Willingness to pay for an entrance fee: A case of MARDI Agro Technology Park, Langkawi
This study assesses the Willingness to pay (WTP) for an entrance fee in MARDI Agro Technology Park, Langkawi. The main objective 1) to identify the demographic characteristics of respondent’ to MARDI Agro Technology Park, 2) to estimate WTP for additional facility namely Health and Spa Centre throug...
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| Format: | Thesis |
| Language: | eng eng |
| Published: |
2014
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| Subjects: | |
| Online Access: | https://etd.uum.edu.my/4068/1/s814269.pdf https://etd.uum.edu.my/4068/2/s814269_abstract.pdf |
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| Summary: | This study assesses the Willingness to pay (WTP) for an entrance fee in MARDI Agro Technology Park, Langkawi. The main objective 1) to identify the demographic characteristics of respondent’ to MARDI Agro Technology Park, 2) to estimate WTP for additional facility namely Health and Spa Centre through entrance fee, 3) to assess the differences of WTP between local and foreign visitors, 4) to identify the level of visitors’ satisfaction that come to MARDI Agro Technology Park. The data were collected through questionnaire among local and foreign visitors (n = 100) separately. Contingent Valuation Method (CVM) technique was used to determine willingness to pay where the Single Dichotomous Choice Method was used to analyze data. The results of the CVM approach reveal that 59% of the foreign respondents and 56% of the local respondents were willing to pay for additional facility namely Health and Spa Centre. The bid amount and income were a common factor which influenced the Willingness to Pay of both local and foreign respondents. The researchers estimate the mean of WTP for local and foreign visitors are which additional for entrance fee is RM6.35 and RM7.20. Finally, the study yields several recommendations for development and improvement of available facilities and service those involved in MARDI Agro Technology Park. The study also proves that an increment of budget outlays for construction Health and Spa Centre is feasible while providing forums to communicate with regulatory bodies to maximize the revenue and visitor attraction in future generation |
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