Improving the economic effectiveness of coral reef restoration
This paper provides a brief overview of the economic costs and benefits of coral reef restoration and considers the potential application of benefit-cost analysis. Three coral restoration case studies indicate that restoration costs can vary enormously, from around US$10,000 ha−1 to US$5 million ha−1. A brief review of the economic benefits of coral reefs based on a 'total economic value' approach (i.e., accounting for direct and indirect uses, and 'non-uses'), reveals that potentially many thousands of US$ per hectare could accrue from reef restoration. Various parameters are identified which dictate the value of coral benefits, and those factors that can be manipulated through restoration to enhance coral benefits are highlighted. The paper concludes with a number of recommendations. There is scope for greater application of a 'benefit-cost analysis' framework to assess the justification for restoring coral reefs and to improve the overall effectiveness of such initiatives.
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Document Type: Research Article
Publication date: September 1, 2001
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