Valuing protected areas through contingent valuation : a case study of Chitwan National Park, Nepal

Nepal is identified by the United Nations as one of the world's least developed countries, yet the conservation of its protected areas is praised globally. Despite succes in some regions, sustainable funding sources are scarce and a lack of adequate funds can jeopardize conservation efforts. Using the contingent valuation method, this research assesses the potential to capture value from foreign tourists traveling in the country. Tourists were asked their willingness to pay for conservation and environmental efforts at Chitwan National Park, World Heritage Site, Nepal. The results show that 71.5% of those who responded were willing to pay more than the current entrance fee of $7 USD (sample mean $21.94 USD). This suggests that the current price of the park entrance fee could be increased with minimal negative results on tourist numbers and that management has the potential to capture the value tourists already hold for Chitwan National Park.