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| REVIEW ON ECONOMIC VALUATION OF OUTDOOR RECREATION IN TOURISM AREAS |
| LIU Min1,2, CHEN Tian2, LIU Ai-li2 |
1. Convention and Exhibition Research Institute of Beijing Union University, Beijing 100025, China;
2. Institute of Geographic Sciences And Natural Resources Research, Beijing 100101, China |
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Abstract In the last fifty years, economic valuation of outdoor recreation of destinations has been given increasing attention. It plays a great role in the management decision-making for reserves and scenic spots. However, the economic valuation of outdoor recreation has introduced into China only for few years. Due to the lack of a complete principle framework, the related studies in China are inevitably confronted with many issues. It's helpful to identify the meaning of recreational valuation, Choose suitable approaches to apply and carry out researches with high efficiency if the related researches on them both home and abroad are reviewed and understood objectively. By using comprehensive analysis and comparison, the author draws three conclusions: 1) These existing studies on recreation valuation mainly focus on the following aspects: total economic value of environmental resources, valuation of ecotourism development and policies, valuation of recreational activities and methodologies of valuation. Methods used frequently are EM (Expenditure Method), TCM(Travel Cost Method) and CVM( Contingent Valuation Method). Each of the three approaches has its strengths and weaknesses and particular application scope. EM and TCM can estimate use-value and adjust to developed scenic areas. CVM has become one of the most widely used non-market valuation techniques; and it can estimate total economic value, including non-use value. Valuation by CVM must be used carefully due to its flexibility. 2) Study on recreational value assessment in China appeared in 1980s. These valuations focus on economic valuation of outdoor recreation of forest, and methods used. The studies in China on economic valuation of outdoor recreation still lag behind of those overseas. More efforts should be devoted to the following aspects of recreational valuation research: the definition of research scope, the suitable selection and application of valuation approaches, and the examination of valuation results. Such researches could provide instructions and suggestions to the operation and management of scenic areas as well as the making of environmental policies. 3) In addition, there emerges a phenomenon that valuations of recreational value and running asset value mix together. In response to the mixture of recreational valuation and asset running valuation, this paper separates the two parties from each other in the following aspects: perspectives of valuation, objectives of valuation, value range, and essence of value. They shouldn't be mixed up. This paper considers the appraisal of running asset value belongs to the category of asset assessment. The findings would be of great help to set standards of economic valuation.
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Received: 04 December 2006
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2008, Vol. 23 
