Willingness to pay of households for conservation of seagrasses in Nueva Valencia, Guimaras, Philippines

Abstract

Seagrass is one of the neglected and undervalued coastal resources in the Philippines. This study was conducted to find solutions to the problem of seagrass decline by assessing the willingness of the residents of Guimbal, Iloilo, to pay for the conservation of seagrasses in Barangay Tando, Nueva Valencia, Guimaras. The lack of policies and conservation financing that would protect and improve the integrity of the seagrass is a constraint not only on the associated resources but also on the livelihood of the people who are dependent on the resource. Contingent valuation method (CVM) was used to elicit people’s willingness to pay to a conservation trust fund for the protection and improvement of the state of the estimated 20 ha area of seagrass in Barangay Tando. The study found that 89.32 % of the respondents would be willing to pay, PHP900,917.64 (US$16,919.4) that could be raised annually to fund the conservation of seagrass. Given this potential source of revenue, the residents preferred a payment collection scheme through additional taxes on property or utility bills. Furthermore, this study reveals pertinent socio-economic and conservation financing implications that need to be considered in managing seagrass resources.