Madhumini, T. R. P.1 and Jayaweera, R.2
1,2Department of Economics, Faculty of Social Sciences, University of Kelaniya, Sri Lanka
trpma211@kln.ac.lk1, roshinij@kln.ac.lk2
DOI : 10.57075/jaf1012304
ABSTRACT
Sri Lanka is a developing country that employs tourism as a development tool. Natural resources in tourism centres are often not priced in the market, and underpricing may underestimate their value. Therefore, value estimation of natural resource-based tourist centres is vital to compare the benefits and costs associated with an ecosystem or natural resource. The main objective of this study is to assess the recreational value of Pinnawala Elephant Orphanage in Sri Lanka. This study used the tourism expenditure method based on data from 40 local tourists who visited the elephant orphanage in 2020. The estimated average consumer surplus was around LKR 33891, and the entertainment value was around LKR 2 billion. Therefore, Pinnawala Elephant Orphanage has a significant recreational value that helps attract more foreign exchange with required improvements in the centre.
Keywords: Pinnawala Elephant Orphanage, Travel Cost Method, Recreational Value, Consumer Surplus, Tourism Centers
