Appraisal of coastal recreational resources in Qingdao by travel cost method

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.

Keywords

coastal recreational resources / travel cost method (TCM) / regression analysis / Qingdao / China