Masters Thesis Abstract: Mizna Mohamed
Economic valuation of coral reefs: a case study of the costs and benefits of improved management of Dhigali Haa, a marine protected area in Baa atoll, Maldives
Coral reefs are a vital resource in the Maldives, where the sustainable use of these resources is central to the continued economic success of the country's two largest sectors: tourism and fisheries. This recognition has led to numerous reef conservation and protection activities, including the establishment of Marine Protected Areas (MPAs). Despite general recognition of the importance of reef resources, insufficient funds are allocated by government to implement these parks. This situation is compounded by the absence of specific information and detailed understanding by policy makers of the true value and economic benefits of reef resources.
This research aimed to explore the value associated with coral reefs by undertaking an economic valuation of improved management of MPAs in the Maldives was conducted using Dhigali Haa, an MPA in Baa Atoll, Maldives, as a case study. The potential benefits were estimated using a contingent valuation survey to elicit the willingness to pay of tourists visiting Baa Atoll to see improved management at the MPA. In addition, local community consultations were conducted to understand local perceptions of MPAs and their effectiveness, and to develop a feasible improved management scenario. The results of the CV survey revealed support from tourists visiting Baa Atoll to pay for improved management of the MPA. A one-off conservation fee per visit for all tourists visiting Baa Atoll was preferred over a user fee solely for divers visiting Dhigali Haa. The estimate for the mean WTP for the conservation fee was US$35±5 compared to a mean WTP of US$15±5 for the user fee. Comparisons between the cost of implementing improved management and the benefits gained from tourist fees showed that a conservation fee would be more beneficial than a user fee. The estimated net present value for funding the improved management via a conservation fee was US$8.65 million.