"Coral reefs have supported human populations on tropical coasts of the world for hundreds, if not thousands, of years. At present the 'sustainable' fisheries yield of coral reefs is estimated to be about 20-35 million tonnes per year. Human population growth in recent decades, however, has already far outstripped the capacity of coral reefs to produce harvestable biomass.
Thus, a plea is made for coral reef conservation worldwide, bearing in mind the economic value of these ecosystems, not just in terms of fisheries production but also in terms of their various functions and the "services" they render to humanity.
Because of their relatively high biological diversity, coral reef communities harbour organisms that are a source of chemicals with potentially high commercial value, such as those used in drugs.
Another less appreciated function of coral reefs is their action as natural breakwaters protecting coastlines from erosion and de-struction by ocean waves and currents.
Finally, reefs have been increasingly valued for their sheer intrinsic beauty that provides a basis for a booming tourist industry in many parts of the world.
Recent estimates, including those made in court cases, indicate the value of a square metre of coral reef is probably in the range of hundreds to thousands of US dollars."
Source: GESAMP 71:27
GESAMP (IMO/FAO/UNESCO-IOC/WMO/WHO/IAEA/ UN/UNEP Joint Group of Experts on the Scientific Aspects of Marine Environmental Protection). 2001. Protecting the oceans from land-based activities - Land-based sources and activities affecting the quality and uses of the marine, coastal and associated freshwater environment. Rep. Stud. GESAMP No. 71, 162 pp. ISBN 82-7701-011-7.