Economic valuation of an urban lake recreational park: Case of Taman Tasik Cempaka in Bandar Baru Bangi, Malaysia

Jamal Othman, Yaghoob Jafari

Research output: Contribution to journalArticle

Abstract

There is growing public support for an outdoor, nature-based urban park, which offers the local population a wide range of recreational services for an improved quality of life. This study estimates the economic value of recreational benefits for the case of a lake-based urban park known as Taman Tasik Cempaka (TTC) in Bandar Baru Bangi in Selangor, Malaysia. The Travel Cost Method (TCM) was used to generate the demand function for park visitation and the recreational benefits were estimated using the Poisson and Negative Binomial (NB) models. The net benefits of recreation per visitor were evaluated at MYR 6.2 per trip while the price elasticity of demand was highly inelastic at -0.48. The result provides support for the imposition of an entrance fee and the subsequent revenue collection may be used for park upkeep and conservation.

Original languageEnglish
Article number3023
JournalSustainability (Switzerland)
Volume11
Issue number11
DOIs
Publication statusPublished - 1 Jun 2019

Fingerprint

valuation
Malaysia
Lakes
Economics
lake
quality of life
economics
elasticity
price elasticity
demand
economic value
local population
public support
recreation
fee
Elasticity
Conservation
revenue
conservation
travel

Keywords

  • Environmental valuation
  • Malaysia
  • Travel cost method
  • Urban parks
  • Urban planning

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Cite this

Economic valuation of an urban lake recreational park : Case of Taman Tasik Cempaka in Bandar Baru Bangi, Malaysia. / Othman, Jamal; Jafari, Yaghoob.

In: Sustainability (Switzerland), Vol. 11, No. 11, 3023, 01.06.2019.

Research output: Contribution to journalArticle

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