How Much Money Is Made Annually By Reef Tourism?

The Great Barrier Reef Marine Park’s tourism visitation for the 2022-23 financial year was reported at approximately 2.19 million total visitor days (2,193,585). This is up 63.6 on the seven-year pre-pandemic average of 2.45 million visits. Coral reef tourism is a critical, undervalued ecosystem service, with a novel approach using “big data” generating high resolution spatial maps of reef values. MOW’s research and innovative modeling reveals that 70 million trips are supported by the world’s coral reefs each year, making these reefs a powerful engine for tourism.

Crocar reefs in the APAC region directly contributed $25 billion annually on average over the years 2008–2012 to the region’s economy from fishing and tourism. The total values for all reef-associated tourism are estimated at over $7.9 billion of expenditure annually from more than 11 million visitors, with average values of $19 billion representing actual “on-reef” tourism like diving, snorkeling, and glass-bottom activities.

In COVID-free times, the travel and tourism sectors usually contribute around 10.4 to the global economy each year. Global coral reef tourism (pre-COVID) is a heavy-hitting contributor to this, with an annual value of $29 billion, followed by $23.8 billion from indirect or non-use value.

The economic contribution of tourism to coral reefs is estimated at $36 billion to the global economy each year, supporting millions of jobs in restaurants, hotels, tour operations, transportation companies, and more. The Great Barrier Reef contributed $6.4 billion in value added and over 64,000 jobs to the Australian economy in 2015-16.

How much money does tourism make at the Great Barrier Reef?

The Reef, with an estimated value of $5. 7 billion, is responsible for contributing $6. 4 billion to the Australian economy, with 90% of this figure derived from tourism.

Does tourism help or hurt the coral reef?

Corals are at risk due to tourism, which can cause stress and bleaching when corals are accidentally touched, polluted, or broken off. This process can lead to the death of corals and the loss of essential marine plant species like sea grass and mangroves. Sedimentation, caused by dirt and debris deposited into the ocean, pollutes marine ecosystems and blocks sunlight for photosynthesis, causing coral reefs to bleach and die. In Costa Rica, the tourism industry’s dredging, logging, agriculture, and coastal development contribute to sedimentation.

A study by biologist Jorge Cortés highlights the negative impacts of tourism on coral reefs in the Cauhita region of Costa Rica. Without better management principles, sedimentation will continue to devastate Pacific reefs.

How much money does the Great Barrier Reef make yearly?

The Great Barrier Reef, a World Heritage listed ecosystem, is home to a diverse array of coral and marine species, many of which are unique to Earth. It is deeply intertwined with Australia’s First Nations peoples’ history and contributes $6. 4 billion to the economy annually. The Queensland Government has committed over $1 billion since 2015 to protect the reef, focusing on improving land conditions, reducing water pollution, and removing harmful species like the coral-eating crown-of-thorns starfish.

The government is also working with communities and thousands of organizations and individuals to protect current and future generations from climate change impacts. However, more action is needed to increase the impact, and everyone can take action to make a difference.

How many tourists does the Great Barrier Reef attract each year?

Tourism is a major industry in the Great Barrier Reef region, with approximately 2. 19 million visitors each year. The region contributes $5. 89 billion to the Australian economy and employs around 69, 000 people. The Great Barrier Reef’s reputation as the most pristine coral reef on the planet is its key competitive advantage. The Great Barrier Reef Marine Park (GBRMPA) manages the area to minimize tourism impact, including permits for camping and commercial marine tourism. However, rising incidences of coral bleaching, coastal development, and tourism impacts have taken a toll on the reef’s biodiversity.

The earliest known tourism in the region took place on Green Island in the 1890s. Scientific field expeditions and visiting Aboriginal missions were briefly popular tourist activities, but missionaries disapproved of tourists giving money and goods to Aboriginals. Torres Strait Islanders relocated south to demonstrate turtle hunting and performed songs and dances for tourists.

In 1931, The Morning Bulletin called for increased awareness of tourism in the area, extolling game fish caught in the region. Tourism largely stopped during World War II. However, during the 1960s and 1970s, tourist numbers grew steadily, and transport improved. The remoteness of some parts of the Great Barrier Reef has naturally prevented access and human impacts.

How many people visit coral reefs?

