Abstract:
In highly developed nations, urban natural spaces are extremely crucial in the
ecological equilibrium, leisure and social well-being. This paper looks at socio
economic factors of the willingness to pay (WTP) to recreational value of Gregory
Lake, Nuwara Eliya in Sri Lanka. The convenience sampling technique was used to
sample 158 respondents comprising of local residents and visitors. Descriptive
statistics, chi-square analysis, and binary logistic regression analysis were used to
assess the factors that have a significant effect on WTP. Study findings indicate that
85 percent of the participants were ready to invest in lake conservation as it is an
important area of the environment and recreation. Age, gender, employment, income,
familiarity, and distance had a positive effect on WTP, whereas education had a
negative effect. The WTP was higher in older, employed and moderately familiar
people. Results highlight the importance of the socio-economic and spatial in the
valuation of urban natural resources. The paper suggests the adoption of fair
payment-of-ecosystem-services programs, participatory and community-based
planning, focused awareness creation and sustainable tourism policies to help in
conserving and managing Gregory Lake and other urban ecosystems like those in Sri
Lanka in the long-term.
