Economic values associated with the Bighorn River
Most folks simply use the expenditure information since it is easy to understand and explainable. However, to demonstrate the total value of the fisheries resource one should include the net economic value.
Angler expenditures: (includes transportation costs, food & beverages, lodging, guide fees if any, and misc. items bought just for the trip. These figures do not include durable items such as rods, waders, etc. or license fees.)
Section 1. 3,784 angler days X $45.09 per angler day = $170,620
Section 2. 10,512 angler days X $45.09 per angler day = $473,986
Section 3. 28,863 angler days X $45.09 per angler day = $1,301,432
Total = $1,946,008
Section 1. 7,879 angler days X $235.36 per angler day = $1,854,401
Section 2. 7,920 angler days X $235.36 per angler day = $1,864,051
Section 3. 80,415 angler days X $235.36 per angler day = $18,926,474
Total = $22,644,926
Total = $24,590,934
Expenditures are important in showing the financial impacts to local communities and businesses the recreational value of the fisheries resource. Expenditures are a cost to anglers and therefore represent a minimal value of the resource.
Net Economic Value (NEV): the additional amount resident/nonresident anglers said the activity was worth over and above their actual expenditures. NEV is the appropriate figure to use when considering resource allocation decisions.
NEV = $189.00 per day X 139,373 angler days = $26,341,497
Total Economic Value: Sum of expenditures and net economic value.
Total Value – Bighorn River = $50.932,431 per year.
The citation for the economic/financial values presented is The Net Economic Value of Fishing in Montana, Duffield et.al., Montana Fish, Wildlife and Parks, 1987.
This economic/financial information has been updated to 2010 dollars using the U.S. Dept. of Labor, Bureau of Labor Statistics Consumer Price Index