Estimating the preservation value of Namhansanseong Fortress world heritage site using the contingent valuation method

The preservation value of Namhansanseong Fortress is estimated to be approximately 609 billion won annually for the Seoul-Incheon-Gyeonggi region, based on household willingness-to-pay. Using the contingent valuation method (CVM), this study assessed true preservation value by minimizing hypothetical bias through controlled scenarios and real-world conditions. The analysis revealed that heritage value (50.5%) is the most significant factor influencing preservation worth, followed by choice (25.8%) and existence value (23.7%). Key predictors of willingness to contribute to a preservation fund include visit frequency, gender, income exclusion, and strong support for Namhansanseong's conservation. Data was collected from 190 on-site visitors and 70 online respondents with prior experience, excluding 18 non-serious responses.

Shin, Y.-M., & Lee, S.-K. (2018). Estimating the preservation value of Namhansanseong Fortress world heritage site using the contingent valuation method. International Journal of Tourism and Hospitality Research, 32(5), 5–17. https://doi.org/10.21298/ijthr.2018.05.32.5.5