Valuing Biodiversity. The economic case for biodiversity conservation in the Maldives

Valuing Biodiversity. The economic case for biodiversity conservation in the Maldives

Primary Country: Maldives
Ecosystem: coral reef
Sample Value Estimates:
(a) US$764 million or Rf 9,741 million or 67% GDP estimated direct value of tourism to Maldives (b) US$55.5 million or Rf 855 million or 8.5% GDP estimated direct value of fisheries sector to Maldives (c) US$1.3 to $2.2 billion or Rf 20 to 34 billion replacement cost of coral reef (d) US$130,000 and US$120,000 or Rf 2 million and Rf 1.8 million per year respectively as indirect and existence values based on willingness to pay (e) US$14.9 million or Rf 230 million existence value based on overseas WTP. Direct, indirect and existence values for biodiversity for the Baa Atoll economy were also determined in the study.
Methodology: market price method for direct value; replacement cost and contingent valuation (willingness to pay) for indirect and existence values
Region: Asia

Publication information

Emerton, L. Baig, S.Saleem, M. “Valuing Biodiversity. The economic case for biodiversity conservation in the Maldives” IUCN for the AEC Project, Ministry of Housing, Transport and Environment, Government of Maldives and UNDP Maldives: 86 pp., 2009

Addtional Notes

Direct benefits from fisheries and the tourism sector were evaluated using the market price method. The indirect value was found via the replacement cost method. The total costs of constructing seawalls, brekawaters and other structures to replace the barriers currently provided by coral reefs would be between Rf 20 to 34 billion. The contingent valuation method (willingness to pay) was used to determine existence values. In light of the findings, key recommendations are included in the study for financing and creating economic incentives for biodiversity conservation in the Maldives.

The IUCN produced policy briefs of this study for the AEC Project and can be found at 

http://cmsdata.iucn.org/downloads/policy_briefs_the_economic_value_of_marine_and_coastal.pdf.

Also see the TEEB case based on this study: TEEBcase by S. Baig (2010) Tourism more valuable than fisheries, Maldives, available at: TEEBweb.org. 

http://www.cbd.int/financial/values/maldives-valuemarine.pdf

Information provided when available, for more information please visit the original database or PDF.