Resumen
Since Soviet times Lake Ülemiste has been closed to public access. The currentpractice of Tallinn may entail unnecessary losses of benefits to the local population.The aim of this paper is to find the value of the foregone benefits. In order to findthis value, a contingent valuation (CVM) survey was conducted involving a sampleof the adult population of Tallinn.According to the survey the average willingness to pay is 6.6 Euro and therecreational benefits foregone were estimated to 1.8 million Euros annually. Inorder to safeguard the quality of the drinking water, additional measures may beneeded. Discounted over a 30 year period allows investments of a maximum of 26million Euro. Applying the current investment plan of Gothenburg to Tallinn showsthat the recreational value of opening the lake to the public is sufficiently large tocover Gothenburg?s coal filter investments to be carried out in Tallinn.