Method Factsheet - Travel Cost Valuation

The travel cost methods (TCM) is based on the observation that recreational services can only be realised through physical access to nature. This implies that individuals seeking to enjoy the service will need to spend resources (time and money) to travel to the site. The travel activity is a reflection of the use value this service has to people. Travel cost valuation may be based on single or multiple sites. Accessibility to the site(s) must be calculated using GIS (and preferably distances to the sites through the road network) to generate accurate value estimates. Econometric methods are used to estimate recreational demand functions (single sites) and models of choice of visit (multiple sites).