Climate Adaptation in Coastal Caravan Parks: Economic Value and Equity Research Report, Report 2

This Research Report presents for the first time information about the economic and social value of caravan and camping parks (CCPs) on coastal Crown land to campers and residents which should be considered in decision making for climate change adaptation. This information includes social equity preferences and both economic market values and nonmarket values.This is the second document generated through the 'Value and Equity Framework for Climate Adaptation: Coastal Caravan and Camping Parks Case Study' project led by Victoria's Western Coastal Board as a part of the federal Coastal Adaptation Decision Pathways program. Key benefits of this research include: The findings presented in this report estimate for the first time the significant non-market economic values associated with recreation and protection of CCPs on Victorian coastal Crown land and beaches. This study has demonstrated how non-market valuation techniques can be used to provide more precise information about the preferences and values that different groups in society hold for natural and built coastal assets. This research also takes a leap forward, by assessing the equity preferences of both campers and residents as members of broader society. Together, the explicit balancing of equity and economic efficiency provides an important mechanism to make adaptation decisions.