Linking economic value to green spaces

Spatial planning is constantly faced with conflicts between pro-developmental approaches and pro-environmental approaches. Despite the vision of an integrated, holistic planning process, the environment and urban development are seen as opposing concepts with conflicting objectives. Current reality reveals that the environment is often sacrificed in order to benefit urban development, mainly because green spaces are seen as a luxury, a visual attribute to the city, and not a necessity. There is no monetary value connected to the green spaces, as it is hard to quantify and measure green spaces in economic terms. Urban spaces on the other hand, are believed to be more valuable,which is to some extent due to the fact that their direct benefits can be determined in monetary value. This research aimed to link green spaces and economic benefit in an attempt to quantify the intrinsic value of the green spaces, as a way to enhance green space planning. From the objectives of urban economics and green economics, it is believed that the value of green spaces will be enhanced when a monetary value can be connected to it.