A contingent valuation survey was conducted involving local community members, domestic and foreign visitors to estimate the environmental economics of the Khangchendzonga National Park and to elicit their willingness-to-pay (WTP) for its maintenance and conservation. Using a random survey, the average WTP was US 884forforeignvisitorspervisitfollowedbyUS 6.20 per household per year by local community members and US$ 1.91 per domestic visitor per visit for improvement in environmental conservation. The WTP was strongly influenced by age, education and income. The present study demonstrated that the contingent valuation method (CVM) is a promising approach, however it lacks inclusion of non-monetary contributions. The WTP for environmental management by the local communities was mostly in kind or time for services. The CVM can be a useful tool for decision-makers regarding investment and policy purposes for management of biodiversity hot spots and protected areas in developing countries.