Description

This report looks at the economic value of biodiversity in both terrestrial and marine resources for the Samoan Government. The report contains three sections. The first discusses the underlying theory behind the economic valuation of biodiversity and explains four primary approaches to economic valuation. The second section describes the economic valuation study conducted in Samoa and gives estimates of the economic value of marine and terrestrial resources. The third section discusses policy recommendations for the Samoan government and lessons learned from the study. The total economic value of Samoan environmental services was found to be ST$21.0 million per annum from the perspective of Samoan citizens’ and was ST$232.5 million per annum when the global benefits were incorporated.