Coral restoration as economic stimulus: a case study from the Florida Keys (United States)

Abstract

Coral reefs are declining at unprecedented rates, threatening the livelihoods of nearly 1 billion people. The cause of the decline is a complex mix of local, regional, and global pressures, which are expected to intensify in the coming years, creating a humanitarian crisis with transnational impacts. Coral restoration is neither a panacea for reef decline nor a long-term solution in the absence of climate remediation. Still, it can be a helpful tool in ensuring corals persist into the future. Recent criticisms of coral restoration question its ability to induce ecological change. However, the socioeconomic benefits of coral restoration can be realized independently from ecosystem improvement through the economic stimulus generated by their activities. Using the Florida Keys (United States) as an exemplar, we show that coral restoration can generate near-term economic benefits for a local community. Our findings demonstrate that funding coral restoration can have positive and immediate impacts on a local economy, providing near-term socioeconomic benefits through economic stimulus, independent of future ecological outcomes. Additionally, our findings demonstrate that the economic stimulus generated by coral restoration activity can add resilience to a local economy, as demonstrated in 2020 during coronavirus disease of 2019 shutdowns. We encourage funding and permitting agencies to consider the economic stimulus value when assessing the impact of coral restoration actions.