Economic valuation of the influence of invasive alien species on the economy of the Seychelles islands
Biodiversity underpins most economic activities in Seychelles, and loss of biodiversity as a result of invasive alien species (IAS) could result in major negative economic impacts for the country. This paper assesses the value of impacts of IAS on biodiversity, natural resources and the national economy, using the principles of total economic value (TEV). The contingent valuation method was used to obtain a willingness to pay (WTP) estimate for a policy to protect important biodiversity from IAS. Tourists indicated a mean WTP of US$52-US$58 on top of their usual expenditures to fund conservation policy. At present approximately US$0.25Â million per year is spent on IAS control while the economic damage associated with 4 key IAS is approximately US$21Â million per year. Comparing the benefits from eradication with the costs involved gives a benefit-cost ratio greater than unity, indicating that the policy of eradicating IAS is economically justified. However, there is a long way to go before the resources devoted to the problem will be in proportion to the risks.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Paulo Nunes & Jeroen van den Bergh, 2004. "Can People Value Protection against Invasive Marine Species? Evidence from a Joint TC–CV Survey in the Netherlands," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(4), pages 517-532, August.
- Evans, Edward A. & Spreen, Thomas H. & Knapp, J.L., 2002. "Economic Issues of Invasive Pests and Diseases and Food Safety," Monographs, University of Florida, International Agricultural Trade and Policy Center, number 15696.
- Bigsby, Hugh R. & Evans, Edward A. & Lee, Donna J. & Alavalapati, Janaki R.R., 2003. "Economics of Managing Invasive Species in Tropical and Sub-Tropical Areas of the U.S.A.: Case Study Development," Working Papers 15654, University of Florida, International Agricultural Trade and Policy Center.
- Walter Santagata & Giovanni Signorello, 2000. "Contingent Valuation of a Cultural Public Good and Policy Design: The Case of ``Napoli Musei Aperti''," Journal of Cultural Economics, Springer, vol. 24(3), pages 181-204, August.
- Olson, Lars J., 2006. "The Economics of Terrestrial Invasive Species: A Review of the Literature," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(1), April.
- Pimentel, David & Zuniga, Rodolfo & Morrison, Doug, 2005. "Update on the environmental and economic costs associated with alien-invasive species in the United States," Ecological Economics, Elsevier, vol. 52(3), pages 273-288, February.
- Brouwer, Roy, 2006. "Do stated preference methods stand the test of time? A test of the stability of contingent values and models for health risks when facing an extreme event," Ecological Economics, Elsevier, vol. 60(2), pages 399-406, December.
- Mathieu, Laurence F. & Langford, Ian H. & Kenyon, Wendy, 2003. "Valuing marine parks in a developing country: a case study of the Seychelles," Environment and Development Economics, Cambridge University Press, vol. 8(02), pages 373-390, May.
- J. D. Mumford, 2002. "Economic issues related to quarantine in international trade," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 29(3), pages 329-348, July.
- Cook, David & Proctor, Wendy, 2007. "Assessing the threat of exotic plant pests," Ecological Economics, Elsevier, vol. 63(2-3), pages 594-604, August.
- Born, Wanda & Rauschmayer, Felix & Brauer, Ingo, 2005. "Economic evaluation of biological invasions--a survey," Ecological Economics, Elsevier, vol. 55(3), pages 321-336, November.
- Whitehead John C. & Blomquist Glenn C. & Hoban Thomas J. & Clifford William B., 1995. "Assessing the Validity and Reliability of Contingent Values: A Comparison of On-Site Users, Off-Site Users, and Non-users," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 238-251, September.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:69:y:2010:i:12:p:2614-2623. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.