The demand for galapagos vacations: Estimation and application to wilderness preservation

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Abstract
The demand for Galapagos vacations by ecotourists was estimated using hedonic demand analysis, a technique being developed by environmental economists. In turn, the demand model was used to explore how a fiscal policy of maximizing tax revenues could help to satisfy the alleged incompatible goals of wilderness preservation and economic growth. Constrained to a carrying capacity of 125,000 visitor days, there is potential to raise about $30 million (U.S.) by substantially increasing the entrance fee charged to ecotourists. This tax revenue could be used to finance both conservation of the Galapagos wilderness and investment in Ecuador's economy.

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