Estimation of Economic Valuation of the Hakgala Strict Nature Reserve: A Contingent valuation sturdy

Abstract

The study were done to quantify benefits that people obtain from Hakgala Strict Nature Reserve (HSNR), assign monetary values to identified ecosystem goods and services produced by HSNR, and determine annual economic value of HSNR ecosystem in its present. Targeted group of the questioner survey was the villagers living around HSNR and their willingness to pay (WTP) for conservation as a fee of the HSNR goods and services. This study revealed that 93% of the villagers were willing to contribute some amount of money as conservation fees. Most common explanation for WTP by respondents was a desire for better protection of the environment.