The economic importance of wild salmon - applying contingent valuation method

Abstract: Wild salmon face an alarming decline in numbers around the globe due to various reasons from which a great part serves the decrease of water quality and habitat destruction. Keeping in mind the benefits associated with wild salmon new measures and forms of social involvement are urgent before it becomes impossible to safeguard the species of interest. Followed by the international recommendations this study supported the use of a bottom-up working approach taking into account public opinion. A socio-economic field study was conducted regarding the values associated with wild salmon followed by the examples of several case studies obtained in Europe and overseas. The study used a contingent valuation method in order to draw the attitudes and the willingness to pay for the re-introduction of wild salmon in the River Ogre, Latvia. The study included analyses of different opinions towards the values of wild salmon. Two distinct respondent groups i.e. anglers/fisherman and non-anglers/fisherman living within the municipality of Ogre, Latvia were included in the sample reaching a response rate of 56 per cent. The average estimate as a single payment in 2015 of the willingness to pay reached a value of around 27±9, 95%, CI EUR/household/this year excluding zero and protest bids where the value lowered to 12±4, 95% CI EUR/household/this year when zero bids were included. The Welch Two sample t-test indicated that respondents under certain social categories such as fishermen/angler, men, respondents with family members fishing/angling and environmentally aware respondents were willing to pay more. Besides providing estimates on the willingness to pay, the study revealed that also non-fishermen/anglers gave a high importance of the values associated with wild salmon. A great deal of respondents ranked the benefits driven by non-use and non-consumptive values of wild salmon as “important” or “very important”. The outcome of the study has provided one of the first insights of the importance of wild salmon held by Latvian citizens. It is up to the public and researchers to be heard by the decision makers.