[pp.33-40]

Economic Valuation of the Nha Trang Bay Marine Protected Area: A Willingness to Pay Survey on the Conservation Programs

Naoko KAIDA and DANG Nguyet Anh （The University of Tsukuba / Ministry of Agriculture and Rural Development, Vietnam）

Abstract:
Marine protected areas (MPAs) are widely seen as important to preserve the world’s degraded marine ecosystems. The lack in identifying the economic value of MPA and the lack of financial sources for enforcing MPA policies remain challenges for the sustainable management of MPAs in Vietnam. This study aims at estimating the economic value of the conservation status of the Nha Trang Bay MPA (NTB-MPA) to propose a reasonable marine conservation fee as an entrance fee to visit the MPA islands. The present study also investigates tourists’ evaluation of different conservation programs as a basis for future allocation of the collected fee. From a contingent valuation survey that was carried out in NTB-MPA in August 2012, the mean willingness to pay (WTP) is estimated to be USD 5.99 (n = 166); accordingly, the economic value of NTB-MPA conservation programs is estimated at US$6.5 million (VND130.6 billion). Income and education are found to correlate with tourists’ WTP. It is also found that perceived importance of waste management and village-based microcredit as proposed conservation program components have positive effects on WTP. Taking into consideration the fact that the current entrance fee is much lower (8.3%) than the estimated WTP, the present study suggests the potential to raise the fee to finance sustainable conservation activities.

Key Word:
willingness to pay, contingent valuation, tourism, conservation fee, marine ecosystem

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