Monumental trees and their existence value: Case study of an Italian natural park

The paper deals with the evaluation of the existence value of monumental trees in a protected area. Financial resources to be destined for protection interventions have been decreasing more and more, with a high risk of losing this natural heritage. A Contingent Valuation Method (CVM) survey was carried out among the Madonie Park (Sicily, Italy) resident households to evaluate the existence value of monumental trees of the nature trail named "Piano Sempria-Piano Pomo", represented by a population of "Giant hollies" and by 7 other individual trees. These are the main results of the CVM survey: the overall response rate was 40%, individual average WTPs (Willingness To Pay) were £12.37 for the protection of the holly population and £13.45 for all the monumental trees along the nature trail. The median WTPs were £2.00 and £5.00, respectively. The aggregate WTP estimates for the Park residents range from a minimum of £10,520.40 to a maximum amount of £83,479.37 depending upon the investigated resource and the statistics considered.