Spatial Economic Valuation: Benefits Transfer using Geographical Information Systems

A benefits transfer exercise is performed to give a spatial representation to the total economic value of the Rio Bravo Conservation Area in north western Belize. The methodology investigates the use of Geographical Information Systems (GIS) to calibrate economic values from alternative sites for transfer to the site of interest. This is achieved by first mapping the “strength” or “quality” of the natural capital assets in the Rio Bravo, then using these maps to re-calibrate benefit estimates from alternative sites. The results of this process are “economic value maps”, showing the benefit value of natural capital assets in two-dimensions. Given the growing interest in the feasibility of transferring benefit estimates the paper demonstrates how GIS may be a powerful vehicle for comparing site characteristics prior to transferring values. The methodology also adds a spatial dimension to existing resource accounting frameworks.