Economic valuation and conservation of religious festivals in Ethiopia: Contingent valuation analysis
Wolkite University, Economics, Ethiopia
The study has presented an estimate of the economic valuation, socioeconomic benefit, and conservation of religious festivals in the Gurage zone. Logit model and contingent valuation methods were used. The analysis of data gathering from the nominated from four woredas is taken from 320 samples of households. The result of the logit model shows that household income, religion, household family size, household savings, household education, and bid price were highly significant at 5%. This indicates that the study is viable within the expected outcome, a particular method for economic valuations, and no market value of diverse festivals like Meskel and Arefa. The bid price of households, head of households, and dependency ratio had a negative sign and were significant variables at 5%. Logit model also estimated influential variables of households’ income were significant determinants of maximum willingness to pay for the economic value of the festivals. Finally, the mean willingness to pay of households was also estimated and expanded into the collective willingness to pay for the protection of the festivals. The mean of WTP obtained from the logit model and open-ended question of the household is birr 42.7927 on average. The monetary value of no economic use-value of the festivals was also estimated by the travel cost method through consumer surplus, directly and indirectly, obtained any programme that would be designed to announce and motivate the festivals like Bazar, and prepared a joint-community involvement for its successful implementation with the government. The policy recommendations which is provided by the researcher and participant by the government are as follows. The concerned body should increase different services that are provided for the travelers. This is because the economic benefit of the festival is so important. The concerned body should have expense a higher income to support the improvement and expansion of the types and quality of the festival celebrations. No one project and tourism centre or resort are present in the zone is a headache for households. Therefore, the government should replay, the household’s question and preserve Meskel and Arefa festivals, which are very important to the society Guraghe community.
Keywords: Contingent valuation method, economic valuation, Meskel and Arefa festivals, travel cost methods, willingness to pay
Contact Address: Amsalu Ayalew, Wolkite University, Economics, Guraghe, 07 Wolkite, Ethiopia, e-mail: amsalueco21gmail.com