VALUING ENVIRONMENTAL CONSERVATION IN THE ASEAN REGION: A CONTINGENT VALUATION STUDY OF ULU TEMBURONG NATIONAL PARK

This paper presents an economic valuation of Ulu Temburong National Park, located on the island of Borneo, which has great potential as a repository of biodiversity and an ecotourism destination. The paper employed the contingent valuation (CV) method to estimate the willingness to pay (WTP) of Bruneians for conserving the national park for ecotourism and biodiversity protection purposes, and developed econometric models to analyse the preferences of respondents. According to the results, some dependent variables have a significant impact on the respondents' WTP and the probability of respondents visiting the national park. The WTP values are low, reflecting a view that the park's natural wealth should be managed through government funding. Though public support for conservation is strong up to now, there is a need for change to cope with economic challenges associated with depletion of the country's oil and natural gas resources. The study concludes that policy makers should enhance public awareness, promote forest-based small and medium enterprises, and involve indigenous and local communities in decision-making processes. The government should also consider setting up a research centre for the study of conservation of parks in the entire Borneo region in addition to Ulu Temburong National Park.