Economics of Coral Reef Restoration
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This chapter provides an introduction to the economics of coral reef restoration. A comparison of coral restoration schemes from four countries indicates that costs can vary from some US$ 13,000 per ha to over a hundred million US$ per ha. However, it also reveals that cost estimates in the literature are not readily comparable, and that many cost components of restoration are ignored. Little work has been conducted into the potential benefits of coral restoration. This issue is briefly considered with reference to the case studies. The chapter suggests that a benefit–cost analysis approach should be used more often to help assess the justification for coral reef restoration and to improve the efficiency of any such expenditure. It is clear that a greater understanding of the economics and biology of coral reef restoration is required, as well as consideration of alternative management options, before being able to determine with confidence whether coral reef restoration really is an effective use of available funds.
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