Economic Valuation of Coral Reefs in St. Lucia –

Economic Valuation of Coral Economic Valuation of Coral Reefs in St. Lucia – Reefs in St. Lucia –

June 2008June 2008Castries, St. Castries, St.

Lucia Lucia

Lauretta BurkeLauretta Burke

World World Resources Resources InstituteInstitute

Project Partners IncludeProject Partners IncludeRegional PartnersRegional Partners University of the West University of the West

Indies (UWI) / Sustainable Indies (UWI) / Sustainable Economic Development Economic Development Unit (SEDU)Unit (SEDU)

Caribbean Natural Caribbean Natural Resources Institute Resources Institute (CANARI)(CANARI)

T&T Institute of Marine T&T Institute of Marine Affairs (IMA)Affairs (IMA)

CEHICEHI

OECSOECS

Saint LuciaSaint Lucia

Government of Saint Government of Saint LuciaLucia Planning DepartmentPlanning Department Fisheries DepartmentFisheries Department SMMASMMA Ministry of TourismMinistry of Tourism Statistical OfficeStatistical Office

St. Lucia National St. Lucia National TrustTrust

SLHA, resortsSLHA, resorts

Financial SupportFinancial Support

Macarthur Macarthur Foundation Foundation

Ocean Foundation Ocean Foundation

Henry Foundation Henry Foundation

Munson Foundation Munson Foundation

Dutch Ministry of Dutch Ministry of Foreign Affairs Foreign Affairs

SwedBioSwedBio

International Coral International Coral Reef Action Reef Action Network (ICRAN)Network (ICRAN)

Buccoo Reef Trust Buccoo Reef Trust

Program OverviewProgram Overview

1.1. Ecosystem Goods and ServicesEcosystem Goods and Services

2.2. Summary of results Summary of results

3.3. Policy ApplicationsPolicy Applications

4.4. Background on this Economic Valuation Background on this Economic Valuation project project – method and features– method and features

5.5. Valuation – details for St. LuciaValuation – details for St. Lucia

6.6. Policy Applications Policy Applications Buccoo Reef exampleBuccoo Reef example

DiscussionDiscussion

BeautifulBeautiful

ValuableValuable

ThreatenedThreatened

Coastal developmentCoastal development Mangrove removalMangrove removal SewageSewage DredgingDredging RunoffRunoff TourismTourism OverfishingOverfishing Warming SeasWarming Seas

Influencing better Influencing better ManagementManagement

Economic Valuation is a tool to guide Economic Valuation is a tool to guide coastal planning, investment and coastal planning, investment and management in the long-term management in the long-term interest of local communities and the interest of local communities and the country country

Evaluating trade-offsEvaluating trade-offs

OPTIONSOPTIONS Development Development

optionsoptions Enforcement of Enforcement of

regulationsregulations Capping tourist Capping tourist

numbersnumbers Investing in Investing in

pollution controlpollution control

OUTCOMESOUTCOMES Revenue streams Revenue streams

from tourismfrom tourism Societal benefits Societal benefits

from reefsfrom reefs Ecosystem goods Ecosystem goods

and servicesand services

Economic Valuation of Coral Economic Valuation of Coral ReefsReefs

WRI (with partners) developed a coral WRI (with partners) developed a coral reef valuation methodology and reef valuation methodology and implemented valuations for the coral implemented valuations for the coral reefs of Tobago and St. Lucia. reefs of Tobago and St. Lucia.

The study evaluated the overall annual The study evaluated the overall annual

economic contribution of coral reef-economic contribution of coral reef-associated associated tourism and recreation, tourism and recreation, fisheries, and fisheries, and shoreline protection services. shoreline protection services.

Ecosystem ServicesEcosystem Services

Ecosystem goods (such as food) Ecosystem goods (such as food) and services (such as waste and services (such as waste assimilation) represent the assimilation) represent the benefits human populations benefits human populations derive, directly or indirectly, derive, directly or indirectly, from ecosystems. from ecosystems.

