8 authors, including: Samia Sarkis Living Reefs Foundation 13

Fishery Value

Coral reefs are a crucial habitat for fish stock and in this way also provide important ecosystem services through the commercial and recreational fishery sector. The value of coral reef-associated fisheries encompasses both direct and indirect values. The direct value of coral reef-associ- ated fisheries refers to the market value of the fish catch and the indirect value refers to the cultural and recreational importance of fishing in Bermuda. The direct value was obtained through existing data from the Marine Resources Section (GOB 2000) and from face-to-face interviews with fishermen. The indirect value was obtained through a sur- vey designed and administered for the purpose of this study, where 400 households were interviewed face to face. The valuation focuses on fisheries that depend directly on coral reefs for at least one portion of their life cycle, and is referred to as “reef-associated”. The fisheries value

includes (1) commercial fisheries and (2) recreational fisheries. To avoid overestimation of the fishery value, a distinction is made between reef-associated and non reef- associated catch.