Tourists’ travel time values using discrete choice models: the recreational value of the Teide National Park

Research reveals that the recreational value of Teide National Park, when calculated using discrete choice models independent of labor market factors, significantly differs from traditional wage-based approaches. By analyzing trade-offs between time and money in transport mode choices among 801 visitors, the study estimates distinct travel time values for different stages of the trip and transport modes. This novel method, combining Mixed Logit models with Zonal Travel Cost Method, challenges conventional practices by focusing on the opportunity cost of leisure rather than work time, offering a more accurate assessment of recreational value.

González, R. M., Marrero, Á. S., & Navarro-Ibáñez, M. (2018). Tourists’ travel time values using discrete choice models: the recreational value of the Teide National Park. Journal of Sustainable Tourism, 26(12), 2021–2042. https://doi.org/10.1080/09669582.2018.1527342