Economic value of wetland resources in Kibaale district :

Abstract

This study was under taken to estimate the total economic value of Mutunguru wetland resources in Kibaale district. The study employed market price method and contingent valuation method as valuing techniques to obtain the values of both marketed and non-marketed goods and services provided by Mutunguru wetland. The findings indicate that Mutunguru wetland generated a stream of benefit ranging from direct market goods such as fish, crops, fresh water, thatch and fuel wood and indirect marketed goods and services such as climate regulation, water purification and soil retention. They also show that climate change regulation generated the highest monetary value ($225,134.08) and thatching grass generated the lowest value ($94.55). The results show that all estimated annual total economic value of Mutunguru wetland is $375,601.83. In conclusion, wetland resources contribute significantly to the household economy people living near the Mutunguru wetland. Approximately 57% of households depend on the wetland for either their own consumption or the sale of such resources for money to buy food as a basic need. Thus this study recommends for incentive based regulation to be adopted by the developing countries Uganda inclusive owing to their cost effectiveness than the traditional forms or command and control approach which only rely on enforcement. of regulations. Such approaches should include the use. of direct economic incentives that include properly rights that enable the formation of conditions under which communities will benefit from the wetlands and therefore have a stake in their conservation, performance bonds or subsidies upon environmentally friendly activities.