THE APPLICATION OF HEDONIC PRICE METHOD OF ECONOMIC VALUATION OF EMBUNG HUTADAA AS TOURIST ATTRACTION AND ITS DEVELOPMENT STRATEGY

Abstract

The research aums to calculate the economic valuation of Embung (Retention Basin) Hutadaa and Todetrmine the developmentstrategy of embun hutadaa. The dana used are from office of hutadaa village and questionnaire distributed to the visitors of embung hutadaa.in the, the method applied is hedonic price,while the stratefy analysis employs strangth weakness oppirtunity threat(SWOT). In accordance with the finding related to the application of hedonic price in embung hutadaa, two variables with significant influence in the model are discovered including : first, the tourist facility has a negative relationship meaning that an increase in visitor’s income level would decrease individual visitor rate for 0.601067 and the probability value is 0.0017. second ,the transportation has a positive relationship meaning that an increase in aesthetic value of embung would increase the individual vistor rate to 0.446902. and the probability value is 0.0264. in the meantime, the economic value estimation of embung hutadaa as tourist attraction in 2021 was IDR 2.199.000. Meanwhile ,in reference to the result of SWOT Matrix, it discovers development strategy alternative for embung hutadaa, namely SO stategy which higlights the use of the existing opportunity by optimixing the stregth owned. In detail the strategy includes: 1) maintaining characteristies of the tourist attraction to attract more tourists and 2) aptimizing tourism resources potential to incrase economic potential in tourism sector. The choices are opted to create the tourist attraction with natural design so that tourists who are nature lovers flock to visit and eventually, it contributes to the economic grwth both at regional and national levels