Economic analysis of nature preservation investments: the zonal travel cost approach applied for Harghita County of Romania

The paper is focused on the cost of travel method and specific issues involved by the use of this method for monetization of benefits provided by nature preservation investment projects. Usually, nature preservation investment projects are non revenue generator projects and consequently the monetization of benefits provided is essential in the process of analysis and valuation of these projects, because benefits are the only positive effects able to counterbalance the investment costs. Therefore, the main interest and particularity of the cost-benefit analysis of nature preservation investment projects consists in identification and monetization of the benefits. In the following paper, the method of zonal travel cost is used for indicative valuation of the direct benefits of an investment project for nature preservation, in Harghita County of Romania, as an opportunity and pre-feasibility study completed before making the initial investment decision.