Economic valuation of mangrove forest: The case of Kim Son district, Ninh Binh province using contingent valuation method

Abstract

Contingent valuation method (CVM) is used to estimate the value of an environmental good and service. By applying the CVM method, this study estimates the value of mangrove forests in Kim Son district through the willingness to pay (WTP) of residents in the coastal area for two mangrove protection and development funds, for both present and future purposes. Data were collected from a survey in May 2023 using questionnaires with 90 farming households living in the coastal area of Kim Son district, employing a convenience sampling method. Benefits from mangrove forests recognised and appreciated by Kim Son coastal residents include the ability to block waves, protect dykes, block wind, limit soil erosion, limit human and economic risks caused by storms, improve air quality, filter water, provide breeding grounds for organisms, form soil, and provide food. Payment Card technology was used to determine WTP levels for mangrove protection and development in Kim Son district. According to calculations, the value of Kim Son mangrove forests is equal to 741 million VND/year, with WTP levels depending mainly on the gender of the respondent.