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Economic Valuation of Endangered Species (Malayan Tapir)
Wan Luqman Nur Hakim Bin Wan Hamid
Supervisor: Dr. Mahirah Binti Kamaludin
Bachelors of Economics (Natural Resources)
School of Social and Economic Development
The study was conducted to estimate visitors’willingness to pay (WTP) of Taman
Rekreasi and Mini Zoo Kemaman, Terengganu for the conservation and preservation
of endangered animals,“tapir Malaya” species or its scientific name “tapirus indicus”,
the only tapir species from Asia. Problems with this species are often associated with
the destruction of forests for development and agriculture. Additionally, this species is
also the target of poachers who make these animal meat a source of food and income.
This has led to the population reduction of this species which leads to its extinction.
This can be overcome by raising the rate of entry ticket to Taman Rekreasi and Mini
Zoo Kemaman, Terengganu for the purpose of maintaining and conserving the species
of tapir Malaya. Contingent Valuation Method (CVM) was used on a total of 150
randomly selected visitors of Taman Rekreasi and Mini Zoo Kemaman, Terengganu to
evaluate their willingness to pay for the purpose of preserving and conserving this
species. Results of the data analysis found that bid price, amount of income, and
education level have reached a significant degree. The average value of the willingness
to pay (WTP) of individuals is RM 14.90.
Keywords: Contingent Valuation Method (CVM), Willingness To Pay (WTP), Bid Price,
Income, Education Level
1410 | UMT UNDERGRADUATE RESEARCH DAY 2018