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The Economic Value of Laem Phak Bia Mangrove Ecosystem Services in Phetchaburi Province, Thailand

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  • Sitthinan Wiwatthanapornchai
  • Chucheep Piputsitee
  • Samakkee Boonyawat

Abstract

Thailand is a one of the nation in Southeast Asia, covered by numerous mangrove areas approximately 244,000 hectares. Phetchaburi province is the one of the province in Thailand where the mangrove area has been increasing continually since King’s Royally Initiated Laem Phak Bia Environmental Research and Development Project has been set up. The mangrove ecosystems functions are vital to the livelihood of the surrounding community. Laem Phak Bia community is one that has been served from mangrove ecosystem services. This study assessed the economic value of Laem Phak Bia mangrove ecosystem services in an area approximately 237.44 hectares using Participatory Economic Valuation (PEV) by the villagers ranking and rating the importance of mangrove ecosystem services with a valuable thing for living that is the rice value. The results showed that this mangrove area was worth a total economic value about 100 million Baht per year or 424 thousand Baht per hectares per year. It could be divided into the value of regulation functions, production functions, habitat functions and information functions, which were about 38, 8, 25, and 29 million Baht per year, respectively.

Suggested Citation

  • Sitthinan Wiwatthanapornchai & Chucheep Piputsitee & Samakkee Boonyawat, 2014. "The Economic Value of Laem Phak Bia Mangrove Ecosystem Services in Phetchaburi Province, Thailand," Modern Applied Science, Canadian Center of Science and Education, vol. 8(5), pages 1-36, October.
    • Handle: RePEc:ibn:masjnl:v:8:y:2014:i:5:p:36
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    References listed on IDEAS

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    2. Janekarnkij, Penporn, 2010. "Assessing the Value of Krabi River Estuary Ramsar Site: Conservation and Development," ARE Working Papers 284034, Kasetsart University - Department of Agricultural and Resource Economics.
    3. Penporn Janekarnkij, 2010. "Assessing the Value of Krabi River Estuary Ramsar Site Conservation and Development," Working Papers 201004, Kasetsart University, Department of Agricultural and Resource Economics.
    4. Suthawan Sathirathai, 1998. "Economic Valuation of Mangroves and the Roles of Local Communities in the Conservation of Natural Resources: Case Study of Surat Thani, South of Thailand," EEPSEA Research Report rr1998061, Economy and Environment Program for Southeast Asia (EEPSEA), revised Jun 1998.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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