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Document Sample
Economic Valuation of Coral
Reefs in Tobago –
June 13, 2008
Tobago
Lauretta Burke
World
Resources
Institute
Project Partners Include
Trinidad and Tobago Saint Lucia
Buccoo Reef Trust Government of Saint Lucia
T&T Institute of Marine Affairs
(IMA)
Regional Partners
Tobago House of Assembly
(THA) / Policy Research University of the West Indies
Development Institute (PRDI) (UWI) / Sustainable Economic
Development Unit (SEDU)
T&T Central Statistics Office
(CSO) Caribbean Natural Resources
Institute (CANARI)
T&T Environmental
Management Agency (EMA)
Environment Tobago and SOS
Financial Support
Macarthur
Foundation
Ocean Foundation
Henry Foundation
Munson Foundation
Dutch Ministry of
Foreign Affairs
SwedBio
International Coral
Reef Action Network
(ICRAN)
Buccoo Reef Trust
Beautiful
Valuable
Threatened
Coastal development
Mangrove removal
Sewage
Dredging
Runoff
Tourism
Overfishing
Warming Seas
Influencing Better Management
Economic Valuation is a tool to guide
coastal planning, investment and
management in the long-term interest of
local communities and the country
Evaluating trade-offs
OPTIONS OUTCOMES
Development options Revenue streams
Enforcement of from tourism
regulations Societal benefits from
Capping tourist reefs
numbers Ecosystem goods and
Investing in pollution services
control
Economic Valuation of Coral Reefs
WRI (with partners) developed a coral reef
valuation methodology and implemented
valuations for the coral reefs of Tobago and
St. Lucia.
The study evaluated the overall annual
economic contribution of coral reef-
associated
tourism and recreation,
fisheries, and
shoreline protection services.
Ecosystem Services from Coral Reefs
Provisioning Regulating Cultural
Services Services Services
-food – fish and - carbon storage / -spiritual and religious
shellfish climate values
regulation
-genetic resources -knowledge systems
-erosion control / educational values
- natural medicines
and -storm protection -inspiration
pharmaceuticals -aesthetic values
-social traditions
-ornamental resources -sense of place
- building materials -recreation and ecotourism
Supporting Services -sand formation -primary production
Ecosystem Services from Coral Reefs
Provisioning Regulating Cultural
Services Services Services
-food – fish and - carbon storage / -spiritual and religious
shellfish climate values
regulation
-genetic resources -knowledge systems
-erosion control / educational values
- natural medicines
and -storm protection -inspiration
pharmaceuticals -aesthetic values
-social traditions
-ornamental resources -sense of place
- building materials -recreation and ecotourism
Supporting Services -sand formation -primary production
Non-Valued Services
Total Economic Value (TEV) would also include:
Other Use Values:
Research Values
Option Values (e.g. pharmaceutical)
Carbon storage
Non-Use Values
We focus on values
Bequest Value that can be reliably
Existence Value estimated using
available data
Summary of Values
Valuation Summary
Coral reef-associated tourism and recreation –
contributed between US$100 and $130 million to
the national economy in 2006.
Photo: BRT
Valuation Summary
Coral reef-associated fisheries –
important for cultural tradition, safety net, and livelihood
provide annual economic benefits estimated at between
US$0.8 – 1.3 million.
Photo: BRT
Valuation Summary
Shoreline Protection Services of Coral Reefs –
avoided erosion and storm damage from waves
valued between US$18 and $33 million per year.
Valuation Summary
Tourism and Recreation - Annual Economic Contribution of Coral Reefs in Tobago
US$100 to $130 million in 2006.
140
Coral reef-associated fisheries - 120
US$0.8 – 1.3 million / year 100
US$ million
Shoreline protection services – 80
High estimate
US$18 and $33 million per year. 60
Low estimate
40
20
These are significant compared 0
to Tobago’s GDP, which was
Tourism and Fisheries Shoreline
Recreation Protection
$286 million in 2006.
Coral reefs provide other important values not estimated in this study,
and these numbers should be regarded as a lower bound estimate.
