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Appraisal of coastal recreational resources in
Qingdao by travel cost method |
| Jingmei LI , Tieying LIU , Yuanyuan ZHANG , Lei LI , |
| School of Economics,
Ocean University of China, Qingdao 266071, China; |
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Abstract This paper serves to appraise the monetary cost of coastal recreational resources in Qingdao using the travel cost method (TCM), which is typically used in developed countries. The total revenue produced by Qingdao’s coastal recreational resources is about RMB 5.51×1010 annually, based on questionnaires given at Qingdao’s major tourist destinations. These questionnaires establish correlation functions that factor in the number of tourists, travel expenses, etc. The data processing software named Eviews was used to determine the tourist demand regression curve and to calculate their residual and actual travel expenses. The results of this study can provide a scientific basis for applicable industries interested in development and management decision-making. Therefore, this study assesses the reasonable usage of coastal recreational resources.
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| Keywords
coastal recreational resources
travel cost method (TCM)
regression analysis
Qingdao
China
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Issue Date: 05 September 2009
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