Over 350 million people annually visit coral reef coasts worldwide, and mapping nature-dependent tourism presents challenges due to the complex interaction of history, culture, infrastructure, politics, and economics. Mapping Ocean Wealth has worked with others on novel approaches to draw information from social media and crowd-sourced databases to provide indicators of tourist activities. Tourism and recreation in coastal states and regions is often highly dependent on nature, including nature-based activities like diving on coral reefs, hiking, and bird-watching.

However, many aspects of travel or recreation, such as the pleasure of locally caught seafood, are not immediately apparent to nature. Destination choice is often shaped by images and views, with nature often being up front and central. The Nature Conservancy is breaking new ground in telling the full story of nature dependency in the tourism and recreation sector by mapping value for several aspects of nature dependency in a highly innovative project based across five nations in the Eastern Caribbean.

What is the value of the coral reef industry?

Coral reefs have been found to contribute, on average, $25. From 2008 to 2012, the APAC region’s economies received an estimated $1 billion annually from fishing and tourism alone. This equates to one in 1, 000 US dollars of total economic activity in the region. The study underscores the significance of coral reefs in the regional economy and underscores the necessity for conservation efforts.

What is the value of coral reef tourism?

Coral reef tourism represents a vital yet undervalued ecosystem service. A novel approach utilising large-scale data has yielded detailed spatial maps of reef values, with a global value of $36 billion per annum distributed between on-reef and reef-adjacent regions. This research is part of a larger initiative to enhance our comprehension of coral reefs and their associated ecosystems.

Is coral reef worth money?

Coral reefs are vital for commercial and subsistence fisheries, jobs, and businesses, with the commercial value of U. S. fisheries from coral reefs estimated at over $100 million. Local economies also receive billions of dollars from visitors to reefs through diving tours, recreational fishing trips, hotels, restaurants, and other businesses. However, coral reefs are severely threatened by pollution, disease, and habitat destruction, which reduce their ability to support the many creatures that inhabit them, resulting in a loss of value as a tourist destination.

How much is coral reef worth?

Coral reefs provide a net benefit of $29. 8 billion annually, with tourism and recreation accounting for $9. 6 billion, coastal protection for $9. 0 billion, fisheries for $5. 7 billion, and biodiversity for $5. 5 billion. These ecosystems are biologically rich, provide countless services to coastal communities, and are in need of protection and management. Coral reefs provide spawning and nursery grounds for economically important fish populations, protect coastal communities from storm surges and erosion from waves, which are likely to increase due to sea-level rise.

Coral reefs also provide millions of jobs through tourism, fishing, and recreational activities. They are Earth’s “medicine cabinet”, with many medicines derived from coral reef organisms, including antiviral drugs Ara-A and AZT and the life-saving anticancer agent Ara-C. Thousands of other useful compounds may still be undiscovered, but their survival depends on the reefs’ survival. Coral reefs are also important sites of cultural heritage, with cultural traditions for millions of people deeply tied to them.

What is the most visited coral reef?

Reefs, exemplified by the Great Barrier Reef in Australia, can be conceptualized as underwater cities, teeming with diverse marine life, including vibrant corals. However, the detrimental effects of global warming and ocean acidification are causing irreparable damage to these reefs, resulting in the loss of their vibrant hues and even the eradication of entire sections. Notwithstanding the aforementioned challenges, there are still numerous reefs that remain in a healthy and thriving state, provided that visitors are adequately informed as to the locations that offer the best opportunities.

How big is the coral industry?

The Mapping Ocean Wealth (MOW) initiative by the Nature Conservancy reveals that 70 million trips are supported by the world’s coral reefs annually, making them a significant tourism engine. Coral reefs generate an astonishing $36 billion a year in economic value, with $19 billion coming from “on-reef” tourism, such as diving, snorkeling, and wildlife watching, and $16 billion from “reef-adjacent” tourism, which includes activities like beach-hopping, seafood, and paddleboarding.

The 2017 Tourism for Tomorrow Innovation Award from the World Travel and Tourism Council recognizes the impact of this new information. Over 70 countries and territories have million dollar reefs, supporting businesses and people in various locations. Despite facing threats from climate change, pollution, and ocean acidification, coral reefs continue to drive local and global tourism economies. For example, in Florida, degraded reefs generate over $1 billion for the state and protect trillions of dollars worth of coastal assets.