Understanding the Potential Economic Impacts of Sinking Ships for SCUBA Recreation

$28.00 plus tax (Refund Policy)

Buy Article:

Abstract:

Ships, planes, and other large structures are finding their way to the bottom of the sea along coasts in North America, Europe, Australia, and elsewhere. More and more, coastal communities and even not-for-profit organizations (e.g. the San Diego Oceans Foundation and Artificial Reef Society of British Columbia) are actively promoting and financing "ships to reefs" projects as a means of providing new destinations for recreational SCUBA diving tourists.

Creating a "ships to reef" site can be costly. The cost to prepare a ship for reefing can range from $46,000 to $2 million, depending on the size of the vessel (Hess et al., 2001). The benefits, however, can be equally large or larger. In order to get a better idea of the potential economic value of ships to reefs, I review the literature on the value of recreational diving to artificial reefs in the United States. Using data from the literature, I estimate that potential net present value of expenditures associated with the recently placed Yukon ship to reef site in Southern California could be on the order of $46 million and the potential net present non-market value of the sunken ship could be as high as $13 million. These estimates are within an order of magnitude of estimates based on a preliminary survey of divers at the Yukon.

Document Type: Research Article

DOI: http://dx.doi.org/10.4031/002533205787443944

Publication date: June 1, 2005

More about this publication?
  • The Marine Technology Society Journal is the flagship publication of the Marine Technology Society. It publishes the highest caliber, peer-reviewed papers on subjects of interest to the society: marine technology, ocean science, marine policy and education. The Journal is dedicated to publishing timely special issues on emerging ocean community concerns while also showcasing general interest and student-authored works.
  • Editorial Board
  • Submit a Paper
  • Subscribe to this Title
  • Membership Information
  • Information for Advertisers
  • ingentaconnect is not responsible for the content or availability of external websites
Related content

Tools

Favourites

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more