The Value of Cultural Heritage Sites in Armenia: Evidence From a Travel Cost Method Study

Abstract

This paper combines the travel cost method with contingent behaviour questions to
estimate domestic visitors’ use values for cultural heritage sites in Armenia, a transition
economy where conservation of cultural monuments is hampered by limited resources.

Respondents intercepted at four cultural monuments provided information on their
visitation patterns, experience at the site, perception of the state of conservation of the
monuments, and rating of the quality of the services and infrastructures. We combine
actual trips with stated trips under hypothetical programs that would enhance the
conservation of the monuments and improve one of (i) the cultural experience at the site,
(ii) the quality of the infrastructure, or (iii) the quality of the services, and use the
combined actual and stated trips to fit a panel data model.

Our study is one of the few applications of the travel cost method for valuing cultural
heritage sites. Our investigation shows that (i) there are significant use values associated
with the four study monuments, and (ii) conservation programs and initiatives that
improve the cultural experience, or simply make it easier for the respondent to reach and
spend time at the monument, are valued by domestic visitors and would encourage higher
visitation rates. Actual and intended trips reported by the respondents exhibit good
construct validity, in the sense that they are well predicted by price, location, hypothetical
scenario and other individual characteristics of the respondents.

KEYWORDS: valuation of cultural heritage sites, non-market valuation, travel cost,
consumer surplus, contingent behavior

JEL CLASSIFICATION: Z10

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