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Putting a dollar figure on
the value of wetlands is a difficult task. Nonetheless,
several economics studies have attempted to put a dollar
value on the functions (See Wetland Values and Functions)
that wetlands provide. A 2004 estimate by the Worldwide Fund
for Nature shows the value of wetlands in North America to
have an estimated annual worth of $676,846,000 based on the
numerous renewable functions that wetlands perform. The per
acre value of wetlands is $5,582/acre. The table below
outlines the economic value associated with different
wetland functions. |
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Wetland Function
|
Median Wetland Economic Value
($US/acre/year, 2000)
|
|
|
Flood Control |
1,146 |
| Recreational
Fishing |
924 |
|
Amenity/Recreation |
1,215 |
| Water
Filtering |
711 |
| Biodiversity |
529 |
| Habitat
Nursery |
496 |
| Recreational
Hunting |
304 |
| Water Supply |
111 |
| Materials |
111 |
| Fuel Wood |
35 |
|
Total |
5,582 |
Of course much of the economic
values in wetlands are unseen values, meaning that a landowner would
not see all of these direct benefits. However, some direct economic
benefits can be achieved through sale of timber, waterfowl hunting
leases, restoration of drained wetlands as mitigation projects, or
other nature enjoyment activities. For example, 65% of waterfowl
hunters spend over $250 each year and 20% spend over $1,000.
Landowners with wetlands containing good waterfowl habitat may want
to consider a hunting lease. Read the document (Hunting
Lease Enterprise) from Maryland Cooperative Extension for things
to consider when starting a hunting lease and the document
Economic and Legal Considerations for Waterfowl Management on
Private Lands by the U.S. Fish and Wildlife Service.
For further information on economics of wetlands view the entire
report by the Worldwide Fund for Nature entitled
Living
Waters: Conserving the Source of Life—The Economic Values of the
World’s Wetlands.
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