Estimating the preservation value of Wolong National Nature Reserve in China: Applying the two-stage contingent valuation method

A new economic valuation of Wolong National Nature Reserve, part of the Sichuan Giant Panda Sanctuaries UNESCO World Heritage Site, estimates that each resident of China's Sichuan province would pay an average of 297.21 yuan (≈56,809 KRW) annually to preserve this critical panda habitat under hypothetical conditions, rising to a total estimated value of approximately 4.5 trillion KRW for the entire provincial population. This finding, derived from a two-stage contingent valuation method combining discrete-choice and logit models, highlights significant public willingness-to-pay (WTP) influenced by factors such as income, education, conservation interest, and environmental preference. The study provides actionable insights for sustainable ecotourism management in China's panda sanctuaries.

Li, X., Xiao, G., & Lee, C.-K. (2023). Estimating the preservation value of Wolong National Nature Reserve in China: Applying the two-stage contingent valuation method. International Journal of Tourism and Hospitality Research, 37(1), 21–32. https://doi.org/10.21298/ijthr.2023.1.37.1.21