The Market and Non - Market Value of Water Based Activities in the West of Ireland

Trips to recreational sites generate two distinct kinds of economic impacts for the coastal and marine economy; market impacts and non-market impacts. Market impacts refer to the flow of money through an economy and the associated jobs, wages, and taxes associated with these flows. In contrast, non-market impacts refer to the consumer surplus that a resource provides. This paper examines both the market and non-market value of Water Based Activities (WBA) to the West of Ireland, using economic impact assessment and travel cost models. Capturing the market and nonmarket value (welfare effect) of commercial WBA in Galway and Clare, this paper highlights the high value that recreationalists place on WBA and the impact these activities have on the local economic market.