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Economic Assessment of Touristic Resources- Case Study: National Recreation Area Santay Island (NRASI)

Abstract:

The paper aims to economically value the tourist resources in the National Recreation Area Santay Island (NRASI) to use them as a sustainable development tool. Economic valuation allows taking advantage of the benefits derived from current ecosystem services and helping future generations solve environmental, economic, and social problems. We estimated the value of NRASI by the Contingent valuation method (CVM), which involves asking people for their willingness to pay (WTP) on a specific scenario. Additionally, the data were analyzed using multiple regression.