Kampung Warna-Warni Jodipan originally was a slum area located on the the Brantas River banks, then it was transformed into a tourist destination. The transition from a slum settlement to a tourist destination has led to greater interest in visits, so it is necessary to carry out an economic assessment so that the estimated value of the area benefits can be determined and tourism development can be described based on the factors that affect visits in the area. This study uses a quantitative survey method with the Travel Cost Method (TCM) approach of the visitors and the Contingent Valuation Method (CVM) approach of the affected
communities. The sample in this study were 103 respondents for the TCM approach and 74 respondents for the CVM approach. The dependent variable used for the TCM approach is the number of visits while the independent variable consists of age, education, occupation, distance, income, vehicle, total cost, travel time, duration, and motivation of the visit. The dependent variable used for the CVM approach is the amount of Willingness to Pay (WTP) while the independent variable consists of age, education, occupation, income, expenditure, existence, benefits, length of stay, business, control, land status, area, participation, accessibility, as well as facilities in the tourist area.
The results showed that the direct use value was IDR 423,299,886,345 and the existence value was IDR 18,262,403 so that the estimated total economic value was IDR 423,329,598,985.00. Occupation and visitor income have a significant positive effect on the number of visits, while age, education, distance traveled, and visitor travel costs have a significant negative effect on the visits number. Occupation, income, existence, area, and community participation have a significant positive effect on willingness to pay, while public expenditure has a significant negative effect on willingness to pay. The portrait of tourism development can be illustrated by optimizing sustainability based on tourist visits, strengthening the existence of community-based areas, and developing a strategy for the condition of the area based on the factors that influence visits to Kampung
Warna-Warni Jodipan.

Keyword: Economic value, TCM, CVM