79630 IRRials. Further, results showed that the total annual economic value of the recreation in Chitgar Forest Park was 38.9 billion IRRials. The results of this study can help decision-makers to enhance the quality of Chitgar Forest Park, develop tourism, increase the number of visitors, and generate revenue for the park.