Amiluhur Soeroso
STIE Pariwisata API Yogyakarta
E-mail: amisoeroso@gmail.com
Objective of the study is measuring economy feasibility of Kridosono urban park as a public goods that expected directly addresses the issues of natural environmental quality. Data were obtained from interviews toward local resident of Yogyakarta municipality. Hereafter, willingness to pay (WTP) toward demand models were estimated by contingent valuation method (CVM) and used to derive total consumer surplus.
The results indicate that economic value of Kridosono Stadium land is about US$ 27 million (IDR 257 billion) per annum, more than its market price i.e. amount US$ 7.8 million or IDR 74 billion. Thus, the study gives stakeholders knowledge of decision making for managing, funding and alocating resources. Utilization part of Kridosono Stadium land as urban park will give bigger benefit than it would be this for commercial interest. Auspicious is hanging on the urban park, because it will help eliminate greenhouse gases i.e. Carbon dioxide, Methane, Nitrous oxide, Hydro-fluorocarbons, Perflurocarbon and Sulfur hexafluoride which is produced by motor vehicle.
Keywords: urban park, WTP, consumer surplus, economic value, Kridosono