Economic value of wetlands-based recreation

Abstract

The loss of wetlands is an issue of growing concern. Previous studies have focused primarily on quantifying the commercial, storm protection, and energy-output values of wetlands. Relatively little research has been devoted to quantifying the outdoor recreational value of wetlands. In this paper, the recreational value of wetlands is discussed conceptually within a total economic value framework. Total economic value contains many value components which are broadly divided into non-use, current use, and future use values. Each of these value categories can be further subdivided into expenditures and consumer's surplus. An empirical study was conducted to measure expenditures and consumer's surplus associated with on-site, current recreational uses of a coastal wetlands area. Aggregate expenditures were estimated at approximately $118 million and aggregate consumer's surplus was estimated at approximately $27 million. These results suggest that the economic impacts and net economic benefits associated with wetlands-based recreation may be substantial. Hence, recreational functions provided by wetlands may be important considerations for wetlands policy and management.