Economic valuation of auctioned tourist hunting blocks in Tanzania
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Date
2023
Journal Title
Journal ISSN
Volume Title
Publisher
Scientific Research Publishing
Abstract
Economic valuation of ecosystems is increasingly being recognized as an important
exercise to inform sustainable utilization and conservation of natural
assets. It helps in planning and establishing fair profit margins that accrue either
directly or indirectly from the consumptive and non-consumptive uses
of ecosystem goods and services. This paper is based on a study which estimated
the economic values of tourist hunting blocks (HBs) in Tanzania using
the Analytic Multicriteria Valuation Method (AMUVAM). The study used a
sample size of 12 out of 24 vacant hunting blocks which were to be auctioned
to potential hunting companies in December 2022. The economic values of
HBs were estimated using the time horizon of 10 years (the mean tenure for
winning company). The results show that the economic values ranged from
USD 6,215,588 to USD 653,470,695 per hunting block and the Existence
Value (EV) constituted about 19% of the Total Economic Value (TEV). EV
ranged from USD 632,210 to USD 125,147,285. The study underscores the
need for decisions to allocate ecosystems, such as HBs, to both direct and indirect
uses, to be guided by a though understanding of their values. We further
recommend building the capacity of staff charged with the role of managing
and allocating uses of these ecosystems to enable them undertake economic
valuation of ecosystems using both simple and more robust analytical
tools, such as the GIS, relational databases, and worldwide websites based
tools, like InVEST (Integrated Valuation of Environmental Services and
Tradeoffs), ARIES (Artificial Intelligence for Ecosystem Services), and
Co$ting Nature.
Description
Journal Article
Keywords
Ecosystems, Total Economic Value, Biodiversity Conservation, Analytic Multicriteria Valuation Method, Hunting Blocks
Citation
Kadigi, R.M.J., Nkuwi, I.R., Ligate, F.A., Kija, H. and Musamba, E.B. (2023) Economic Valuation of Auctioned Tourist Hunting Blocks in Tanzania. Open Journal of Ecology, 13, 199-228. https://doi.org/10.4236/oje.2023.134013