Ecosystem Services from Coral Ecosystem Services from Coral ReefsReefs

Provisioning Provisioning ServicesServices

--food – fish and food – fish and shellfish shellfish

-genetic resources-genetic resources

- natural medicines - natural medicines and and pharmaceuticalspharmaceuticals

-ornamental resources-ornamental resources

- building materials- building materials

Regulating Regulating ServicesServices

- carbon storage / - carbon storage / climate climate regulationregulation

--erosion controlerosion control

-storm protection-storm protection

Cultural Cultural ServicesServices

-spiritual and religious -spiritual and religious valuesvalues

-knowledge systems-knowledge systems/ educational values/ educational values

-inspiration-inspiration-aesthetic values-aesthetic values-social traditions -social traditions

-sense of place-sense of place

--recreation and ecotourismrecreation and ecotourism

Supporting Services Supporting Services -sand formation -primary production-sand formation -primary production

Ecosystem Services from Coral Ecosystem Services from Coral ReefsReefs

Provisioning Provisioning ServicesServices

--food – fish and food – fish and shellfish shellfish

-genetic resources-genetic resources

- natural medicines - natural medicines and and pharmaceuticalspharmaceuticals

-ornamental resources-ornamental resources

- building materials- building materials

Regulating Regulating ServicesServices

- - carbon storage / carbon storage / climate climate regulationregulation

--erosion controlerosion control

-storm protection-storm protection

Cultural Cultural ServicesServices

-spiritual and religious -spiritual and religious valuesvalues

-knowledge systems-knowledge systems/ educational values/ educational values

-inspiration-inspiration-aesthetic values-aesthetic values-social traditions -social traditions

-sense of place-sense of place

--recreation and ecotourismrecreation and ecotourism

Supporting Services Supporting Services -sand formation -primary production-sand formation -primary production

Non-Valued ServicesNon-Valued Services

Total Economic Value (TEV) would also Total Economic Value (TEV) would also include:include:

Other Use Values:Other Use Values: Research ValuesResearch Values Option Values (e.g. pharmaceutical)Option Values (e.g. pharmaceutical) Carbon storageCarbon storage

Non-Use ValuesNon-Use Values Bequest ValueBequest Value Existence ValueExistence Value

We focus on values that can be reliably

estimated using available data

Summary of ValuesSummary of Valuesfor St. Luciafor St. Lucia

Valuation Summary – Valuation Summary – Tourism and RecreationTourism and Recreation

Coral reef-associated Coral reef-associated tourism and recreationtourism and recreation – –

contributed between US$160 and $194 million to contributed between US$160 and $194 million to

the national economy in 2006. the national economy in 2006.

Valuation Summary – Valuation Summary – FisheriesFisheries

Coral reef-associated Coral reef-associated fisheriesfisheries ––

important for cultural tradition, safety net, and important for cultural tradition, safety net, and

livelihoodlivelihood

provide annual economic benefits estimated at provide annual economic benefits estimated at

between between US$0.5 – 0.8 million.US$0.5 – 0.8 million.

Valuation Summary – Valuation Summary – Shoreline ProtectionShoreline Protection

Shoreline Protection ServicesShoreline Protection Services of Coral Reefs of Coral Reefs ––

avoided erosion and storm damage from avoided erosion and storm damage from

waves valued between US$28 and $50 waves valued between US$28 and $50

million per year. million per year.

Valuation SummaryValuation Summary

Tourism and Recreation - Tourism and Recreation - US$160 to $194 million in US$160 to $194 million in 2006. 2006.

Coral reef-associated fisheries - Coral reef-associated fisheries - US$0.5 – 0.8 million / year US$0.5 – 0.8 million / year

Shoreline protection services –Shoreline protection services –US$28 and $50 million per US$28 and $50 million per year.year.

These are significant compared These are significant compared to St. Lucia’s GDP, which was to St. Lucia’s GDP, which was $825 million in 2005. $825 million in 2005.

Coral reefs provide other important values not estimated in this study, Coral reefs provide other important values not estimated in this study, and these numbers should be regarded as a lower bound estimate.and these numbers should be regarded as a lower bound estimate.

