Economic value estimation of the natural heritage of the Tatra National Park

Abstract

The aim of the study is to determine the economic value of the Tatra National Park. The willingness to pay approximation was used. Additionally, a questionnaire survey was applied in order to collect data. It contained a hypothetical event, and respondents expressed their willingness to pay an annual entry fee to the Tatra National Park in exchange for a guarantee of stopping the interference to its integrity. The total number of respondents was 921. The results show that the income level has a positive impact on respondents' willingness to pay for entry to the Tatra National Park. With the increase of fee, the willingness to pay for entry to the Tatra National Park decreased by 2.2% for every additional price increase. The resulting value of the Tatra National Park, with the limits of the presented research mentioned in the paper, is approximately 17.5 million €. © 2020 by the authors. Licensee MDPI, Basel, Switzerland.