Economic valuation of a marine ecosystem services: A case study of La Safor, Gulf of Valencia, Spain

Abstract

Marine ecosystems provide diverse essential services for human wellbeing known as ecosystem services. The value given to these ecosystems only reflects the value of goods and services that pass through the market, but does not consider the benefits generated by other services for which there is no market. This study aims to determine the economic value of the ecosystem services generated in the marine coastal strip of Safor, located on the east coast of Spain. In order to do this, we used the classification provided by The Economics of Ecosystems and Biodiversity, adapted from the marine environment. We used the Analytic Multicriteria Valuation Method, which combines the Analytic Hierarchy Process method with a rent updating method. The value of the ecosystem services generated in the marine coastal strip of Safor ranges between $ 2478 and $ 4479 USD/ha/year. This value expressed as an interval reflects the environmental ethical positions of two different groups of experts.