Annual Economic Contribution of Coral Reefs in St. Lucia

0

50

100

150

200

250

Tourism andRecreation

Fisheries ShorelineProtection

US$

mill

ion

High estimate

Low estimate

Coral Reefs – economically Coral Reefs – economically important to St. Luciaimportant to St. Lucia

Valuation can highlight:Valuation can highlight: Significant contribution to GDPSignificant contribution to GDP Taxes paid to governmentTaxes paid to government Jobs and wages dependent on coral reefsJobs and wages dependent on coral reefs Value of social safety netValue of social safety net

Supports: Supports: Coastal Planning (shoreline protection Coastal Planning (shoreline protection

analysis)analysis) Evaluation of trade-offsEvaluation of trade-offs

Economic Valuation Economic Valuation applicationsapplications

Estimate Economic Contribution to GDP Estimate Economic Contribution to GDP

Compare benefits of development / management Compare benefits of development / management options options

Encourage increased investment in coastal Encourage increased investment in coastal management / MPAs / fisheries managementmanagement / MPAs / fisheries management

Identify sources of support for management / Identify sources of support for management / policy / protected areaspolicy / protected areas

Set fees, such as visitor feesSet fees, such as visitor fees

Damage assessmentDamage assessment

Comparing “reef-dependence” Comparing “reef-dependence”

St. Lucia - specific examplesSt. Lucia - specific examples To guide future development, including evaluating To guide future development, including evaluating

the changes resulting from marina development on east and the changes resulting from marina development on east and west coasts west coasts

The benefits of investing in improved sewage treatmentThe benefits of investing in improved sewage treatment

Guide the management planning for SMMA or Point Guide the management planning for SMMA or Point SabelSabel

Examine changes in fisheries management and the Examine changes in fisheries management and the impact on short-term livelihoods versus long-term impact on short-term livelihoods versus long-term benefitsbenefits

To evaluate tourism carrying capacity and potential To evaluate tourism carrying capacity and potential revenue revenue

To estimate loss of local use of beaches due to developmentTo estimate loss of local use of beaches due to development

EV Project CharacteristicsEV Project Characteristics

1.1. Develop method which is simple and replicable Develop method which is simple and replicable

2.2. Rely predominantly on existing, available dataRely predominantly on existing, available data

3.3. Develop a tool to guide valuation and apply to Develop a tool to guide valuation and apply to policy questions.policy questions.

4.4. Produce coral reef valuation estimates for 2 Produce coral reef valuation estimates for 2 pilot areas (Tobago and St. Lucia) pilot areas (Tobago and St. Lucia)

5.5. Estimate likely economic loss due to coral reef Estimate likely economic loss due to coral reef degradationdegradation

Valuation – Main Valuation – Main ComponentsComponents

Tourism Tourism Method: Financial Analysis Method: Financial Analysis (Net revenues plus transfers)(Net revenues plus transfers)

Fisheries Fisheries Method: Financial Analysis Method: Financial Analysis (Net revenues plus transfers)(Net revenues plus transfers)

Shoreline ProtectionShoreline ProtectionMethod: “Avoided Damages” Method: “Avoided Damages”

ChallengesChallenges

Distinguishing the coral-reef Distinguishing the coral-reef associated benefitsassociated benefits TourismTourism Fisheries Fisheries Shoreline protectionShoreline protection

Valuing “local use”Valuing “local use” Secondary (indirect) economic impactsSecondary (indirect) economic impacts

Tourism ComponentsTourism Components

AccommodationAccommodation Reef Recreation – DivingReef Recreation – Diving Reef Recreation – SnorkelingReef Recreation – Snorkeling Marine Park RevenuesMarine Park Revenues Misc. Expenses (e.g., departure taxes, Misc. Expenses (e.g., departure taxes,

visitor expenditure)visitor expenditure) Local Use Local Use Indirect economic effects Indirect economic effects

Tourism Valuation issuesTourism Valuation issues

1.1. Identifying “coastal” visitorsIdentifying “coastal” visitors

2.2. Quantifying reef recreationQuantifying reef recreation

3.3. Getting accurate MPA visitation Getting accurate MPA visitation numbersnumbers

4.4. Estimating labor and other Estimating labor and other operating costsoperating costs

Tourism and Recreation Tourism and Recreation Valuation AssumptionsValuation Assumptions

25% of visitors come to St. Lucia in 25% of visitors come to St. Lucia in part due to the reefs.part due to the reefs.

