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Preserving historical sites is not only a matter of cultural heritage but also holds significant economic implications for local communities and tourism industries. This thesis delves into the assessment of Economic Valuation and tourists' perception regarding the preservation of historical sites in Lucknow renowned for their cultural richness dating back to the Nawabi era. Through the utilization of the Individual Travel Cost Method (ITCM) and components of the Contingent Valuation Method (CVM), this study aims to evaluate the historical and economic worth of historical sites in Lucknow.
The target population are domestic tourists visiting the historical sites of Lucknow and the calculated sample size is 204 tourists. The survey has been conducted based on the tourist’s visit to either of the prominent historical sites in Lucknow’s Chowk Area: Rumi Darwaza, Bada Imam Bara, Chota Imam Bara, Clock Tower and the Chowk Market. These are the major historical sites and prominent tourist attractions. Using ITCM, we explored the travel-related behaviours and preferences of the tourists about their current visit to the sites and the economic valuation. Through CVM the perceptions and willingness to pay of the tourists based on the implementation of a hypothetical Proposed Initiative in future is captured. Change in the number of visits of the tourists is calculated from the current visit to their visits based on the implementation of those hypothetical Proposed initiatives. It focuses on two conditions: When the quality of the site gets improved due to the implementation of the proposed initiative but the Travel Cost remains the same and when the quality of the site gets improved due to the implementation of the proposed initiative but the travel cost increases by 20 per cent.
The significance of this research lies in its potential to inform policymakers, heritage conservationists, and local authorities about the economic value attributed to the historical sites in Lucknow, Uttar Pradesh. Furthermore, understanding tourists’ attitudes towards restoration efforts can aid in designing strategies that not only safeguard cultural heritage but also enhance the tourism experience.
KEYWORDS: Historical Sites, Lucknow, Preservation, Heritage, Culture, Travel Cost Method, Contingent Valuation Method, Proposed initiative.
