Applied Economics Journal

Applied Economics Journal

ISSN 0858-9291

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  • AEJ highlights the applications of concepts and theories to issues in micro- and macroeconomics
  • Double-blind peer review
  • Two issues a year (Jun, Dec)
  • Open access to all full-text content

Vol. 8 No. 2
Vol. 8 No. 2
Capturing Coral Reef Benefit Values: Financing Marine Environment Conservation at Phi Phi Islands (in English)


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The focus of this study is the valuation of Phi Phi coral reefs and how this information can be used to improve planning for coral reef management in Thailand. The annual benefit from the recreational services of Phi Phi estimated by a travel cost method was estimated at 8,216.4 million Baht (US$205.41 million).Therefore, the value of Phi Phi is about 249,720 Baht (US$6,243) per ha per year (the reef area at Phi Phi is 32,900 ha). A contingent valuation method was used to estimate utility values associated with coral reef biodiversity at Phi Phi. The mean willingness to pay (WTP) per visit was estimated at 287 Baht (US$7.17) for domestic visitors and at 286 Baht (US$7.15) for international visitors. The annual total value of Phi Phis coral reefs was estimated to be 5.89 million Baht (US$.147 million) for domestic visitors and 49.6 million Baht (US$1.24 million) for international visitors. It is recommended that a benefit capture instrument be implemented that targets tourists consumer surpluses. This study suggests a basic entrance fee of 40 Baht (US$1) per person per visit but additional user charges should be implemented when visitors received additional services from the variety of recreational sites being offered at Phi Phi

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Faculty of Economics Kasetsart University :  Center for Applied Economic Research (CAER) :  Other Journals :  Thai-Journal Citation Index Centre (TCI) (TCI)

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Kasersart University Journal of Economics
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