Tourism Makes Conservation Pay: The Recreational Value of the Hon Mun Islands in Vietnam

Pham Khanh Nam () and Tran Vo Hung Son ()
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Pham Khanh Nam: Environmental Economics Unit, Faculty of Economics, University of Economics, Ho Chi Minh City
Tran Vo Hung Son: Environmental Economics Unit, Faculty of Economics, University of Economics, Ho Chi Minh City

No pb2001126, EEPSEA Policy Brief from Economy and Environment Program for Southeast Asia (EEPSEA)

Abstract: The study assesses the recreational value of the Hon Mun islands in Nha Trang Bay, Vietnam. It compares the economic benefits that tourism on the islands provides with those expected from the proposed expansion of a nearby port. It finds that the potential benefits from port expansion are outweighed by the negative impact the project would have on tourism revenue. The study concludes that environmental protection allied with tourism development makes the best sense economically. One of the major challenges facing environmental economics is to show how environmental protection can be reconciled with - and even drive - economic development. Eco-tourism is often cited as one way in which this goal can be achieved. This study from Vietnam provides important evidence of why such an approach can make economic sense. It looks at the economic importance of tourism for the Hon Mun islands, an area of national environmental significance. The study found that the islands are already a valuable economic resource because of their recreational value. The study also discovered that the islands' economic worth could be significantly boosted if tourism is sensitively developed. The research also found that the planned expansion of a nearby port would reduce tourism-generated revenue. The study predict that this loss would dwarf any economic gains from the port expansion program itself. They therefore recommend that the expansion plans be reconsidered.

Keywords: tourism; Vietnam (search for similar items in EconPapers)
Date: 2001-12, Revised 2001-12
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