Assessing Economic Value of a Cultural Heritage Site Using Travel Cost Method

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Published: Mar 25, 2023
DOI: https://doi.org/10.18196/jerss.v7i1.17660
Keywords:
Heritage Site, Economic Valuation, Travel Cost Method, Sonobudoyo Museum

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Annisa Zahrah Pramono
Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Special Region of Yogyakarta
Endah Saptutyningsih
Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Special Region of Yogyakarta

Abstract

This study aims to calculate the economic value and analyze the effect of independent variables (travel costs, age, education, income, satisfaction, residence, time spent, and facility) on the number of tourists visits to Sonobudoyo Museum of Yogyakarta, Indonesia. This study uses primary data with a total of 257 tourist. The calculation of economic value is carried out using the Travel Cost Method approach to to Sonobudoyo Museum tourist objects in Yogyakarta. Analyzer in this research is multiple linear regression. The results of this study indicate that variable travel cost, income, satisfaction, and time spent has a significant effect while the other variable such as age, education, residence, and facility have no effect on the number of tourists visit to Sonobudoyo Museum. It is also known that the economic value of Sonobudoyo Museum is IDR 5,461,932,433 per year.

Article Details

How to Cite
Pramono, A. Z., & Saptutyningsih, E. (2023). Assessing Economic Value of a Cultural Heritage Site Using Travel Cost Method. Journal of Economics Research and Social Sciences, 7(1), 98–115. https://doi.org/10.18196/jerss.v7i1.17660
Issue
Vol. 7 No. 1: February 2023
Section
Articles

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