Valuing cultural world heritage sites: an application of the travel cost method to Mont-Saint-Michel

A substantial economic value is attributed to recreational trips to Mont-Saint-Michel (MSM), France's most visited coastal UNESCO World Heritage Site, with consumer surplus estimates revealing significant benefits. The study highlights that ignoring multi-purpose/destination trips biases these valuations, while accounting for the opportunity cost of time does not significantly alter results. A random parameters Poisson model (RPPM) provides deeper insights into demand factors compared to a standard Poisson model (SPM), though both yield statistically similar consumer surplus estimates. This research applies the zonal travel cost method (ZTCM) to quantify recreational value, offering critical insights for heritage site management and economic valuation.

Voltaire, L., Lévi, L., Alban, F., & Boncoeur, J. (2016). Valuing cultural world heritage sites: an application of the travel cost method to Mont-Saint-Michel. Applied Economics, 49(16), 1593–1605. https://doi.org/10.1080/00036846.2016.1221046