Economic Valuation of the Caraça Sanctuary in Minas Gerais/BR

The aim of this work is to estimate the economic value of the Caraça Sanctuary in Minas Gerais/Brazil using the Travel Cost Method which aims to capture the recreational value of a natural asset thus helping to understand the effective economic value of a natural site. This method analyzes the expenditure made by visitors finding the consumer surplus in order to determine its economic value. The use of economic valuation methods is proving to be a fundamentally important tool for the preservation/conservation of the goods and services generated by ecosystems. A field sample survey was carried out collecting data using specific questionnaires and it was possible to arrive at the total economic value referring to the recreational value which is around R$137434781.00/year and has an individual budget constraint of R$61255.00. This figure confirms the economic importance of the Caraça Sanctuary for the region and the need for its preservation.