ANNOUNCEMENTS
The valuation of recreational sites has traditionally been seen as an important exercise in economics so as to guide policymakers to ensure the protection of such sites. This study aims to find the use value associated with the recreational facilities offered at Khaliya Top, Munsyari using the travel cost method. The site in question is situated in a “risky” location, within Pithoragarh district of Uttarakhand. The area is prone to natural disasters and adverse weather events. This study also aims to see whether this risk has an impact on the use value associated with the study site by the inclusion of appropriate risk attitude and risk perception variables in the analysis. The results of the individual travel cost method show a statistically significant travel cost variable and a statistically significant risk attitude variable at 5% and 10% levels. The consumer surplus for Khaliya Top is found to be ₹1261.03 per person per visit. It is found that controlling for the risk attitude variable leads to an increase in the consumer surplus by ₹250.25.
Keywords- Travel Cost Method, Recreation, Risk, Munsyari.
