Abstract
The proper valuation of non-market environ- mental commodities such as wildlife viewing has signifi- cant policy implications. We implemented the Travel Cost Method (TCM) to estimate the value of viewing threatened Eurasian griffon vulture Gyps fulvus by the public at Gamla Nature Reserve, northern Israel. We used the zonal TCM, where concentric zones were defined around the site such that the cost of travel from all points in a given zone was approximately constant. We generated a visit-distance function and used it, based on 143 questionnaires, to derive the demand function for the site from which a monetary value could be estimated. The potential annual benefit of Gamla was estimated to be NIS 5.5-6.0 million (USD 1.1-1.2 million). The annual
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