Abstract
Understanding visitors’ willingness to pay (WTP) for natural ecosystems can assist policymakers in managing the environmental assets that form the foundation of nature-based tourism. To earn the highest economic return from limited budgetary resources, tourist-dependent destinations must identify sustainable sources of conservation funding and prioritize spending across ecosystems and initiatives. The purpose of this study is to assess the potential for visitor donations to serve as a source of conservation funding and investigate preferences and willingness to pay for multiple ecosystems concurrently, using data from a stated preference survey administered in Grenada, a small island state in the southern Caribbean that relies on nature-based tourism. Results from a discrete choice experiment and a contingent valuation exercise reveal a reluctance to donate to conservation initiatives by more than half of respondents. Visitors place the highest value on improvements to coral reefs, followed by rainforests, mangroves, and beaches. Average willingness to donate to a conservation trust fund ranged from US $8.00 to US $15.00, and from US $17.00 to US $52.00 for conservation plans targeting improvements to specific ecosystems. Few factors are found to be associated with willingness to pay. Scale heterogeneity may be a more significant source of variation than preference heterogeneity.
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