Non-labor operating costs – about Non-labor operating costs – about 40%40%

Tourism Valuation for St. LuciaTourism Valuation for St. Lucia

Coral Reef-associated: ($US million)

Accommodation ValueAccommodation Value $64.7




Reef Recreation – Diving Reef Recreation – Diving $4.9

Reef Recreation – Snorkeling Reef Recreation – Snorkeling $0.8






Marine Park Revenues Marine Park Revenues $0.1







Misc. Visitor Expenses Misc. Visitor Expenses $21.2








Total Direct ImpactTotal Direct Impact $91.6









(11% of GDP)









Indirect economic ImpactIndirect economic Impact ** $68 – 102










Total Direct & Indirect ImpactTotal Direct & Indirect Impact US$160 – 194 million











Consumer SurplusConsumer Surplus $2.2 – 2.4











Consumer SurplusConsumer Surplus $2.2 – 2.4

Local Use Local Use $52 – 109

Local Reef Use SurveyLocal Reef Use Survey

Commissioned a survey Commissioned a survey through the University of through the University of West Indies / Sustainable West Indies / Sustainable Economic Development Economic Development Unit / Government of St. Unit / Government of St. Lucia, Department of Lucia, Department of StatisticsStatistics

300 people surveyed in 6 300 people surveyed in 6 locations in St. Lucia locations in St. Lucia (Soufriere, (Soufriere, Vieux Fort, Anse La Raye, Castries Vieux Fort, Anse La Raye, Castries town, Gros Islet, Dennery/Micoud) town, Gros Islet, Dennery/Micoud)

Designed to measure local Designed to measure local use of beaches and reefs as use of beaches and reefs as well as recreational and well as recreational and subsistence fishing subsistence fishing

Fisheries ComponentsFisheries Components

Commercial FisheriesCommercial Fisheries

Fish Processing and CleaningFish Processing and Cleaning

Local Use (fishing)Local Use (fishing)

Indirect economic effects Indirect economic effects

Focus on reef-associated species – snapper, grouper, wrasse, grunts, squirrelfish, parrot fish, and lobster.

Fisheries Valuation IssuesFisheries Valuation Issues

1.1. Limited data on local useLimited data on local use

2.2. Focus on economic impact – does Focus on economic impact – does not fully capture social values.not fully capture social values.

Commercial Fishing in St. Commercial Fishing in St. Lucia Lucia

Estimate derived from two Estimate derived from two approaches – approaches –

1.1. reef fish productivityreef fish productivity

2.2. recorded landings recorded landings

a) Reef Fish Productivitya) Reef Fish Productivity

Reef Area: 33 kmReef Area: 33 km22 (from this project)(from this project)

Estimated fish productivity rate: Estimated fish productivity rate: range of 1 to 5 MT of fish / kmrange of 1 to 5 MT of fish / km22 of of coral reefcoral reef

Potential sustainable harvest of Potential sustainable harvest of 73,000 to 363,000 lb of reef fish73,000 to 363,000 lb of reef fish

b) Landings recorded b) Landings recorded

9 landing sites9 landing sites

Fisheries Dept. data for 2002-2004Fisheries Dept. data for 2002-2004

PricesPrices Pot fish = EC$10 (US$3.75)Pot fish = EC$10 (US$3.75) Lobster = EC$25 (US$9.00)Lobster = EC$25 (US$9.00) Sea Urchin = EC$50 (US$18.00)Sea Urchin = EC$50 (US$18.00)

Average Fish Landings Average Fish Landings 2002-042002-04

Pounds Value ($US) Percent of Value

Squirrelfish 13,459 $50,788 7.3%

Snapper 44,995 $169,795 24.5%

Grouper 8,244 $31,108 4.5%

Parrotfish 9,930 $35,445 5.1%

Total for finfish 76,628 $287,137 41.4%

Lobster 29,000 $273,585 39.5%

Sea Urchin 7,251 $132,538 19.1%

Grand Total 112,879 $693,260* 100.0%

Fisheries Valuation for St. LuciaFisheries Valuation for St. Lucia

Coral Reef-associated: ($US thousand)

