The economics and institutional economics of wildlife on private land in Africa

Pastoralism

Research, Policy and Practice

Table 6 Summary of PAM results for eight wildlife properties in South Africa in 2010

	Farm
All price in South Africa Rand	a	b	c	d	e	f	g	h
(US $1=R7)	a	b	c	d	e	f	g	h
Property attributes
Farm size (ha)	5,207	1,700	3,700	2,017	2,800	3,200	14,400	30,000
Big five	Yes	No	Yes	No	No	No	No	Yes
Beds	68	42	52	12	12	10	-	-
Average price (rand)	2,854	350	260	285	350	250	-	-
Revenue sources(% of total revenue)
Tourism accommodation	95	2	79	95	0	5	0	0
Biltong hunting	0	0	0	0	0	17	1	0
Cattle	0	0	0	0	0	0	84	0
Game meat	0	0	0	0	0	1	0	0
Live game sales	0	92	2	0	100	71	14	100
Retail	6	0	3	2	0	0	0	0
Trophy hunting	0	6	16	0	0	6	2	0
Labour
Number of workers	194	84	20	19	9	10	75	10
Labour cost (rand/ha)	2,788	600	664	471	238	87	233	14
Labour cost (% of total expenditure)	77	21	43	63	51	18	19	18
Financial and economic results
Gross income (rand/ha)	8,706	4,936	2,231	105	1,643	1,099	2,906	150
Gross margin (rand/ha)	8,282	2,886	856	4	1,434	768	1,947	90
Private cost ratio	0.38	0.44	0.13	−1.51	0.34	0.69	0.16	0.16
Domestic resource cost	0.2	0.22	0.59	−1	0.26	0.43	0.11	0.08
Effective protection coefficient	0.94	0.88	0.92	0.94	0.96	1.03	0.91	0.9
Profitability coefficient	0.73	0.64	0.14	1.18	0.86	0.55	0.86	0.83
Net policy transfer (% tax on net profits)	27	36	86	−18	14	45	14	17