Direct annual economic benefits of tourism and fisheries resulting from coral reefs amounts to US$94 million in St. Lucia and US$44 million in Tobago. Those numbers amount to 11 percent and 15 percent of those Caribbean islands’ yearly gross-domestic product.
The economic benefits derived from coral reefs are vital to the economies of small island states in the Caribbean. Economic valuation of these benefits helps to guide the wise, sustainable use of these resources.
Coral reefs are a vital part of the Caribbean’s marine environment, and are integral to the economies of many of the region’s small island states. WRI’s economic valuation methodology can help decision-makers in the region better understand the enormous economic value the reef provides and use this data to make better-informed coastal policy.