Determining tourists' valuation of the Big Five

Thesis (MCom (Economics))--North-West University, Potchefstroom Campus, 2013.The aim of this study is to determine the value of the Big 5 from a visitor’s perspective. This study will focus on determining the stated preference or contingent value (CV) of the Big 5 through a survey of tourists’, visiting the Kruger National Park, willingness to pay (WTP) for the conservation. The CV method is based on the principle of stated preferences, since participants are asked to state how much they are willing to pay for specific goods or services. Literature indicates that there is a relationship between education, income, professional standing, marital status, age, characteristics of visit, number of children and nationality and a tourist’s willingness to pay. By estimating the effect these variables have on a tourist’s willingness to pay will assist parks and private game reserves in future decisions concerning the conservation of wildlife. Additionally this information is also invaluable for marketing as well as pricing purposes since it gives a specific monetary value. The study found that visitors to the Kruger National Park (KNP) assigned a significant amount (34.64%) of total average spending to experience the Big 5. The value per species also differed. The main determinants of visitors’ willingness-to-pay for simply viewing the Big 5 include age, the marital status and the role of the Big 5 during decision to visit the KNP. Noticeable differences between international literature and this research are the determinants like education, income, age and country of residence.Master