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PREM Working Paper 05-13 - Economic valuation of the Hon Mun Marine Protected Area

Author(s)Pham Khanh Nam, Tran Vo Hung Son, Herman Cesar
Co-Author(s)
Date2006-01-23
Theme(s)Fisheries, Biodiversity
Method(s)Valuation and CBA, Policy Instruments
Serie(s)Working Papers

Summary

This report assesses the economic value of coral reefs in Vietnam’s Hon Mun Marine Protected Area. It synthesises monetised values of reefs into a cost-benefit analysis for different MPA management scenarios; moreover it recommends a user fee system to achieve financial sustainability. The study was carried out in response to the growing need to establish and sustainably operate a marine protected area system in Vietnam. It was also undertaken to highlight the need for coral reef valuation to be given priority in marine resource conservation plans. Our results show that the tourism benefit of coral reefs is key for MPA management and local livelihoods improvement. We prove that, in the long term, continued management would provide greater net benefits (particularly in terms of fisheries and tourism) than a ‘no management’ scenario. Yet to ensure future management, Hon Mun needs to develop its own sustainable and autonomous financing regime. One way to ‘appropriate’ the park’s potential economic benefits is through a user-fee for eco-tourists.

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