Rosyada, Muhammad Zainal Abidin (2025) Economic Valuation Of Purwokerto Teratai Tower: A Travel Cost Method (TCM) Approach. Skripsi thesis, Universitas Jenderal Soedirman.

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Abstract

The development of regions by utilizing existing potential is one of the government's efforts to increase local revenue. Banyumas Regency has significant natural tourism potential; therefore, the government is undertaking various developments related to the tourism sector. One of the developments is the construction of the Teratai Tower, which not only serves as a tourist attraction but also as a Green Open Space (GOS). This strategy has dual potential in enhancing regional income and creating a balance in development by integrating economic and environmental aspects. This research aims to calculate the economic valuation of Purwokerto Teratai Tower and analyze the economic factors influencing the number of visits to Purwokerto Teratai Tower. This study employs the Travel Cost Method (TCM) approach. The population in this research consists of 100 respondents with the following criteria: 1) A minimum age of 17 years, 2) Currently visiting the Teratai Tower at the time of the interview, and 3) Having previously visited a substitute object, namely Andhang Pangrenan Park. This study utilizes the variables of Travel Cost, Income, Education Level, Facilities, Tourist Substitutes, and Number of Group as independent variables, and Number of Visits as the dependent variable. The calculation results indicate that the total cost of visitors' trips to the Purwokerto Teratai Tower amounts to Rp 14,208,000, with an average trip cost per visitor of Rp 142,080. The economic value of Purwokerto Teratai Tower is Rp 2,313,971,712,000 per year. Based on the analysis using the Independent Sample t-test, the factors influencing the number of visits are income, education level, facilities, and number of groups. Meanwhile, the variables of travel costs and tourism substitution do not affect the number of tourist visits to the Teratai Tower. The limitations of this research terms of the relatively small amount of data that has the potential to limit representation of the wider population and the statistical power of the analysis, as well as in terms of limited research time, which may hinder the exploration of the phenomenon in depth and comprehensively, especially in capturing the dynamics or changes that occur over a longer period of time.

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