Measuring the Economic Benefits of Establishing Saemangeum Arboretum
| Autor: | Kim Su-Seung, Kang shin koo, Hyun-Tak Shin |
|---|---|
| Rok vydání: | 2014 |
| Předmět: | |
| Zdroj: | Journal of Agriculture & Life Science. 48:35-43 |
| ISSN: | 2383-8272 1598-5504 |
| DOI: | 10.14397/jals.2014.48.5.35 |
| Popis: | Seamangeum National Arboretum is a national arboretum to be created in the agricultural land of Seamangeum Polderland and open in 2025, as the largest coastal arboretum in the world, where plants growing on the coasts and islands of the oceanic climate zone will be collected and preserved in an area of 200ha. The planned location of the arboretum is geographically a stopover place of the oceanic climate and the inland climate – a complex space differentiated from other arboretums because you can secure a biological diversity there. Against this backdrop, in this study, we are estimating the economic benefits from the creation of the national arboretum, using the contingent valuation method. The results show that the average WTP is estimated to be 6,607 won per personal per year and statistically significant value of 207 billion won per year. As a final exercise, we implement a cost-benefit analysis and obtain three values : net present value of 14,186 million won, benefit-cost ratio of 1.16, and internal rate of return of 7.48%. They are greater than 0, 1.0, and 5.5%, respectively, which vividly portrays that establishing Saemangeum National Arboretum is economically profitable and socially desirable. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|