URBAN PARKS: ASSESSING NON-MARKET ENVIRONMENTAL VALUES AND POLICY STRATEGIES FOR SUSTAINABLE URBAN DEVELOPMENT

Samanes Park is the largest urban park in Ecuador and the third in Latin America. The park is one of the country’s protected areas, home to many native and wild species and a recreation space for local and foreign tourists. On the other hand, being a non-excludable non-rival good, Samanes Park is a public good. Many public goods do not have a market; consequently, they cannot be priced. The problem with the above is that they are not incorporated into decision-making, leading to their deterioration over time; Samanes Park is an example of the above. However, the population demands this type of goods, and its value is reflected in the consumer surplus. Non-market valuation aims to estimate the consumer surplus of public goods. This surplus can be used as a reference for public policy projects that aim to preserve the resource. This research applies the travel cost method (indirect valuation method) to estimate the consumer surplus of site visitors. The consumer surplus was estimated at US$4.50 per visit (per individual).