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Recreational Value of Coastal and Marine Ecosystems in India: A Partial Estimate

Author

Listed:
  • Pranab Mukhopadhyay

    (Department of Economics, Goa University, Goa and Visiting Scholars, Madras School of Economics)

  • Vanessa da Costa

    (Department of Economics, Goa University, Goa and Visiting Scholars, Madras School of Economics)

Abstract

Recreation is an important ecosystem service in coastal and marine ecosystems. The methodology for valuing recreational services is well developed in the literature. To the best of our knowledge, this is the first attempt at estimating a country-wide value for this service. Using the zonal travel cost method we estimate the partial value of this service to be Rs 531.7 billion in 2012-13 for domestic tourists when consumer’s surplus component is not added. Therefore, this represents a floor value. This constituted about 0.49% of the GDP (at current prices in that year). It is expected that the final value of these services will be higher than what this estimate suggests as it constitutes only what the consumers (recreational visitors) spent in their travel by way of cost of travel, accommodation and income forgone (opportunity cost). The main purpose of this exercise is to understand how these ecosystems services are valued by individuals as there is no direct way to recognize their value. It then helps us to allocate resources better and conserve natural capital.

Suggested Citation

  • Pranab Mukhopadhyay & Vanessa da Costa, 2015. "Recreational Value of Coastal and Marine Ecosystems in India: A Partial Estimate," Working Papers 2015-124, Madras School of Economics,Chennai,India.
    • Handle: RePEc:mad:wpaper:2015-124
    as

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    References listed on IDEAS

    as
    1. Haque,A. K. Enamul & Murty,M. N. & Shyamsundar,Priya, 2011. "Environmental Valuation in South Asia," Cambridge Books, Cambridge University Press, number 9781107007147, January.
    2. Edward B. Barbier, 2012. "Progress and Challenges in Valuing Coastal and Marine Ecosystem Services," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 1-19.
    3. Richard T. Carson, 2012. "Contingent Valuation: A Practical Alternative When Prices Aren't Available," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 27-42, Fall.
    4. Anoop, P. & Suryaprakash, Satrasala, 2008. "Estimating the Option Value of Ashtamudi Estuary in South India: a contingent valuation approach," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43607, European Association of Agricultural Economists.
    5. Fisher, Brendan & Turner, R. Kerry & Morling, Paul, 2009. "Defining and classifying ecosystem services for decision making," Ecological Economics, Elsevier, vol. 68(3), pages 643-653, January.
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    More about this item

    Keywords

    Recreational Services in India; Travel Cost Method; Coastal and Marine Ecosystems;
    All these keywords.

    JEL classification:

    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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