New Analysis: Coral Reefs Provide Great Value to Jamaica's Economy
Source: World Resources Institute
June 7, 2011
Kingston, Jamaica - "Coral reefs provide significant value to the Jamaican economy, including tourism, fisheries and shoreline protection, according to new analysis released today. The study finds that reef-related fisheries contribute $34.3 million (USD) annually to Jamaica's economy. The study also revealed that beach erosion due to the loss of coral reefs could result in $23 million (USD) in lost tourism revenue per year. The analysis, entitled Coastal Capital: Jamaica was carried out by the World Resources Institute (WRI), the University of the West Indies' (UWI) Marine Geology Unit (MGU), the Mona GeoInformatics Institute (MGI), and the Nature Conservancy (TNC).
"Reefs are not only a source of wonder, they offer great value to Jamaica's economy," Lt. Commander Richard Russell, Chief Executive Officer of the Fisheries Division, Ministry of Agriculture and Fisheries. "Jamaica is world famous for its beautiful sand beaches, and protecting reefs is critical to ensure that Jamaica maintains its status as a top tier destination."
The analysis looked at tourism, fisheries, and shoreline protection, which represent just three of the many culturally and economically important services reef ecosystems provide in Jamaica. Even without a complete valuation of the other ecosystem services, the country's coral reefs are clearly valuable."
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