ECONOMIC VALUATION OF BANYUURIP MANGROVE ECO-TOURISM: THE APPLICATION OF TRAVEL COST METHOD AND ITS REVIEW FROM ISLAMIC PERSPECTIVE

This study applies of economic valuation using individual travel cost method derived from environmental services such as Banyuurip Mangrove Ecotourism which have no market value. Ordinary least square (OLS) is used to determine the factors that affect the number of tourist visits and estimate the economic value of Banyuurip Mangrove Ecotourism. The results of the estimation show that all independent variables statistically significantly influence the number of visits to Mangrove Ecotourism except for age variables. The calculation results show the economic value of Mangrove Ecotourism is 1,124,551,798.76 rupiah per year. Based on the perspective of Islamic natural resources and environment, Mangrove Banyuurip has applied several principles in its management. Seen from the treatment of mangrove ecotourism in protecting the environment so that does not occur damage in accordance with the principles of Islamic natural and economic resources. Fulfillment of worship facilities, namely the musholla provided for visitors, which is reflected in QS Ad-Dzariat ayah 56. The results of this study can be used as a consideration in making further policies for better development and management.

Keywords: economic valuation, ecotourism, Banyuurip Mangrove, individual travel cost method, OLS, Islamic perspective