Measuring Economic Values of Natural Resources using Extent of Market based on Potential User Groups: Cases of 4 Provincial Parks in Chon Buk

COVID-19 led to an increased need for mountainous urban parks in the city that can be enjoyed while moving rather than staying put. However, studies on the economic value of mountainous urban parks have been insufficient. As a result, this study investigates the economic value of Gyeyangsan, a mountainous urban park located in the city, by quantifying the value of natural resources provided to residents and analyzing the factors affecting these values. The results are summarized below. First, according to the economic value assessment of Gyeyangsan, the use value was 2,210 won per person or 4.42 billion won per year, and the preservation value was 6,182 won per household, or 129.37 billion won. Gyeyangsan's total assets value was assessed as 3.68 trillion won. Second, according to the estimates of the willingness to pay and the determinants for the use-value, the frequency of visits, age, and use satisfaction significantly impacted the intention to pay for the use-value. Third, according to the estimates of the willingness to pay and the determinants for the preservation value, the intention to revisit, volunteer participation, educational level, gender, and residence significantly influenced the intention to pay for the preservation value. According to the findings of this study, it will be possible to make crucial policy implications when setting a direction for future park management by presenting a practical policy plan for the maintenance of mountain parks in downtown areas and will broaden the scope of research.

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Measuring Economic Values of Natural Resources using Extent of Market based on Potential User Groups: Cases of 4 Provincial Parks in Chon Buk

Cited by 2 publications

References 6 publications

Evaluation on Park Planning of Provincial Parks among Korea Natural Parks

Evaluation on Park Planning of Provincial Parks among Korea Natural Parks

Economic Value of Mountainous Urban Park Based on Contingent Valuation Methods† - Case of Gyeyangsan in Incheon -

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