The Economics of Marine Protected Areas
Isn’t it great when something good for our marine life also makes economic sense as well?
A landmark study by the Allen Consulting Group released today has found that establishing large marine sanctuaries in Australia’s south west would lead to significant growth in tourism revenue, bringing a 20% boost so that $55 million was injected every year into the WA economy.
The Economics of Marine Protected Areas also found that marine sanctuaries would generate long term economic prosperity with a more diverse economy and healthier fish stocks outweighing the short term costs of establishing sanctuaries.
The Report’s release was supported by author Dr Martin Van Bueren and WA businessmen Mr John Poynton and Mr Jock Clough. They were also joined by Curtin University Sustainable Tourism researcher Dr Tod Jones.
“As this important report highlights, there are many economic benefits for WA that flow from protecting areas of our unique marine environment. I believe this report should now encourage the Federal and State governments to work together to create large new marine sanctuaries in the south west” said John Poynton at the launch.
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