This booklet gives a brief introduction to the social and economic values of wetlands. It has been written predominantly for the benefit of managers, planners and decisionmakers in government agencies in developing countries, who are responsible for charting the future of wetlands. The booklet defines wetlands and wetland types, and gives an overview of the various values that wetlands may have and the reasons why these values are often disregarded. It provides guidelines on when wetland valuation is called for, and how this valuation can be performed. It concludes with an introduction to the economic instruments that can be used to address the gap between the perceived and actual value of a wetland.