Volume : IV, Issue : XI, November - 2015

Recreational Value of Vellayani lake in South India: A Travel Cost Approach

Aswathy Vijayan, Dr Elsamma Job

Abstract :

 Travel cost method (TCM) is a consumer oriented method used for estimating recreational values of natural resources. Vellayani lake is the only freshwater lake of Thiruvananthapuram district of Kerala state. Satellite imageries revealed that the lake has got an area of 243.39 ha in 2011. The serene picturesque beauty of the lake has attracted several people towards it. The lake is also part of religious and cultural functions. For empirical estimation of the Trip Generating Function of the Travel Cost Method poisson regression for count data was used. The sign and significance of travel cost variable (–0.0018) was consistent with economic theory. By finding the absolute value of reciprocal of travel cost coefficient, consumer surplus per visit was estimated as Rs. 555.55. The estimated total recreational value of the lake obtained by multiplying the total number of vistors by the consumer surplus per visit was Rs. 55.83 lakh per year

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Aswathy Vijayan, Dr Elsamma Job / Recreational Value of Vellayani lake in South India: A Travel Cost Approach / International Journal of Scientific Research, Vol : 4, Issue : 11 November 2015

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