Abstract
This study aims to estimate the economic benefits of the Bogor Botanical Gardens (BBG) in terms of willingness to pay (WTP) and, using the estimation, to make a scenario of the entrance fee. Data were collected through a survey among 414 local visitors using the travel cost method (TCM) and choice modeling method (CM). The result from the TCM reveals that travel cost, gender, and education significantly affect the number of visits to the BBG. The value of consumer surplus amounts to IDR 582,072 (USD 40.90) and the total value of benefits obtained is IDR 728.8 billion (USD 51.21 million) per year. Meanwhile, the CM result shows that compensating surplus is estimated at IDR 19,704 (USD 1.38) and the total value of benefits is IDR 24.67 billion (USD 1.73 million) per year. The CM shows that the attributes of service cars as well as information and environmental educational tools and infrastructure have positive and significant values to the visitors. Thus, there is a potential to increase the entrance fee for tourists to become IDR 20,629 (USD 1.45) per visit. Through the increase in entrance fee, the BBG could generate a potential revenue of IDR 25.83 billion (USD 1.81 million) per year, which can improve the number of plant species, information and environmental educational tools and infrastructures, and service cars inside the BBG.
Highlights
Botanical gardens have an important function in preserving biodiversity
This study aims to estimate the economic benefits of recreational services provided by Bogor Botanical Gardens (BBG) from the perspective of visitors
This study aims to estimate the economic benefits of BBG with both the travel cost method (TCM) and choice modeling method (CM)
Summary
Botanical gardens have an important function in preserving biodiversity. Botanical gardens, which are generally located in urban spaces, re-connect nature and humans and become a part of the urban ecosystem. This makes botanical gardens have various values— ecological and social, economic, and cultural values [1]. Unlike primary forests, botanical gardens are an effort to conserve biodiversity by man-made methods. They are designed for multiple purposes, such as education, research, recreation, and conservation. Botanical gardens have a very important role and a high value for nature and humans. As mentioned by [2], botanical gardens are defined as ‘institutions holding documented collections of living plants for purposes of scientific research, conservation, display, and education’
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