Commercial Fisheries – Gross Revenue $515 - 772

N.L. Operating Costs (25%) $129 – 193

Commercial Fisheries – Net Revenue $386 – 579

Fish cleaning and processing $51 – 77

Total Direct ImpactTotal Direct Impact $437 – 656








Indirect economic ImpactIndirect economic Impact $82 – 185









Total Direct & Indirect ImpactTotal Direct & Indirect Impact $520 – 841









Total Direct & Indirect ImpactTotal Direct & Indirect Impact $520 – 841

Local (non-commercial) fishing $155 - 790

Shoreline Protection Shoreline Protection ServicesServices

Innovative method for isolating the role Innovative method for isolating the role of coral reefs and integrating of coral reefs and integrating economics economics

Map outputs – Map outputs –

Shoreline protected by coral reefsShoreline protected by coral reefs

Areas vulnerable to waves \ storm damageAreas vulnerable to waves \ storm damage

Relative contribution of reefs to shoreline Relative contribution of reefs to shoreline protectionprotection

Shoreline Protection Shoreline Protection Valuation Valuation

Potential Valuation Methods:Potential Valuation Methods:

Replacement CostReplacement Cost

Avoided DamagesAvoided Damages

Physical FactorsPhysical Factors

Physical factors affecting the protection Physical factors affecting the protection afforded by a coral reef: afforded by a coral reef:

orientation of the coast (windward / leeward; orientation of the coast (windward / leeward; high energy or low energy coast)high energy or low energy coast)

bathymetry / shoreline profile bathymetry / shoreline profile

shoreline shape (bay, headland)shoreline shape (bay, headland)

depth of the reef / geology (type of reef)depth of the reef / geology (type of reef)

distance the reef is from landdistance the reef is from land

Complex AnalysisComplex Analysis

IMA developed shoreline protection IMA developed shoreline protection framework - rules for how much framework - rules for how much protection the reef affords this protection the reef affords this coastline situation.coastline situation.

Can be adapted for climate Can be adapted for climate scenariosscenarios

Shoreline Protection Analysis Shoreline Protection Analysis (5 Steps)(5 Steps)

1.1. Identify vulnerable areasIdentify vulnerable areas

2.2. Identify areas protected by coral Identify areas protected by coral reefsreefs

3.3. Evaluate the relative protection Evaluate the relative protection provided by reefsprovided by reefs

4.4. Incorporate property valuesIncorporate property values

5.5. Combine to evaluate potential Combine to evaluate potential storm damage avoidedstorm damage avoided

4% of St. Lucia’s land area rated “vulnerable.”

44% of St. Lucia’s coastline is protected by coral reefs.

Shoreline Stability Factors Shoreline Stability Factors (from IMA)(from IMA)

1.1. Coastal Geomorphology Coastal Geomorphology 2.2. Coastal Geology Coastal Geology 3.3. Coastal Protection Structures Coastal Protection Structures 4.4. Wave EnergyWave Energy5.5. Storm/Hurricane Events Storm/Hurricane Events 6.6. Coral Reef Index (Reef type, continuity, Coral Reef Index (Reef type, continuity,

distance offshore) distance offshore) 7.7. Coastal ElevationCoastal Elevation8.8. Coastal SlopeCoastal Slope9.9. Coastal VegetationCoastal Vegetation10.10. Anthropogenic ActivitiesAnthropogenic Activities

FactorFactorCoastal Protection Scheme (from IMA)Coastal Protection Scheme (from IMA)

Very HighVery High44

HighHigh33

MediumMedium22

LowLow11

NoneNone00

Coastal GeomorphologyCoastal Geomorphology Rocky, Cliffed Rocky, Cliffed CoastlineCoastline