Coral Reefs – Economically
Important to Tobago
Valuation can highlight:
Significant contribution to GDP
Taxes paid to government
Jobs and wages dependent on coral reefs
Value of social safety net
Supports:
Coastal Planning (shoreline protection
analysis)
Evaluation of trade-offs
Economic Valuation applications
Estimate Economic Contribution to GDP
Compare benefits of development /
management options
Encourage increased investment in coastal
management / MPAs / fisheries management
Identify sources of support for management /
policy / protected areas
Set fees, such as visitor fees
Damage assessment
Tobago-specific examples
Evaluate the costs and benefits of investing in more
active management of Buccoo Reef Marine Park
Evaluating the benefits of investment in improved
sewage treatment in SW Tobago
Examine changes in fisheries management and the
impact on short-term livelihoods versus long-term
benefits
Comparing the benefits of consumptive vs. non-
consumptive use of sea turtles
Econ Val Project Characteristics
1. Develop method which is simple and replicable
2. Rely predominantly on existing, available data
3. Produce coral reef valuation estimates for two
pilot areas (Tobago and St. Lucia)
4. Estimate likely economic loss due to coral reef
degradation
Valuation – Main Components
Tourism
Method: Financial Analysis
(Net revenues plus transfers)
Fisheries
Method: Financial Analysis
(Net revenues plus transfers)
Shoreline Protection
Method: “Avoided Damages”
Tourism Components
Accommodation
Reef Recreation – Diving
Reef Recreation – Snorkeling
Marine Park Revenues
Misc. Expenses (e.g., departure taxes, visitor
expenditure)
Local Use
Indirect economic effects
Tourism Valuation issues
1. Identifying “coastal” visitors
2. Quantifying reef recreation
3. Getting accurate MPA visitation numbers
4. Tobago-specific data
Tourism and Recreation
Valuation Assumptions
40% of visitors come to Tobago in part
due to the reefs.
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
(15% of GDP)
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
Indirect economic Impact ** $58 – 72
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
Indirect economic Impact ** $58 – 72
Total Direct & Indirect Impact US$101 – 130 million
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
Indirect economic Impact ** $58 – 72
Total Direct & Indirect Impact US$101 – 130 million
Consumer Surplus $1
Tourism Valuation for Tobago
Coral Reef-associated: ($US million)
Accommodation Value $24.7
Reef Recreation – Diving $1.3
Reef Recreation – Snorkeling $1.5
Marine Park Revenues n.a.
Misc. Visitor Expenses $16.0
Total Direct Impact $43.5
Indirect economic Impact ** $58 – 72
Total Direct & Indirect Impact US$101 – 130 million
Consumer Surplus $1
Local Use $13 – 44
Local Reef Use Survey
Commissioned a survey through the
University of West Indies / Sustainable
Economic Development Unit / Government
of St. Lucia, Department of Statistics
300 people surveyed in 6 locations in
Tobago (Reef - Buccoo, Pigeon Point, and Speyside, and
non-reef - Mt. Pleasant, Roxborough, and Patience Hill)
Designed to measure local use of beaches
and reefs as well as recreational and
subsistence fishing
Fisheries Components
Commercial Fisheries
Fish Processing and Cleaning
Local Use (fishing)
Indirect economic effects
Focus on reef-associated species – snapper,
grouper, grunts, squirrelfish, parrot fish, lobster
and conch.
Fisheries Valuation Issues
1. Lack of meaningful data on fish landings
2. Limited data on sales and exports
3. Limited data on local use
4. Focus on economic impact – does not
fully capture social values.
Commercial Fishing in Tobago
Estimate derived from two approaches –
1. reef fish productivity
2. estimated pot fishing effort
Coral reefs are over-fished Tobago /
productivity is declining
a) Reef Fish Productivity
Reef Area: 30 km2 (from this project)
Estimated fish productivity rate: range of
2 to 5 MT of fish / km2 of coral reef
Potential sustainable harvest of 130,000
to 330,000 lb of reef fish
b) Landings based on boats
16 boats doing pot fishing, average 105
trips per year, landing an average of 150 -
200 lbs per trip
This leads to an estimated 250,000 -
336,000 lbs of fish caught. (Comparable to
the maximum productivity estimate)
Average Price of pot fish = TT$15 ($2.50
US), leads to gross value of catch of
US$630,000 - 840,000.
b) Landings based on boats (cont.)
We assume an additional 15,000 - 20,000 lbs of
lobster caught (and US$7 per pound for lobster) so
US$106,000 - 140,000
Total Gross revenue = US$735,000 - 981,000.
Fisheries Valuation for Tobago
Coral Reef-associated: ($US thousand)
Commercial Fisheries – Gross Revenue $736 - 981
N.L. Operating Costs (25%) $184 – 245
Commercial Fisheries – Net Revenue $552 - 736
Fisheries Valuation for Tobago
Coral Reef-associated: ($US thousand)
Commercial Fisheries – Gross Revenue $736 - 981
N.L. Operating Costs (25%) $184 – 245
Commercial Fisheries – Net Revenue $552-736
Fish cleaning and processing $88-177
Total Direct Impact $640-913
Fisheries Valuation for Tobago
Coral Reef-associated: ($US thousand)
Commercial Fisheries – Gross Revenue $736 - 981
N.L. Operating Costs (25%) $184 – 245
Commercial Fisheries – Net Revenue $552-736
Fish cleaning and processing $88-177
Total Direct Impact $640-913
Indirect economic Impact $118-235
Total Direct & Indirect Impact $758 – 1,148
Shoreline Protection Services
Innovative method for isolating the role of
coral reefs and integrating economics
Map outputs –
Shoreline protected by coral reefs
Areas vulnerable to waves \ storm damage
Relative contribution of reefs to shoreline
protection
Physical Factors
Physical factors affecting the protection afforded
by a coral reef:
orientation of the coast (windward / leeward; high
energy or low energy coast)
bathymetry / shoreline profile
shoreline shape (bay, headland)
depth of the reef / geology (type of reef)
distance the reef is from land
Complex Analysis
IMA developed shoreline protection
framework - rules for how much
protection the reef affords this coastline
situation.
Can be adapted for climate scenarios
Shoreline Protection Analysis
(5 Steps)
1. Identify vulnerable areas
2. Identify areas protected by coral reefs
3. Evaluate the relative protection
provided by reefs
4. Incorporate property values
5. Combine to evaluate potential storm
damage avoided
1.
6% of Tobago’s land area rated “vulnerable.
2.
Reef Protection
0 Not protected by reef 51%
2 Within 100 m of fringing reef 45%
3 Protected by Barrier Reef 4%
Shoreline Stability Factors (from IMA)
1. Coastal Geomorphology
2. Coastal Geology
3. Coastal Protection Structures
4. Wave Energy
5. Storm/Hurricane Events
6. Coral Reef Index (Reef type, continuity, distance
offshore)
7. Coastal Elevation
8. Coastal Slope
9. Coastal Vegetation
10. Anthropogenic Activities
Coastal Protection Scheme (from IMA)
Factor Very High High Medium Low None
4 3 2 1 0
Rocky, Cliffed Soft (Limestone)
Coastal Geomorphology Coastline Cliffs or Low Bluffs
Mangroves Beaches N/A
Igneous and/or Unconsolidated
Coastal Geology Volcanic
Metamorphic Sedimentary
Sediments
N/A
Protected by 2
Protected by 2 Seawalls, Riprap or Protected by one or No protection by
Coastal Protection Structures prominent headlands
prominent headlands Breakwaters two small headlands headlands
and breakwater
Wave Energy (~ Max. Wave
< 20 20 - 40 40 - 60 >60 N/A
Height [cm])
Coral Reefs Barrier Patch Fringe Apron No reef present
Reef Type N/A N/A Continuous Discontinuous No reef present
Reef Distribution < 250 250 - 500 500 - 1000 > 1000 No reef present
Reef Distance (m)
Affected by at least a Affected by at least a
Affected by 1-5 TS Affected by at least 5
Storm/Hurricane Events every 10 years TS every 10 years
category 1 every 25 category 3 every 25 N/A
years years
Coastal Elevation (m) > 12 5 - 12 1-5 0-1 < 0 (N/A) **
Coastal Slope (%) 6.2 – 9.7 2.6 – 6.2 1.1 – 2.6 0.4 – 1.1 N/A
Coastal Vegetation * Mangroves
Coastal Woodlands Thicket
Runners
None
Type > 75 % length of < 25% length of
50% - 75 % of length 25% - 50 % of length No Vegetation
Distribution coastline coastline
No sand mining,
Either sand mining or Sand mining and
Coastal Anthropogenic Activities coastal development, Misc. Other Activities
coastal development coastal development
N/A
etc.
