Advertisement

An Economic Analysis of Coral Reefs in the Andaman Sea of Thailand

  • Udomsak SeenprachawongEmail author
Chapter

Abstract

This study valued the benefits of coral reefs in the Andaman Sea in a proposed project development area known as the Southern Seaboard Development Project. The specific area of interest was the Phi Phi Islands, which is a highly valued group of islands both in terms of its use values and non-use values. Accordingly, this project calculated the recreational values of coral reefs in the Andaman Sea of Thailand. The specific objectives were (1) to estimate the recreational benefits of Phi Phi Islands, (2) to estimate consumer willingness to pay for improved coral reef quality at Phi Phi Islands and (3) to use these values to determine an appropriate entrance fee for visiting the reef sites at Phi Phi Islands. This study employed both travel cost method and contingent valuation method to generate estimates of the reef value at Phi Phi. The consumer surplus associated with visits to Phi Phi represents an annual value of THB 8216.4 million (USD 205.41 million).

Keywords

Economic analysis Coral reef Consumer surplus Entrance fee Thailand 

References

  1. Farber S (1988) The value of coastal wetland for recreation: an application of travel cost and contingent valuation methodologies. J Environ Manage 26:299–312, Academic PressGoogle Scholar
  2. Hanemann M (1984) Welfare evaluations in contingent valuation experiments with discrete responses. Am J Agric Econ 66:332–341CrossRefGoogle Scholar
  3. Huber R, Ruitenbeek HJ, Seroa Da Motta R (1998) Market-based instruments for environmental policymaking in Latin America and the Caribbean: lessons from eleven countries. The World Bank, Washington, DCCrossRefGoogle Scholar
  4. ONEB (Office of the National Environment Board of Thailand) (1991) A national coral reef strategy for Thailand, Vol. 1, Statement of need, Thailand Coastal Resources Management Project, Office of the National Environment Board, The University of Rhode Island and USAIDGoogle Scholar
  5. Pearce DW, Markandya A, Barde JP (1989) Environmental policy benefits: monetary valuation. Organisation for Economic Co-operation and Development, ParisGoogle Scholar

Copyright information

© Springer Science+Business Media Singapore 2016

Authors and Affiliations

  1. 1.School of Development EconomicsNational Institute of Development AdministrationBangkokThailand

Personalised recommendations