Valuation of Ecosystem Services from an Important Wetland of Nepal: A Study from Begnas Watershed System

• Published in: Wetlands (Wilmington, N.C.) Vol. 40; no. 5; pp. 1071 - 1083
• Main Authors: Thapa, Shivaraj, Wang, Lanhui, Koirala, Anil, Shrestha, Subina, Bhattarai, Suman, Aye, Wai Nyein
• Format: Journal Article
• Language: English
• Published: Dordrecht Springer Netherlands 01.10.2020; Springer Nature B.V
• Subjects: Biodiversity; Biomedical and Life Sciences; Bird migration; Climate change; Coastal Sciences; Contingent valuation; Decision making; ecological value; Ecology; Economics; Ecosystem services; Ecosystem Services of Wetlands; Ecosystems; Endangered & extinct species; Environmental economics; Environmental Management; financial economics; focus groups; Freshwater & Marine Ecology; Hydrogeology; Lake restoration; lakes; Landscape Ecology; Life Sciences; Local communities; market prices; markets; Nepal; Reptiles & amphibians; stakeholders; Sustainable development; travel; Valuation; Watersheds; Wetlands; Nepal; Economic valuation; Ecosystem services; Watershed; Wetland conservation
• ISSN: 0277-5212; 1943-6246
• DOI: 10.1007/s13157-020-01303-7

Determining the economic value of wetlands is essential while creating sustainable wetland development plans and market-based ecological protection strategies. This paper studies the value of Begnas Watershed System by assessing the economic values of its selective ecosystem servicees. We conducted household surveys, multiple focus group discussions, stakeholder consultation, indepth interviews and used a combination of market and non-market based valuation methods like market price method, travel cost method, revealved price method, contingent valuation method, and benefit transfer method to determine the value of ecosystem services of the Begnas Watershed System. This study discovered that the economic benefit generated from the wetland was worth US 3.91 million per year, equivalent to US 650.67 per household and US$ 799.79 per hectare. The direct non-consumptive (recreational) service was the most beneficial service holding about 85% of the total value. This research study concludes that the Begnas Watershed System is economically beneficial for the local communities living in or close to the watershed and is worth the investment in lake restoration projects. This results from this study will serve as an important tool for policymakers and stakeholders during the formulation of management plans for the wetland's sustainability.