ANNOUNCEMENTS
This research computes the value of cultural and recreational services at Damdama Lake, the biggest natural lake in Haryana, India. Several environmental risks faced by the lake include reduced water levels, risks due to urban development as well as overall degradation which ultimately threatens its importance as an ecological and cultural resource. In light of this, the study seeks to conduct a thorough economic assessment of the cultural and recreational services provided by the lake to inform conservation strategies. Results show a strong desire from the public to protect Damdama Lake, as visitors are willing to contribute financially towards conservation efforts. The mean willingness to pay as a per person entry fee along with information on travel expenses, highlights the significant economic importance of the lake. These findings emphasize the possibility of using sustainable tourism and conservation funding methods, like entry fees and partnerships between the public and private sectors, to help manage the lake in the long run.
The research utilizes both the Contingent Valuation Method (CVM) and the Travel Cost Method (TCM) to gain a comprehensive understanding of the lake’s worth. Using Primary survey, data was gathered via CVM to assess visitor’s willingness to pay as a per person entry fee for restoration and conservation endeavors. TCM was utilized to examine travel behaviors and expenses borne by tourists, offering insights into the recreational potential of the lake. This thesis highlights the need to combine ecological conservation with sustainable economic methods. Recommendations for action involve adopting conservation measures that are well-balanced, prioritizing environmental sustainability and supporting socio-economic growth, to benefit both tourists and local residents.
