July 21, 2021
They re beautiful & contribute $375B to the world s economy!
On our 4th episode of the American Blue Economy Podcast, we explore coral reefs. Coral reefs contribute to the US economy through areas such as dive tourism (June’s episode), support to fisheries (August), and contributions to coastal resilience (November). By one estimate, coral reefs provide economic goods and services worth about $375 billion each year worldwide. NOAA suggests that coral reefs in southeast Florida, for example, have an asset value of $8.5 billion, generating $4.4 billion in local sales, $2 billion in local income, and 70,400 full and part-time jobs. Additionally, in the United States, about half of all federally managed fisheries depend on coral reefs. NOAA’s National Marine Fisheries Service estimates the annual commercial and recreational value of U.S. fisheries from coral reefs to be over $200 million. But their future is challenged by a variety of factors, including bleaching,