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Economic Valuation of Landscape in Marinas: Application to a Marina in Spanish Southern Mediterranean Coast (Granada, Spain)

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  • Ricardo Martín

    (Department of Civil Engineering, Universitat Politècnica de València, 46022 Valencia, Spain)

  • Víctor Yepes

    (Institute of Concrete Science and Technology (ICITECH), Department of Civil Engineering, Universitat Politècnica de València, 46022 Valencia, Spain)

Abstract

Assigning a monetary value to a landscape improves its importance. It helps to realize the magnitude of the benefits that can be obtained and represents the basis for applying protection and improvement policies. As a case study, we considered Marina del Este, located on the Spanish Southern Mediterranean coast, characterized by the presence of protected natural areas of great value and a rugged coastline beautiful to sailors. This study applies the analytic multicriteria valuation method (AMUVAN) to estimate the landscape’s economic contribution. This method combines the analytic hierarchy process and discounted cash flow analysis. A total of 16 participants were considered, all with knowledge about the marina, which included areas of the marina management, management organizations with competencies in the marina environment, commercial operation, and university professors. They weighted the importance of landscape concerning the rest of the marina activities, use versus non-use values, and the components of the total economic value (TEV) of the landscape within marinas as a natural asset. Results expressed that the landscape may reach a value of around 16.3 million euros. It represents more than 3000% of the value of the marina’s profit and loss account. A detailed analysis of the components of the TEV makes it possible to propose strategies to improve the economic value of the landscape.

Suggested Citation

  • Ricardo Martín & Víctor Yepes, 2022. "Economic Valuation of Landscape in Marinas: Application to a Marina in Spanish Southern Mediterranean Coast (Granada, Spain)," Land, MDPI, vol. 11(9), pages 1-19, August.
    • Handle: RePEc:gam:jlands:v:11:y:2022:i:9:p:1400-:d:898115
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    References listed on IDEAS

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    Cited by:

    1. Hugo Castro Noblejas & Pierfrancesco De Paola & Jesús Vías Martínez, 2023. "Landscape Value in the Spanish Costa del Sol’s Real Estate Market: The Case of Marbella," Land, MDPI, vol. 12(5), pages 1-16, April.
    2. Aleksandra Łapko, 2023. "Age Simulation Suits in Education and Training of Staff for the Nautical Tourism Sector," Sustainability, MDPI, vol. 15(4), pages 1-17, February.
    3. Ricardo Martín & Víctor Yepes, 2023. "Landscape Values in a Marina in Granada (Spain): Enhancing Landscape Management through Public Participation," Land, MDPI, vol. 12(2), pages 1-23, February.

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