ENVIRONMENTAL COGNITION AND WILLINGNESS TO PAY FOR GREEN PARK SYSTEM DEVELOPMENT IN HUE CITY

Abstract

The study aims to investigate the effect of environmental awareness on the willingness to pay (WTP) to establish a green park system in Hue City. It surveyed 238 people using a convenience interview approach and utilized the Propensity Score Matching (PSM) method to reduce bias in the estimation process. The findings indicate that an individual's understanding of the importance of green parks for both the environment and tourism positively impacts their willingness to pay for the development of this system. Based on these findings, the study recommends that local governments adopt strategies to enhance public awareness of the significance of green spaces through propaganda campaigns focusing on environmental benefits, health, and tourism potential. Additionally, developing model green park projects in residential areas, schools, and public spaces will enable people to gain firsthand experience and better understand green space's value for life and the environment.