Economic Valuation of Lake Tana: A Recreational Use Value Estimation through the Travel Cost Method

Lake Tana is a well-known tourist spot in northern Ethiopia that lures both domestic and foreign tourists. The lake’s value still underrated, despite the site’s immense potential for recreation tourism. In this study, recreational of estimated, consumer characteristics associated with demand are analyzed. study employs Zero-Truncated Poisson (ZTP) regression model data generated by Individual Travel Cost Method (ITCM) draws information from 1094 on-site surveys. According to ZTP results, variables significantly positively include monthly income age visitors their preference other destinations such as Tis-Abay Gondar Fasiledes Royal Castle. However, respondents’ leisure time, overall cost, residential distance site all negatively recreation. It also evident endowed wealth attributes, ranging natural beauty ancient religious cultural heritages, making lake highly desirable destination. estimation, has yearly around USD 68.5 million. it demonstrates if settings were improve quality, would rise considerably, reaching 151 sentimental attachment implies determining Tana’s key element resource’s sustainable utilization management. To make greater use amenities, however, uncontrolled waste disposal, favorable facilities, spread water hyacinth should be addressed immediately. Furthermore, imperative maintain diverse integration these attributes what gives its primary appeal.