Contingent valuation of a natural resource: Pawikan sanctuary

This study measured the economic value of the pawikan Sanctuary using the contingent valuation approach. Two approaches were utilized, the Willingness-to-Pay (WTP) and the Willingness-to-Accept (WTA). The former was used to compute the contribution of the Dabawenyos to preserve and protect the pawikan sanctuary, while the latter measured the compensatory income revealed by the individuals whose livelihood have direct adverse impact on the sanctuary. Two sets of surveys were made, one to measure the WTA, targeted 100 residents surrounding the sanctuary, while the WTP with 1200 respondents scientifically chosen as respondents. Respondents of WTA posted average compensatory income of 7200 to cover income loss in the effort to preserve the sanctuary, with a derived producer surplus of Php 426. Meantime, the environmental protection contribution measured through WTP obtained estimated value of Php 9,837, with a derived consumer surplus of Php 8 per one additional person. The total economic value of the sanctuary was estimated at Php 435. The low imputed value of the natural resource is afforded to the fact the natural resource has no market value, people derive their income and livelihood from activities that imperil the resource, and finally, the public limits their support on the population of the marine turtle hosted in the pawikan sanctuary. This means that the contribution to preserve is required the moment there are turtles found in the sanctuary. This disconnects their revealed preference into the many roles and function of the natural resource. The general public misses the point that turtle also face the threat due to presence of oceanic plastic, the silting of the shoreline and the pollution of the water; all these will have impact on the population of the turtles in the coming years.