Economic Values for Coral Reef Conservation and Restoration in Florida

Florida’s coral reef is the third-largest barrier reef system in the world and provides valuable ecosystem services, such as recreation and tourism, erosion protection, and other services. Florida’s reefs have been declining due to impacts from climate change, pollution, and other pressures. In response, various conservation strategies have been implemented, including education and outreach, growing corals in nurseries and transplanting them to degraded reef sites, and deploying artificial reefs. However, few studies have estimated an explicit value for different strategies to attain conservation goals. Understanding economic values for reef restoration and enhancement is needed to help inform decision-making and support marine policy. This study conducted a stated preference choice experiment survey to examine the way U.S. residents make economic trade-offs among different restoration strategies, including increasing coral cover, deploying artificial reefs, and limiting visitor access to reef sites. The results suggest that, on average, the economic value of increasing coral cover is about twice as high as the value of increasing the number of artificial reef sites. Economic values for reducing visitation were similar to values for increasing the number of artificial reefs. These results provide essential information to policy analysts concerning reef use, reef importance, and economic values for reef restoration.