Applied Economics Journal

Applied Economics Journal

ISSN 0858-9291

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  • AEJ highlights the applications of concepts and theories to issues in micro- and macroeconomics
  • Double-blind peer review
  • Two issues a year (Jun, Dec)
  • Open access to all full-text content

Vol. 16 No. 2
Vol. 16 No. 2
Determining the Entrance Fee for Ayutthaya Historical Park (in Thai)

Chatchon Kamonrattanapon and Udomsak Seenprachawong

This study determines the entrance fee for Ayutthaya historical park using the contingent valuation method (CVM) to estimate the foreign touristsí willingness to pay (WTP) for restoration and management projects. The questionnaires used were single-bounded dichotomous choice and open-ended questions. The results show that the bid amount was a significant predictor of WTP. The open-ended questions show that the age and income were significant predictors. The two types of questions produced similar WTP, which are higher than the current entrance fee. The mean WTP was 143.94 baht/person/trip from the dichotomous choice and 150.86 baht/person/trip from the open-ended questions. The current entrance fee is only 50 baht/person/trip for foreign tourists. The study suggests an entrance fee of 150 baht/person/trip.

Keywords:   contingent valuation method, willingness to pay, entrance fee, cultural heritage

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Faculty of Economics Kasetsart University :  Center for Applied Economic Research (CAER) :  Other Journals :  Thai-Journal Citation Index Centre (TCI) (TCI)

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Kasersart University Journal of Economics
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