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Estimating the Total Economic Value of La Pointe des Châteaux,Guadeloupe: A Contingent Valuation Approach by Nlandu Mamingi, Alain Maurin and Jean-Gabriel Montauban.

  • Central Bank Of Barbados
  • 17 Jan,2018
  • 23
  • Working Papers,
  • Print

Tourism dynamism is an important indicator of the economic health of most Caribbean economies. Not surprisingly, the promotion of activities that qualitatively and quantitatively boost tourism is always welcome in those countries. Against this backdrop, this study attempts to derive the total economic value of La Pointe des Châteaux, the most important tourism site of Guadeloupe. The study uses the contingent valuation approach to obtain in the first instance the use and non-use values of the site. The study utilizes statistical and econometric methods or models such as descriptive statistics, Turnbull estimation and probit models to obtain the mean values necessary to derive the total economic value of the site. The study reveals that the undiscounted total economic value of La Pointe des Châteaux would easily vary from 4,858,000.00 euros to 6,250,000.00 euros per year. The study also indicates that the entrance fee would be about 6.00 euros per individual per visit and the individual’s yearly contribution to a fund geared towards the preservation and improvement of the site would amount to 26.00 euros. These findings mean that the possibility of developing, managing and preserving the site is real. This is indeed the task that the local authority of the site should focus on, particularly in the context of sustainable development.

Estimating the Total Economic Value of La Pointe des Châteaux, Guadeloupe_A Contingent Valuation Approach by Nlandu Mamingi, Alain Maurin and Jean-Gabriel Monta