ASSESSING THE RECREATIONAL AND ENVIRONMENTAL VALUE (WITH SPECIAL REFERENCE TO GREGORY PARK, NUWARA ELIYA)

Abstract

This study examines the value of Gregory Lake, a prominent recreational site in Nuwara Eliya, Sri Lanka, through the lens of visitor willingness to pay (WTP) using the Travel Cost Method. The research explores the relationship between WTP and key independent variables, such as monthly income, mode of transportation, home distance, per-head travel cost, visit frequency, and purpose of the visit. Data was collected via structured questionnaires during field visits, and regression analysis was employed to test the hypotheses. The findings reveal that per-head travel cost and visit frequency significantly influence visitors’ WTP, while variables like monthly income and mode of transportation exhibit a weaker relationship. These results emphasize the economic significance of Gregory Lake as a recreational site and highlight the factors driving visitor engagement. The research yields new opportunities to identify real-world elements that may be used as pathways to add value to the park in both environmental and economic contexts. It is evident there are a small number of improvements that will need to take place, including the addition of visitor-ready infrastructure and the importance of facilitating efforts in sustainable methods of transportation. The results provide key opportunities for policymakers and stakeholders with respect to improved resource allocation, visitor satisfaction and sustainable management of Gregory Lake in the long term.