Green Space Value in Economic Aspect

Abstract

     This research evaluates economic value of green space in Bangkok. The hypothetical market approach with double-bounded question and Cameron's regression analysis model are applied to investigate the willingness to pay for the green space management in Bangkok. The data were collected in 2009 from a questionnaire survey of 676 households residing in Bangkok. It is found that most of respondents agree with the establishment of the green space management fund and willing to pay 750.48 baht per household per year for donation. The main reason due to their belief is that the green space could improve air quality. The total value of green space in Bangkok in 2009 is approximately 1.69 billion baht. The factors affecting respondents' willingness to pay for the green space development in Bangkok are bid amount, gender, income, and age. The results would be useful for planning and development of the green space in Bangkok.