Economic Valuation of Landscape in Marinas: Application to a Marina in Spanish Southern Mediterranean Coast (Granada, Spain)

Ricardo Martín () and Víctor Yepes
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Ricardo Martín: Department of Civil Engineering, Universitat Politècnica de València, 46022 Valencia, Spain
Víctor Yepes: Institute of Concrete Science and Technology (ICITECH), Department of Civil Engineering, Universitat Politècnica de València, 46022 Valencia, Spain

Land, 2022, vol. 11, issue 9, 1-19

Abstract: Assigning a monetary value to a landscape improves its importance. It helps to realize the magnitude of the benefits that can be obtained and represents the basis for applying protection and improvement policies. As a case study, we considered Marina del Este, located on the Spanish Southern Mediterranean coast, characterized by the presence of protected natural areas of great value and a rugged coastline beautiful to sailors. This study applies the analytic multicriteria valuation method (AMUVAN) to estimate the landscape’s economic contribution. This method combines the analytic hierarchy process and discounted cash flow analysis. A total of 16 participants were considered, all with knowledge about the marina, which included areas of the marina management, management organizations with competencies in the marina environment, commercial operation, and university professors. They weighted the importance of landscape concerning the rest of the marina activities, use versus non-use values, and the components of the total economic value (TEV) of the landscape within marinas as a natural asset. Results expressed that the landscape may reach a value of around 16.3 million euros. It represents more than 3000% of the value of the marina’s profit and loss account. A detailed analysis of the components of the TEV makes it possible to propose strategies to improve the economic value of the landscape.

Keywords: landscape; marinas; AHP; AMUVAN; economic value; management (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:11:y:2022:i:9:p:1400-:d:898115

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