In the studies we have done on the natural resource management, we have explored a variety of management techniques and implementations that have been introduced to various resources around the world. In order to address properly manage the resource, a range of factors have to be considered, by environmentalists and stakeholders alike. Yet, we have yet to address the economics of the resources. Economics address the consumer and producer interests and help to explain why we exploit some resources the way we do. It can also serve to propose a solution to the problems faced by the ecosystem.
Deloitte Access Economics did a study evaluating the economics contributions of the Great Barrier Reef. In this study, DAE estimated that the GBRMP contributed $5.7billion to the Australian economy in 2012, with 90% of the expenditure coming from tourism. The study further broke down the ways in which the reef contributed to the economy in terms of region function. By understanding this, the GBRMPA can reevaluate their zoning system. Through assessing which areas are valued most in tourism, those can be allocated as the General Use zones, whereas the areas of scientific research and management value can further be protected as Preservation and Scientific research zones. The incorporation of economics into resource conservation serves as a good way to understand what consumers are willing to pay to help conserve resources, and the values that these resources have.
Feature image: http://www.news.com.au/travel/travel-updates/bob-katter-calls-for-bounty-on-deadly-crown-of-thorns-starfish/story-e6frfq80-1226487155093
Source: http://www.environment.gov.au/system/files/resources/a3ef2e3f-37fc-4c6f-ab1b-3b54ffc3f449/files/gbr-economic-contribution.pdf