Stability Factors used in Tobago Analysis
1. Coastal Geomorphology
2. Coastal Geology
3. Wave Energy
4. Storm/Hurricane Events
5. Coral Reef Index (Reef type, continuity, distance
offshore)
6. Coastal Elevation
Not Available
1. Coastal Vegetation
2. Coastal Slope
3. Coastal Protection Structures
4. Anthropogenic Activities
3a. Relative Total Coastal
Protection (RTCP)
With reef present Without reef
3b.
3b.
Potentially Avoided Damages
Estimated based on property values in
“vulnerable areas” which are “protected by
a reef,” based on the “relative reef
contribution” for that area.
Tobago – property values estimated at
US$18 – 22 per square foot
Shoreline Protection Summary –
Tobago
Tobago
Land Area (sq km) 300 km2
Vulnerable Land Area (sq km) 19 km2 6%
Vulnerable Area Protected by reefs (sq km) 9 km2 3%
49%
Shoreline length Protected by Reefs
US $18 - $22
Average Property Value (US$)
Potentially Avoided Damages US $18 – 33 mill
(annual average)
Shoreline Protection Summary –
Buccoo
Buccoo
30% of
Potentially Avoided Damages US $5 – 10 mill Tobago
(2007) Total
Potentially Avoided Damages US $140 – 250
(over 25 years) million
Summary of Values for Tobago
Coral Reef-associated : ($US million / yr)
Tourism and Recreation –
Total Direct Impact $43.5 million
Tourism and Recreation –
Total economic Impact $100 – 130 million
Fisheries – economic Impact ~ $1 million
Shoreline Protection Services $18 – 33 million
Policy Exploration – Buccoo Reef
Tourist Destination
Environmental issues
water quality
overfishing
reef condition
BRMP - enforcement
Management Options – Buccoo Reef
Enforcement of no-
fishing regulations
Re-routing of storm
drain
Integrated watershed
management
Sewage treatment
Economic Value – Buccoo Reef
Glass-bottom / snorkel
Tours –US$1.4 mill / yr
Tourism
US$7-8 million / yr
US$128 – 156 million over 25
years
Shoreline protection -
US$140-250 million over 25
years
Policy Recommendations for
Tobago
Improve coastal water quality
Maintain coastal mangroves
Establish an entrance fee to BRMP and
use revenue for park management
Monitor marine recreation and manage
within sustainable limits
Improve mapping and monitoring of coral
reefs and mangroves
Policy Recommendations for
Tobago (continued)
Improve fishing survey design, data
collection and information management at
THA to allow tracking of fishing effort and
catch over time
Monitor sea turtle populations – manage
sustainably
Use the coral reef valuation methodology
and Tool to track the economic
contribution of coral reefs over time
Available online at www.buccooreef.org and
www.wri.org/project/valuation-caribbean-reefs
Contacts:
WRI –Lauretta Burke, +1 (202) 729 7774, lauretta@wri.org
BRT – Hyacinth Armstrong, +868 635 2000,
h.armstrong@buccooreef.org
IMA – Sean Paddy, (868) 634 4291 x405, spaddy@ima.gov.tt
