Economic valuation of ecosystem services in the Kole wetlands, A Ramsar site in Kerala, India

Wetlands are widely acknowledged as ecologically rich and highly productive ecosystems, on par with tropical evergreen forests, and are integral to long-term ecological sustainability. The present study undertook a comprehensive economic valuation of ecosystem services rendered by the Kole wetlands, a Ramsar-designated site located in Kerala, South India. Regarded as the “rice bowl of Kerala,” the Kole Wetlands offer a diverse array of provisioning, regulating, and cultural services that support the livelihoods of surrounding communities. A two-stage random sampling design was employed to select respondents for a household-level survey, administered using a semi-structured questionnaire. The valuation incorporated multiple methodologies, including the market price method, travel cost method, replacement cost approach, benefit transfer method, and contingent valuation technique. The assessment utilized the Total Economic Value (TEV) framework, which captures direct use, indirect use, and non-use values. The TEV of the Kole Wetlands was estimated at approximately USD 54.24 million (417.3 INR Crores), with flood regulation services contributing USD 25.3 million and paddy cultivation generating an annual value of USD 19 million. The findings underscore the critical ecological and economic roles of the Kole Wetlands, highlighting their function in biodiversity conservation and the socio-economic reliance of local populations on their ecosystem services.