Economic Evaluation of Ewanrigg Botanical Gardens in Zimbabwe Using an Individual Travel Cost Approach

Abstract

Economists face an environmental goods and services valuation dilemma as natural resources are considered to be common pool resources with no markets. If markets exist they are mostly imperfect which results in undervaluation or overvaluation of natural resources. This study estimated the imputed recreational use value of Ewanrigg Botanical Gardens in Zimbabwe from 2015‑2017 using the Individual Travel Cost Method (ITC) which elicits the consumer surplus and deduces an optimum entry fee. It investigated key socioeconomic factors which influence visits to Ewanrigg Botanical Gardens. A questionnaire survey was conducted on 54 visitors to Ewanrigg Botanical Gardens during the period of the research to solicit for primary data. The primary data were analysed using the Ordinary Least Squares model to obtain a predictive model of visits to Ewanrigg Botanical Gardens. Using the ITC Method the total consumer surplus which equates to the recreational use value of Ewanrigg Botanical Gardens was USD19 142.16/peak period/year. Travel costs, income and employment status were the major factors driving visitation rates to Ewanrigg Botanical Gardens at an optimum entry fee of USD7.81. To maximise profits for self-sustenance of Ewanrigg Botanical Gardens, the Zimbabwe Parks and Wildlife Authority should concentrate on marketing efforts to individuals of higher income and solid employment status and those proximal to the botanical gardens as these incur less travel costs and can afford entry fees. For posterity, the use of ITC Method to ascertain economic value allows for the true valuation of natural resources and is justifiable for the allocation of funds by central government for the management and maintenance of artificial heritage sites such as Ewanrigg Botanical Gardens in developing African countries.