This analysis showed
that the results were satisfactory. The coefficient for price (bid) is negative
as expected, at the value of -0.21001. It implies that the higher the bid
offered, the less the number of respondents who are willing to pay the bid. Furthermore, income was significant at 10% confidence
level, and positive coefficient sign. It implied that respondents with higher
income are more likely to pay the bid offered than the lower income
respondents. The income level of respondents is an important factor that
will affect to their WTP for the fee which was charged to them. Generally, more
income indicates that they would be willing to pay more for the entrance fee.
Previous studies by Hanim (1999), and Syakya (2004) have identified that income
affect visitors’ WTP.

 

The
result indicated that the mean WTP as entrance fee to PIW by the visitors was
RM 7.12. The expected benefits of conserving PIW resources can be estimated by
multiplying the mean WTP value with total visitors to PIW. As expected, total
benefits increases as long as the visitors’ number increases. The expected
benefits can be captured by the PIW management between 2008 and 2012 as
presented in Table 2. Finally, the aggregate expected benefit of ecotourism resources
in PIW was estimated approximately RM 1,431,533
during the last five years.

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5. Conclusions

This paper estimated
the economic value of conservation and recreation at Paya Indah Wetlands, using
DCCVM. With the increasing number of visitors yearly, the PIW management
requires a higher amount to protect and maintain the quality of wetlands
environment every year. The fact is that the expenses of PIW conservation and
management are supported by government with limited funds. The result of this
study indicated that visitors are willing to pay RM 7.12 as entrance fee per
person. Bid price and income were significant variables influencing the
Willingness to pay. The finding of study can assist the PIW management to
impose entrance fee on visitors in order to obtain an extra conservation
funding and reduce the currently faced financial constraint. At the same time,
the number of visitors could be control through the entrance fee, which would
help in reducing over-crowding and excessive exploitation of the wetland
resources use.