Figure 2. Monetary values associated with polar bears in Canada, by value category (aggregate amounts for Canada)

This section presents the aggregate valuation in monetary terms of all four values throughout Canada.

This figure indicates that Canadians are willing to pay $6,320 million/year to ensure that Canada’s polar bear population do not disappear. In addition to the preservation value, the amount most likely includes values relating to indirect uses such as the scientific, educational and advertising values, because the meta-analysis used to estimate it is based on the total economic value of the species. The model doesn’t estimate hunting value and offers the possibility to eliminate the recreation value, but apart from these two values, it is not possible to differentiate among the various values.

The value of viewing polar bears in their natural habitat in Churchill is estimated at $7.2 million/year,

The sport-hunting value is in third place with $1.3 million/year, This study took only Canadian hunters into account, but polar bear hunting draws many more foreigners than Canadians and, as is also true for polar bear viewing, these hunters were generally willing to pay more than Canadians. 

Subsistence hunting is the last value, with $0.6 million/year, which represents the value of the bear skins and meat consumed or sold on the market.