Economic Value
Coral reefs deliver ecosystem services to tourism, fisheries and coastline protection. The global economic value of coral reefs has been estimated at as much as US$ 375 billion per year. Coral reefs protect shorelines by absorbing wave energy, and many small islands would not exist without their reefs to protect them. According to the environmental group World Wide Fund for Nature, the economic cost over a 25-year period of destroying one kilometer of coral reef is somewhere between $137,000 and $1,200,000. About six million tons of fish are taken each year from coral reefs. Well-managed coral reefs have an annual yield of 15 tons of seafood on average per square kilometer. Southeast Asia's coral reef fisheries alone yield about $ 2.4 billion annually from seafood.
To improve the management of coastal coral reefs, another environmental group, the World Resources Institute (WRI) developed and published tools for calculating the value of coral reef-related tourism, shoreline protection and fisheries, partnering with five Caribbean countries. As of April 2011, published working papers covered St. Lucia, Tobago, Belize, and the Dominican Republic, with a paper for Jamaica in preparation. The WRI was also "making sure that the study results support improved coastal policies and management planning". The Belize study estimated the value of reef and mangrove services at $ 395–559 million annually.
Read more about this topic: Coral Reef
Famous quotes containing the words economic value and/or economic:
“A different world can be created or re-created—but not until we stop enshrining the economic values of invisible labor, infinite and obsessive growth, and a slow environmental suicide.”
—Gloria Steinem (b. 1934)
“What exacerbates the strain in the working class is the absence of money to pay for services they need, economic insecurity, poor daycare, and lack of dignity and boredom in each partner’s job. What exacerbates it in upper-middle class is the instability of paid help and the enormous demands of the career system in which both partners become willing believers. But the tug between traditional and egalitarian models of marriage runs from top to bottom of the class ladder.”
—Arlie Hochschild (20th century)
“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it—to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”
—Lyndon Baines Johnson (1908–1973)