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Analysis of The Recreational Value of The Coral-Surrounded Hon Mun Islands In Vietnam

Author

Listed:
  • Pham Khanh Nam

    (Environmental Economics Unit, Faculty of Economics, University of Economics, Ho Chi Minh City)

  • Tran Vo Hung Son

    (Environmental Economics Unit, Faculty of Economics, University of Economics, Ho Chi Minh City)

Abstract

Understanding the recreational value of natural resources is crucial to effective conservation programmes. When natural resources are threatened with dire consequences by human activities, their recreational value is greatly reduced, thus affecting their contribution to conservation programmes. The purpose of this research is to explore the recreational value of the coral-surrounded Hon Mun Islands. The islands contain the richest coral biodiversity in the country and are only about six km from a port, which has been earmarked for expansion. This research employs the travel cost method and the contingent valuation method to measure and analyse impacts on the recreational value of the islands. The zonal travel cost model (ZTCM) estimates the annual recreational value at approximately USD 17.9 million while the result from the individual travel cost model (ITCM) is about USD 8.7 million. A 20% loss of the recreational value that is expected to ensue from the proposed port expansion is still larger than the expanded port's projected annual revenue of USD 3.1 million. Therefore, the port expansion proposal seriously needs reevaluation.

Suggested Citation

  • Pham Khanh Nam & Tran Vo Hung Son, 2001. "Analysis of The Recreational Value of The Coral-Surrounded Hon Mun Islands In Vietnam," EEPSEA Research Report rr2001122, Economy and Environment Program for Southeast Asia (EEPSEA), revised Dec 2001.
    • Handle: RePEc:eep:report:rr2001122
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    File URL: http://www.eepsea.org/pub/rr/2001_RR17.pdf
    File Function: First version, 2001
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    Cited by:

    1. Himayatullah Khan, 2006. "Willingness to Pay for Margalla Hills National Park: Evidence from the Travel Cost Method," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 11(2), pages 43-70, Jul-Dec.
    2. Londoño, Luz M. & Johnston, Robert J., 2012. "Enhancing the reliability of benefit transfer over heterogeneous sites: A meta-analysis of international coral reef values," Ecological Economics, Elsevier, vol. 78(C), pages 80-89.

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    Keywords

    Coral; Vietnam;

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