Economic valuation of the existence of the southwestern basin of the Dead Sea in Israel

The Dead Sea is a unique natural and tourist site that attracts many tourists. In recent decades, the Dead Sea water level is suffering from a significant decrease, resulting in the dehydration of the southwestern basin. This study focuses on the economic benefits arising from the continued existence of the southwestern basin as an important and unique tourism center. The economic benefits were estimated by methods for estimating market benefits of tourism based on market-data, as well as by the Travel Cost Method and the Contingent Valuation Method. The results suggest that there are clear economic benefits to the preservation of the southwestern basin, and while the market benefits constitute the major part of the estimated benefits, the non-market benefits show that the Israeli public assigns the southwestern basin a significant economic value. The results may assist in making informed policy decisions regarding the continued existence of the southwestern basin.