The valuation of marine ecosystem goods and services in the Caribbean: A literature review and framework for future valuation efforts

The valuation of marine ecosystem goods and services in the Caribbean: A literature review and framework for future valuation efforts

Primary Country: Caribbean
Ecosystem: multiple
Sample Value Estimates:
(a) 19,000km2 of reefs in the Caribbean provide annual net benefits of US$391 million from fisheries, US$720 million from coastal protection, US$663 million from tourism/recreation, Cesar et al. [2003] (b) NPV estimates for tourism in Montego Bay ranged from US$210 million to US$630 million, while the NPV of land and property at risk to loss from erosion and assumed to be protected by reefs is estimated to be US$65 million and estimated NPV for nearshore reef fisheries is found to be US$1.31 million, Ruitenbeek and Cartier p1999], Gustavson [1998, 2002] (c) In Tobago, direct economic impacts from visitor spending are estimated to be US$43.5 million in 2006, with an additional indirect impacts of US$58 to US$86 million (d) In St. Lucia, reef related tourism is found to generate US$91.6 million in direct effects and US$68 to US$102 million in indirect effects (e) the total direct economic impact from reef and mangrove associated tourism in Belize is estimated to be between approximately US$150 and US$196 million (f) The estimated value of coastal real estate that is protected by coral reefs is estimated to be between US$18 and US$33 million in Tobago, between US$28 and US$50 million in St. Lucia, and between US$120 and US$180 million in Belize (g) Revenues from reef - and mangrove - associated fisheries production and processing are estimated to be between US$14.2 and US$15.9 million per year in Belize, with over 70 percent attributable to exports. (h) Economic impacts from reef fisheries are estimated to be between US$ 0.7 and US$1.1 million for Tobago and between US$0.4 and US$0.7 million for St. Lucia. Burke et al. [2008a] and Cooper et al. [2009] (i) It is also clear that user fees as a basis for financing conservation are underutilized in the Wider Caribbean Region, especially in the case of MPAs.
Methodology: literature review
Region: Americas and Europe

Publication information

Schuhmann, P.W. R. Mahon “The valuation of marine ecosystem goods and services in the Caribbean: A literature review and framework for future valuation efforts” Ecosystem Services 11: 56-66, 2015

Addtional Notes

 

(a) Within the Wider Caribbean Region, or WCR, Jamaica has received the most attention in terms of both number and breadth of valuation studies (b) reefs have received the most attention while the continental shelf ecosystem has received the least attention. Valuation fo ecosystem goods and services in the pelagic zone have received little attention and existent valuation work focuses on commercial fisheries (c) approximately half the studies reviewed contain value estimates with recreation and tourism, with one-fourth containing estimates associated with capture fisheries (d) 

results suggest that the value and density of coastal development are positively correlated with the value of reefs. Yet, evidence also suggests that coastal development and recreation are associated with reef degradation (e) despite a plethora of market data and evidence of overfishing in the WCR, the economic impacts of overfishing appear to be largely unexplored.

 

 

 

"It is important to note that the primary goal of this research is to provide an overview of the existing state of knowledge regarding economic values associated with coastal and marine ecosystem services in the WCR. As such, we did not expect nor intend to generate precise counts of existing value estimates or valuation studies by ecosystem or service theme."

 


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