Coral Reefs: Their Functions, Threats and Economic Value

Abstract

Coral reef ecosystems provide many functions, services and goods to coastal populations, especially in the developing world. A variety of anthropogenic practices threatens reef health and therefore jeopardises the benefits flowing from these services and goods. These threats range from local pollution, sedimentation, destructive fishing practices and coral mining to global issues like coral bleaching. Economic valuation can help to shed light to the importance of the services and goods by ‘getting some of the numbers on the table’. Valuation techniques are discussed and a summary of economic studies on coral reefs is presented. The concepts of Total Economic Value and Cost Benefit Analysis are used to illustrate the valuation of marine protected areas (national parks, etc.) and of threats.