ECONOMIC VALUATION OF CULTURAL HERITAGE: STUDY AT PRAMBANAN TEMPLE COMPOUND.
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Economic valuation in Prambanan Temple Compound is an important issue in result of increasing tourism activities in cultural heritage sites. Tourism activities in the cultural heritage sites can generate benefits for the economy but also can cause negative impacts on sustainability of cultural heritage in the area. Assessing the ecsnomics value sf Prambanan Temple Compound will lead to implement sustainable tourism management to prevent exploitation of cultural heritage. This study aimed to determine factors that influence demand and individual willingness-to-pay in Prambanan Ternple Compound, economic value of this site, and sustainable tourism scenarios which is best applied in this site. This study is expected as a consideration among tourism stakeholders in formulating sustainable tourism development strategy in Prambanan Temple Compound and also to determine the economic value in the Prambanan Temple Compound, which both of them associated with sustainable tourism management as a way to prbvent excessive exploitation caused by high tourism activities in this area. This study using two methods, namely Travel Cost Method and Contingent Valuation Method. The economic value obtained from the method of travel cost amounted Rp.3.026.701.500.108 and the results obtained from the Contingent.Valuation Methods with varying level of scenarios are Rp.176.680J67.077 to Rp.2L9.315.349.218. This value higher than gross revenue frorn admission which only gained Rp.54.170.046.000 through 20L4. This study found that there is a potential economic scenario to gain more revenue for the management when the management could enhance temple compound conservation and services.