Economic Valuation of Regulating Ecosystem Services of Thai Thuy Wetland in the Red River Delta of Vietnam

Abstract

The ecosystem in Thai Thuy wetland plays a significant role in providing goods and regulating services such as disaster risk reduction, carbon storage and water purification. This study aims to estimate the value of the major regulating ecosystem services of Thai Thuy wetland. Based on information collected through FGDs, supported by information from available literature sources, the key regulating ecosystem services of Thai Thuy wetland were identified for estimating their economic value. The main methods used for valuing these services are the benefit transfer and replacement cost methods. The total economic value of regulating services in the Thai Thuy wetland is estimated at US$6.1 mil. per year in the 2016 price. This could help to raise the awareness of the wetland importance for local people and policy makers so that more consideration should be given to better wetland conservation and management.