Investing in biodiversity: The recreational value of a natural coastal area

Abstract

This essay focuses on the comparison between the recreational value of a natural beach area and the recreational value of a developed beach area nearby. Within the EU DELOS (2000–2003) framework, a survey by questionnaire was carried out in 2002 in Lido di Dante, a well-developed tourist resort in Italy. It consists of the application of the Contingent Valuation Method (CVM) in the value of enjoyment version (VOE) for assessing the non-marketable recreational use (such as sunbathing, walking, and swimming) of the Lido di Dante beach areas in the status quo and in hypothetical scenarios of erosion and artificial defence. The project of defence from erosion, considered in this exercise, is paid with public funds. Foreigners were interviewed. It is highlighted that the recreational value in the situation of erosion is lower than that of the status quo, and that the individual loss of enjoyment would be considerable, while the implementation of the project would give a mean gain. Among the explanatory variables of the recreational beach use, the beach quality ratings seem to be important, while income is not significant when it is specified. The comparison of the values for the different beach areas highlights that in Lido di Dante, the daily use value in Euros of the natural beach area is higher than that of the developed beach area. This case study shows that, from a recreational point of view, investing in a natural area is successful and that a sustainable coastal development requires defence projects to be selected also in order to preserve biodiversity.