Travel Cost Method

The Travel Cost Method (TCM) is an economic technique used to estimate the value of recreational sites or natural resources based on the costs people incur to visit them. It considers expenses such as transportation, time, and entrance fees. By analyzing how much visitors are willing to spend to reach a location, economists can infer its value to society. This method helps in decision-making about conservation and resource management by quantifying the benefits of natural areas, ultimately guiding policies that reflect their importance to people.