Economic Valuation of Owabong Water Park in Purbalingga Regency

Abstract

The research aims to assess willingness to pay (WTP) of visitors to the Owabong water park in Bojongsari District, Purbalingga Regency. It is a mix method research where the primary data were obtained from 96 respondents using incidental sampling technique and completed by 3 key persons trough purposive sampling. By using Contingent Valuation Method (CVM), the WTP of Owabong visitors shows an average value of IDR30,000. Comparing to the WTP, the ticket price is IDR25,000 per person on weekdays and IDR35,000 on weekends. Therefore, there would be an opportunity to raise the ticket price, from IDR25,000 to IDR30,000 on weekdays while it would be better to hold at IDR35,000 on weekends. This suggestion should of course consider other factors attracting the visitors to Owabong.

Keywords: Willingness to pay, contingent valuation method, Owabong, ticket price