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Economic Valuation of Cultural Heritage: Application of Travel Cost Method to the National Museum and Research Center of Altamira


Abstract: The economic assessment of non-marketed resources (i.e., cultural heritage) can be developed with stated or revealed preference methods. Travel cost method (TCM) is based on the demand theory and assumes that the demand for a recreational site is inversely related to the travel costs that a certain visitor must face to enjoy it. Its application requires data about the tourist?s origin. This work aims to analyze the economic value of the National Museum and Research Center of Altamira, which was created to research, conserve, and broadcast the Cave of Altamira (UNESCO World Heritage Site since 1985). It includes an accurate replica known as the ?Neocave?. Two different TCM approaches have been applied to obtain the demand curve of the museum, which is a powerful tool that helps to assess past and future investments. It has also provided the annual economic value estimate of the National Museum and Research Center of Altamira, which varies between 4.75 and 8.00 million € per yea



Otras publicaciones de la misma revista o congreso con autores/as de la Universidad de Cantabria

 Fuente: Sustainability 2018, 10(7), 2550

Editorial: MDPI

 Fecha de publicación: 01/07/2018

Nº de páginas: 13

Tipo de publicación: Artículo de Revista

DOI: 10.3390/su10072550

ISSN: 2071-1050

Url de la publicación: doi.org/10.3390/su10072550