AN ECONOMIC VALUATION OF REDANG ISLAND

Simple item page
dc.contributor.authorSURIYANI MUHAMAD
dc.contributor.authorNURAZURA SANUSI
dc.contributor.authorNIK FUAD NIK MOHD KAMIL
dc.date.accessioned2017-10-04T04:04:09Z
dc.date.available2017-10-04T04:04:09Z
dc.date.issued2012
dc.description.abstractIn Malaysia, the demand for island-based recreation is increasing rapidly, especially among foreign tourists. This study attempts to capture the non-market value of services provided by the ecosystem as a basis for arguing that island and beach resources in Malaysia are undervalued. Consequently, they are not considered seriously in decisions affecting resource use and allocation. This study estimates the economic value of Redang Island, using an environmental valuation technique - the Travel Cost Method (TCM). The recreational service flows of Redang Island, a popular destination located in the state ofTerengganu, were estimated through the consumer surplus generated by the visitors during May and June, 2010. Annual consumer surplus per individual was estimated as USD747 (RM2,286) while annual total benefit was USD57.89 mil (RM177.24 mil). The relatively high value of recreation suggests that the recreational functions ofbeaches ought to be seriously considered in decisions affecting the allocation and use ofsuch resources. Valuation of natural resources would therefore lead to better resource-management decisions in Malaysia.en_US
dc.identifier.issn18238556
dc.identifier.urihttp://hdl.handle.net/123456789/6992
dc.language.isoenen_US
dc.publisherJournal of Sustainability Science and Managementen_US
dc.subjectEconomic valuationen_US
dc.subjectTravel Cost Methoden_US
dc.subjectConsumer surplusen_US
dc.subjectAnnual net benefit JEL Classification: Q26en_US
dc.subjectQ51en_US
dc.titleAN ECONOMIC VALUATION OF REDANG ISLANDen_US
dc.title.alternativeTOWARDS SUSTAINABLE TOURISM IN SMALL ISLANDSen_US
dc.typeArticleen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
12-An-Economic-Valuation.pdf
Size:
8.02 MB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections