ANNOUNCEMENTS
This study explores visitors' willingness to pay (WTP) for the preservation of Naini Lake and the vicinity of Mall Road in Nainital, a well-known Indian tourism destination. This study evaluates the economic value that tourists place on preserving the environmental health of this famous lake using the Contingent Valuation Method (CVM). A structured questionnaire was used to gather information from a sample of visitors at Naini Lake and Mall Road. The questionnaire focused on the visitors' socioeconomic traits, the frequency and purpose of their visits, and their willingness to pay for different conservation scenarios.
According to the study, a sizable percentage of visitors are willing to make a financial contribution to support the preservation of Naini Lake, demonstrating how important they think environmental sustainability is. Environmental concerns, perceived traffic congestion, and gender are important determinants of WTP. The results show that visitors are aware of how tourism contributes to environmental deterioration and are willing to support policies that lessen these consequences.
An optional environmental tax, improved waste management systems, and enhanced public awareness campaigns regarding the environmental effects of tourism are some of the policy ideas. The study also notes certain limitations that could have an impact on how broadly the findings can be applied, such as the use of convenience sampling and reliance on self-reported data.
All things considered, this study highlights the possibility of using visitor contributions to leverage funding for conservation initiatives, guaranteeing the long-term viability of Naini Lake and improving the entire visitor experience. Subsequent investigations ought to focus on resolving the highlighted constraints and investigating supplementary financing streams for conservation campaigns.
