Valuation of natural marine ecosystems: an economic perspective

This paper attempts to examine whether information from valuation studies can help the design of policies adequate to reverse and halt the generally poor state of marine and coastal ecosystems of the Mediterranean and the Black Sea. Economic implications of managing coastal and marine environments are thus discussed by assessing the results of different valuation studies implemented in the area. Lessons and policy recommendations from existing literature are inferred to guide marine resources management decisions. One of our main findings is that there are extremely few published studies within the Mediterranean and Black Sea region which highlights the potential for future research on coastal and marine ecosystems ability to sustain different goods and services as a result of climate change and anthropogenic drivers in the area. However, results reveal that there are substantial positive economic values attached to marketed and non-marketed services provided by marine and coastal ecosystems that justify their sustainable use and management.