An overview of economic valuation of ecosystem services in protected areas and its roles in achieving Sustainable Development Goals (SDGs)

Abstract

Protected areas (PAs) provide a variety of benefits and services related to human welfare, poverty alleviation, and sustainable development. However, economic valuations of PAs are poorly measured to date. The majority of PAs management policy frameworks are based on biodiversity conservation. The purpose of this overview is to highlight the importance of PAs in achieving Sustainable Development Goals (SDGs) by reviewing current and past studies related to the economic value of ecosystem services and the valuation methodologies of PAs at local, regional, and national levels. In addition, the role of PAs in enhancing the sustainability of ecosystem services has been discussed. Furthermore, two case studies related to the ecosystem-economic perspective of PAs; Australia's Great Barrier Reef and India's Nagarhole Park, were highlighted. In general, the economic value of PAs is based on the components of ecosystem services, such as provisioning, regulating, supporting, and culture. The management of PAs is critical for valuation of species conservation as one of the standards derived from the ecosystem services. Additionally, it improved the level of financial income of the communities, their educational and health levels, revitalizing local businesses and providing job opportunities through the success of PA's management strategies as local, national, and international tourist destinations. This review provides a snapshot of the roles of PAs in achieving Sustainable Development Goals (SDGs), useful for future researchers, planners, park managers, and policymakers to develop policies for sustainable investment and improvement of PAs.