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Turks and Caicos Islands Natural Habitats Bring $45.5m in Tourism Revenue Per Year

August 21, 2017 |

This article was originally published on Magnetic Media

“Now we know the value of our environmental beauty to the country’s economy, it was revealed today by the Ministry of Tourism, Environment, Heritage and Culture to be $45.5m per year. The US dollar value of natural resources on a year to year basis comes following an AGGRA Reef Assessment conducted in May by a contracted firm, Wolfs Company which is based in Bonaire and Amsterdam.

In that media release, it was made clear that the tens of millions in value our coral reefs and other natural habitats bring to the number one industry, tourism is not counting the definite value the ecosystems bring through coastal protection, local recreation and fisheries. Another reality to which the Ministry was awakened by Wolfs Company, was how much should actually be invested when it comes to managing and protecting these natural resources.

It was explained that at least 1.8% of tourism related revenues should go to agencies like DECR; which equates to about $1.1m each fiscal year.  Director at DECR, Ethan Griesbach shared:  “A relatively small incremental investment in the financing of the organizations responsible for the natural resources of TCI would contribute significantly to improve the management and protection of essential natural capital.  DECR would encourage further use of Natural capital valuation by TCIG to further demonstrate the value of nature to TCI’s economy in planning and development strategies for TCI.”…”

Read on at: Magnetic Media.

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