Economic valuation of ecotourism resources as a conservation tool for the Makiling Botanic Gardens
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The Makiling Botanic Gardens (MBG) is one of the ecotourism points of interest in the Mount Makiling Forest Reserve ASEAN Heritage Park (MMFR AHP) and the nearest mountain ecosystem to Metropolitan Manila, Philippines. The MBG serves as a living collection and sanctuary of endemic and endangered plant species in the Philippines and promotes public awareness and appreciation of biodiversity through conservation education. The MMFR’s recognition as AHP in 2013 has received support and assistance from different agencies to further develop its ecotourism potential. However, developments are anticipated to be at the expense of low-priced ecotourism services. The study aimed to estimate the willingness to pay of MBG visitors for its enhanced conservation using the contingent valuation method. The contingent valuation survey was administered through face-to face interviews. Results show that out of 253 respondents, 79% expressed willingness to pay (WTP) for the enhanced conservation of MBG. The elicited mean WTP is PhP 73.79 ($1.46) on top of the current entrance fee of PhP 50.00 ($1)/visit. The significant factors affecting visitors’ WTP were bid amount, income, and education. Given the elicited mean WTP added to the current entrance fee and the average number of visitors of MBG (41,281) annually, the potential revenue of MBG if the WTP will be captured is about PhP 6.3 million ($124,758). Results of the study can serve as a reference in adjusting the entrance fee of the MBG to support the full implementation of MMFR's management plan in the context of an ASEAN Heritage Park.
Keywords: Protected area, Ecosystem services, Sustainable financing, Resource use fees
ID: 3622992