The Contingent Valuation Method Applied to the Mining Heritage of Extremadura (Spain)

Abstract

In this study, the contingent valuation method is used to appraise the value and market potential of mining heritage, serving as a means to evaluate these heritage assets for the society, for the purposes of entertainment, culture or recreation. The method has been applied to the specific case of the region of Extremadura (Spain), an area with a prevalent mining tradition that dates back to prehistoric times, boasting countless mining-related remains of recognised value. Among those vestiges, 20 enclaves were selected for use in this study following research carried out by the Institute of Geology and Mining in Spain. A survey has been used to estimate the public willingness to pay for the conservation, restoration and protection of mining heritage assets that could be visited by both local people and others. Three payment values (7, 13 and 20 euros) were established to classify respondents’ responses and thus estimate the degree of interest expressed in currency units, which were shown by the mining heritage of Extremadura as a possible destination for a tourist trip. While a high percentage (43%) of respondents did not know what the mining heritage is, after the introduction to the survey included in the surveys, it is concluded that most would be willing to pay an amount to visit it. The results reveal a market potential of more than €130 million without bearing in mind the indirect value generated by these resources, underscoring the high value that society attaches to these mining remains.