Total Economic Value of Kingwal Wetland to the Surrounding Community, Nandi County, Kenya
DOI:
https://doi.org/10.2200/aerj.v3i2.189Keywords:
Benefits, Contingent Valuation (CV), Willingness-To-Pay (WTP), Economic ValuationAbstract
This study was undertaken in Kingwal wetland. The objective of the study was to evaluate the estimated economic value of Kingwal wetland. This was meant to help policy makers and conservationists develop effective measures to conserve the wetland especially in preservation of the rare Sitatunga antelopes whose numbers are reported to be decreasing due to the increasing human activities within the wetland. Data was collected in the months of January and February, 2018 from two hundred and forty respondents extracted from people living not more than 3km away from Kingwal wetland through systematic random sampling. Questionnaires, interviews and focused group discussions were used in data collection. The data collected were analyzed using descriptive statistic test. Results showed that the mean household willingness-to-pay per annum for Kingwal wetland was Ksh. 549,442 (US $5494.42). From the results, direct benefits contribute the highest monetary value (Ksh. 292,010) as compared to indirect (Ksh.112,561), option (Ksh. 62,649), bequest (Ksh. 26,125) and existence values (Ksh. 56,097). The study concluded that Kingwal wetland has an economic value of Ksh. 549,442 (US $5494.42) and that direct benefits (Ksh. 292,010) contribute the highest monetary value. The study recommended that there is a need to raise awareness regarding the economic worth of the benefits of wetlands to the people.
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