Soft (Limestone) Soft (Limestone) Cliffs or Low BluffsCliffs or Low Bluffs

MangrovesMangroves BeachesBeaches N/AN/A

Coastal GeologyCoastal Geology Igneous and/or Igneous and/or VolcanicVolcanic

MetamorphicMetamorphic SedimentarySedimentaryUnconsolidated Unconsolidated

SedimentsSedimentsN/AN/A

Coastal Protection StructuresCoastal Protection StructuresProtected by 2 Protected by 2

prominent headlands prominent headlands and breakwaterand breakwater

Protected by 2 Protected by 2 prominent headlandsprominent headlands

Seawalls, Riprap or Seawalls, Riprap or BreakwatersBreakwaters

Protected by one or Protected by one or two small headlandstwo small headlands

No protection by No protection by headlands headlands

Wave Energy (~ Max. Wave Wave Energy (~ Max. Wave Height [cm])Height [cm])

< 20< 20 20 - 4020 - 40 40 - 6040 - 60 >60>60 N/AN/A

Coral ReefsCoral Reefs Reef TypeReef Type Reef DistributionReef Distribution Reef Distance (m)Reef Distance (m)

Barrier Barrier N/AN/A< 250< 250

PatchPatchN/AN/A250 - 500250 - 500

FringeFringeContinuousContinuous500 - 1000500 - 1000

ApronApronDiscontinuousDiscontinuous> 1000> 1000

No reef presentNo reef presentNo reef presentNo reef presentNo reef presentNo reef present

Storm/Hurricane EventsStorm/Hurricane Events Affected by 1-5 TS Affected by 1-5 TS every 10 yearsevery 10 years

Affected by at least 5 Affected by at least 5 TS every 10 yearsTS every 10 years

Affected by at least a Affected by at least a category 1 every 25 category 1 every 25

yearsyears

Affected by at least a Affected by at least a category 3 every 25 category 3 every 25

yearsyearsN/AN/A

Coastal Elevation (m)Coastal Elevation (m) > 12> 12 5 - 125 - 12 1 - 51 - 5 0 - 10 - 1 < 0 (N/A) **< 0 (N/A) **

Coastal Slope (%)Coastal Slope (%) 6.2 – 9.76.2 – 9.7 2.6 – 6.22.6 – 6.2 1.1 – 2.61.1 – 2.6 0.4 – 1.10.4 – 1.1 N/AN/A

Coastal Vegetation *Coastal Vegetation * TypeType DistributionDistribution

MangrovesMangroves> 75 % length of > 75 % length of coastlinecoastline

Coastal WoodlandsCoastal Woodlands50% - 75 % of length 50% - 75 % of length

ThicketThicket25% - 50 % of length 25% - 50 % of length

RunnersRunners< 25% length of < 25% length of coastlinecoastline

NoneNoneNo VegetationNo Vegetation

Coastal Anthropogenic ActivitiesCoastal Anthropogenic ActivitiesNo sand mining, No sand mining,

coastal development, coastal development, etc. etc.

Misc. Other ActivitiesMisc. Other ActivitiesEither sand mining or Either sand mining or coastal developmentcoastal development

Sand mining and Sand mining and coastal developmentcoastal development

N/AN/A

Stability Factors used in St. Lucia Stability Factors used in St. Lucia AnalysisAnalysis

1.1. Coastal Geomorphology Coastal Geomorphology 2.2. Coastal Geology Coastal Geology 3.3. Wave EnergyWave Energy4.4. Storm/Hurricane Events Storm/Hurricane Events 5.5. Coral Reef Index (Reef type, continuity, Coral Reef Index (Reef type, continuity,

distance offshore) distance offshore) 6.6. Coastal ElevationCoastal Elevation7.7. Coastal SlopeCoastal Slope8.8. Coastal VegetationCoastal Vegetation

Not AvailableNot Available1.1. Coastal Protection StructuresCoastal Protection Structures2.2. Anthropogenic ActivitiesAnthropogenic Activities

3a. Relative Total Coastal 3a. Relative Total Coastal Protection (RTCP)Protection (RTCP)

With reef presentWith reef present Without reefWithout reef

Potentially Avoided Potentially Avoided DamagesDamages

Estimated based on property values in Estimated based on property values in “vulnerable areas” which are “vulnerable areas” which are “protected by a reef,” based on the “protected by a reef,” based on the “relative reef contribution” for that “relative reef contribution” for that area.area.

