Determination of Willingness to Pay for Entrance fee to National Park: An Empirical Investigation

Abstract

This paper examine the determinants of willingness to pay (WTP) of Bhitarakanika National Park (BNP), Odisha in India. Primary data has been collected from the visitors through survey method. We used multiple regression model to determine the WTP for entrance fee at BNP. The estimated results concluded that, income, age, day spent, marital status and travel cost have positively significant relationship with WTP whereas, gender is negatively affecting to WTP. From the policy perspective, we are suggesting to raise the entrance fee from Rs.20 to Rs. 40 which can raise the park revenue of BNP.