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Abstract This article provides results on the net benefits generated from the natural resources in the Bohol Marine Triangle (BMT) in the Philippines. The BMT spans over 112,000 ha and its coastal ecosystems are rich in biodiversity and provide economic opportunities to the coastal communities. With a 10% discount rate, the accumulated total net benefits for the BMT resources over a 10-year period is US$11.54 million. Tourism and the municipal fisheries are the most important direct use values of the coastal and marine resources of the BMT accounting for 44% and 39% of the total net benefits. Annual revenues attributed to ecosystems were as follows: coral reefs, US$1.26 million; beach/intertidal area, US$1.12 million; marine waters, US$646,501; mangrove, US$239,561; and seagrass, US$105,990. The large market values indicate the dependence of the local community on the BMT coastal and marine resources. In the same way, non-market values show the important life-support functions of coastal and marine ecosystems. The net benefits reflect the magnitude of potential losses due to improper management of coastal and marine resources in the BMT. This valuation highlights the importance of the coastal services to the BMT economy and draws attention to the benefits the local stakeholders derive from BMT coastal resources. Policy measures can now take into account these values to justify a sufficient investment in coastal management efforts to sustain the flow of coastal services in the interest of current and future generations. Keywords: benefits of coastal resourcesdirect use valueseconomic valuationresource management This study was supported by a grant from the Bohol Marine Triangle Project of the Foundation for the Philippine Environment supported by the United Nations Development Programme-Global Environment Facility to the Coastal Conservation and Education Foundation, Inc. The Local Government Units of the Municipalities of Baclayon, Dauis and Panglao, as well as the Bohol Alliance of Non-Government Organizations are gratefully acknowledged for their support in the conduct of the study. Provincial Offices of Bureau of Fisheries and Aquatic Resources, Bohol Environment Management Office and the Bureau of Agricultural Statistics are acknowledged for the data provided. Much appreciation is extended to all the participants of the stakeholder consultation workshops for their valuable inputs. We thank Rafael Martinez for preparing the maps. Notes a Separated, widowed. b 1 USD = 54 Philippine pesos (2004). a Pamilacan Island Dolphin and Whale Watching Organization (PIDWWO). b Peak months from December to May. c Lean months from June to November. a Indirect or private sector net revenues from tourism are computed from the annual net revenue per entrepreneur and the number of entrepreneurs in the municipality. b Pamilacan Island. a Computed using diver's willingness-to-pay of $4 on Alona Beach, Panglao, Bohol (CitationArin & Kramer, 2002), and the number of divers during peak and lean months in the three municipalities. b Replacement cost approach estimated at $532 /ha (CitationTridoyo, 1998). c Nursery and habitat role estimated at 25% of fish landings. This is a conservative assumption based on 50% fish catch landings attributed to mangrove nursery role for fish and shrimps (CitationSasekumar et al., 1998). d Biodiversity value of $15/ha/year based on cost-benefit analysis of mangroves in Bintuni Bay, Indonesia (CitationRuitenbeek, 1992). a For comparability, the net benefits cited from other studies as US$/km2 were converted to US$/ha. 1. Key focus interventions in the BMT include marine reserves, elimination of destructive activities, alternative livelihood development. 2. Issues and opportunities were identified and discussed during multi-sectoral consultation workshops held in July 2004 with participation/representation of local stakeholders including fishers, local government units, non-government organizations, relevant government agencies, and the tourism business operators. 3. The benefits transfer approach presents some methodological issues: 1) the transfer of non-market value results from one location to another requires considerable adaptation; 2) any uncertainty with the original stated-preference study is transferred to this study. 4. Municipal fishing is the sector of fisheries that includes catching of fish in marine waters within the fifteen kilometers shoreline limit with the use of fishing boat of three gross tons or less, or using gear not requiring the use of boats. 5. US$1.00 = PhP 54.00 (2004) 6. Among the fishing gears, nets yielded the highest catch ranging from 4.7—12.5 kg/trip during peak fishing months. Spear fishing yielded the lowest catch averaging 1.4—4.6 kg/trip. 7. Opportunity cost of labor is assumed at PhP 80/day (US$1.50/day) based on provincial minimum wage rate in the Philippines. This was used for coastal activities including municipal fishing, gleaning, and seaweed farming, which use mainly family labor. 8. From intertidal area and seagrass beds, the gastropods and bivalves gleaned include pear oysters (Pterridae), miter shells (Mitridae), cockle (Cardiidae), venus shells (Veneridae), abalone (Haliotidae), bubble shells (Bullidae), Conches (Strombidae), Periwinkle (Littorinidae). Echinoderms gleaned include sea cucumbers (Holothuridae), sea urchins (Echinometra mathaei, Tripneustus gratilla and Diadema spp.). 9. Songculan Guso Farmers' Association (SOGUFA), Tabalong Seaweed Association and Panglao Seaweed Farmers' Association (PASFA). 10. No diver's fee is established in the BMT, hence potential direct revenues from diving are reflected in biodiversity value of coral reefs and based on diver's willingness-to-pay and number of divers. 11. Thus, although tourists have mixed motivations and there are many places they continue to visit, degraded natural resources in the BMT area will be unfavorable for the tourism establishments on Panglao Island. 12. Education and research value was estimated at $2.73/ha/year based on research expenditures, and expenditures on field courses, fellowships, training courses, education facilities and materials (CitationBunce et al., 1999). 13. CitationSasekumar et al. (1998) assumed that 50% of the fish landings could be attributed to mangroves. This off-site mangrove catch was valued for all the fisheries administrative districts on the west coast of Malaysia, Singapore and Indonesia. 14. CitationRuitenbeek (1992) discusses that historically, the 'capturable biodiversity benefit', defined as the potential benefit which the country might be able to obtain from the international community in exchange for maintaining its biodiversity base intact, was essentially zero. As the institutions and funds (e. g., USAID, international organizations, GEF) are becoming better established, countries can now capture some of the biodiversity benefit by attracting foreign funding for projects which promote conservation initiatives. In a benefit-cost analysis of Bintuni Bay, Indonesia, a value of US$1,500 per square kilometer per year is ascribed as 'capturable biodiversity benefit' if the mangrove were maintained intact. 15. Approximately US$ 500.00 in 2003.