Economic Valuation of Wetland Ecosystem Services

Abstract

Abstract Most of the wetland ecosystem services are non-marketed, and as a result the economic importance of wetlands is undermined in the public policy domain, subjecting these natural assets to severe depletion and degradation. It is necessary to obtain information on the economic values of ecosystem services and their losses thereof to improve the wetlands. Across the globe, many economic valuation studies have been carried out to monetize the non-marketable ecosystem services of wetlands, and the results of these studies are used for creating awareness among stakeholders as well as for evidence-based policymaking in the area of wetland management. In this study, we critically review some of the important valuation studies to assess the current status, highlight the issues involved in generating such values, and propose measures to strengthen wetland-valuation practices in the future.