How much are the Bolinao-Anda coral reefs worth?
Abstract The Total Economic Value of the estimated 200 km2 of coral reef area straddling the municipalities of Alaminos, Anda, Bani and Bolinao in Pangasinan, Philippines is estimated to reach US$38 million per year consisting mainly of indirect benefits from shoreline protection. Direct use from fisheries, aquaculture, and tourism was valued at US$6 million based on the coral reef interaction index. Non-use values for coral reef conservation were based on estimates of willingness to pay across the three economic sectors plus the general public as a fourth sector. Results varied across sectors and municipalities although the ranges were not wide, especially for fishers. Fishers’ willingness to pay averaged at US$0.25 per individual per year. Except for aquaculture operators in Bolinao, which yielded willingness to pay values reaching US$3 per individual per year, the range of conservation funding was narrow for the three other municipalities for all sectors. Using binary logistic regression (logit model), differences in willingness to pay among fishers are explained by the age, number of children, and employment status.