Bermuda's Coral Reefs provide $722 million in value per year
BREAM contributed our coral reef and fish data to aid in the Assessment of the Total Economic Value of Bermuda's Coral Reef ( click for executive summary ), described in the Bermuda Sun article ( link ) out Feb 4th ; and Royal Gazette article out Feb 5th ( link ) Bermuda Sun Feb. 4th 2010 Coral reefs worth an average of $722 million per year Economic benefits include tourism, fisheries and storm protection THURSDAY, FEB. 4: The Department of Conservation Services within the Ministry of the Environment and Sports today released a study on the Total Economic Value (TEV) of Bermuda's Coral Reefs which shows that the annual value of the coral reef ecosystem averages $722 million, potentially amounting to $1.1 billion per year. Bermuda's coral reefs provide substantial economic benefits through coastal protection from storms and hurricanes as well as supporting both the tourism industry and commercial and recreational fisheries. In short they are a fundamental contributor to a...