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 health of Tobago’s reefs is vital to the island’s
tourism product,” said Cmdre. Anthony Franklin, director of the
Institute of Marine Affairs. “Tourists and local residents
should benefit greatly in the future because of the advances
these economic baseline findings could provide towards smart
policies.” The findings were announced here today along with the
release of the full study, Coastal Capital - Economic Valuation
of Coral Reefs in Tobago and St. Lucia, by the World Resources
Institute (WRI), the Buccoo Reef Trust (BRT), the Institute of
Marine Affairs, the Government of St. Lucia, and many others.
“Hopefully, knowing the economic value of the reefs will help
policymakers develop and manage these beautiful and beneficial
coastal areas with cau