Author(s)

V. Estruch-Guitart, M. Vallés-Planells

Abstract

Aesthetic enjoyment can be considered as part of the Total Economic Value (TEV) of landscape. The main purpose of this study is to estimate the relative importance of landscape aesthetics in the full value of Albufera Natural Park (Valencia, Spain). The Analytic Multicriteria Valuation Method (AMUVAM) is applied with the aid of a set of experts that include local and external stakeholders. AMUVAM is a combination of two established techniques: analytic hierarchy process (AHP) and discount cash flow (DCF). According to the experts, existence (EV) and bequest values (BV) are the most important in this landscape, followed by indirect use values (IUV). Aesthetic enjoyment (AE) represents 7% of the TEV in Albufera Natural Park and 24% of the EV in Albufera Natural Park (€176 million). Results reveal distinct patterns in the valuation of TEV and EV. In this way, together with the average, a range of values which shows the different sensitivities of society is provided.

Keywords

analytical hierarchy process, economic value, landscape valuation, multi-criteria decision making, wetland