St. Lucia – property values estimated St. Lucia – property values estimated

at US$25 - 30 per square foot at US$25 - 30 per square foot

Relative reef contribution applied at +/- 20%, Relative reef contribution applied at +/- 20%, reflecting some uncertainty.reflecting some uncertainty.

Shoreline Protection Shoreline Protection Summary – Summary –

St. LuciaSt. Lucia St. LuciaSt. Lucia

Land Area (sq km)Land Area (sq km) 610 km2610 km2

Vulnerable Land Area (sq km)Vulnerable Land Area (sq km) 24.5 km224.5 km2 4%4%

Vulnerable Area Protected by reefs (sq km)Vulnerable Area Protected by reefs (sq km) 10 km210 km2 1.5%1.5%

Shoreline length Protected by ReefsShoreline length Protected by Reefs44%44%

Average Property Value (US$)Average Property Value (US$) US $25 - 30US $25 - 30

Potentially Avoided Damages Potentially Avoided Damages (2007)(2007)

US $28 – 50 millUS $28 – 50 mill

Shoreline Protection Shoreline Protection Summary – Summary –

St. LuciaSt. Lucia

St. LuciaSt. Lucia

Potentially Avoided Damages Potentially Avoided Damages (2007)(2007)

US $28 – 50 millUS $28 – 50 mill

Potentially Avoided Damages Potentially Avoided Damages (over 25 years)(over 25 years)

US $700 million - US $700 million - $1.2 Billion$1.2 Billion

Summary of Values for St. Summary of Values for St. LuciaLucia

Coral Reef-associated : ($US million / yr)

Tourism and Recreation – Total Direct Impact $91.6 million

Tourism and Recreation – Total economic Impact $160 – 194 million

Fisheries – economic Impact $0.5 – 0.8 million

Shoreline Protection Services $28 – 50 million

Policy Exploration – Buccoo Policy Exploration – Buccoo ReefReef

Tourist DestinationTourist Destination Environmental Environmental

issues issues water qualitywater quality overfishingoverfishing reef condition reef condition

BRMP - BRMP - enforcementenforcement

Management Options – Buccoo Management Options – Buccoo ReefReef

Enforcement of no-Enforcement of no-fishing regulationsfishing regulations

Re-routing of storm Re-routing of storm draindrain

Integrated Integrated watershed watershed managementmanagement

Sewage treatmentSewage treatment

Economic Value – Buccoo Economic Value – Buccoo ReefReef

Glass-bottom / snorkel Glass-bottom / snorkel Tours –US$1.4 mill / yrTours –US$1.4 mill / yr

Tourism Tourism US$7-8 million / yr US$7-8 million / yr US$128 – 156 million over US$128 – 156 million over

25 years25 years Shoreline protection - Shoreline protection -

US$140-250 million over US$140-250 million over 25 years 25 years

Policy Recommendations for Policy Recommendations for

St. LuciaSt. Lucia Improve mapping and monitoring of coral Improve mapping and monitoring of coral

reefs and mangroves reefs and mangroves Maintain coastal mangroves Maintain coastal mangroves Monitor and improve coastal water Monitor and improve coastal water

quality quality Monitor marine recreation and manage Monitor marine recreation and manage

within sustainable limitswithin sustainable limits Use the coral reef valuation methodology Use the coral reef valuation methodology

and Tool to track the economic and Tool to track the economic contribution of coral reefs over time contribution of coral reefs over time

Available online at www.buccooreef.org andwww.wri.org/project/valuation-caribbean-reefs

Contacts: WRI –Lauretta Burke, +1 (202) 729 7774, [email protected] Gov StL – LaVerne Walker [email protected] IMA – Sean Paddy, (868) 634 4291 x405, [email protected]

http://www.buccooreef.org/

http://www.wri.org/project/valuation-caribbean-reefs

mailto:[email protected]



Economic Valuation of Coral Reefs in St. Lucia –

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