Willingness to pay for biological diversity conservation of the Lower Mekong River Basin in Thailand: A contingent valuation study

The objective of this research was to analyze the willingness to pay for biological diversity conservation of the Lower Mekong River Basin (LMRB) in Thailand. Questionnaires were collected from 763 households in 8 provinces located alongside the river including Chiang Rai, Nong Khai, Loei, Bueng Kan, Nakhon Phanom, Mukdahan, Ubon Ratchathani, and Amnart Charoen. The data were analyzed from the responses to the single-bounded closed-ended contingent valuation method questions and analyzed further using the non-parametric and logistic regression models. The results showed that the willingness to pay for biodiversity conservation by means of the non-parametric model was Baht 143.39 per year per household (US$ 3.99) and the total benefits were Baht 5,515,684.68 per year (US$ 153,471.38). This finding also revealed that the positive correlation of a household’s willingness to pay include age (Beta = 0.08, sig = 0.001) and level of education (Beta = 1.130, sig = 0.009)