IVM Institute for Environmental Studies
7

The fishery value of coral reefs in Bonaire
Applying various valuation techniques

Stijn Schep
Ayana Johnson
Pieter van Beukering
Esther Wolfs

Report R12-08
14 December 2012

The fishery value of coral reefs in Bonaire

Contents
Summary

5  

Acknowledgements

7  

1  

Introduction

9  

2  

Background and methodology

11  

2.1  
2.2  
2.3  

Valuing Fisheries as an Ecosystem Service
Data
Methodology

11  
12  
13  

3  

Results

17  

3.1  
3.2  
3.3  

Commercial fishing
Recreational fisheries
Consumer surplus of the commercial fisheries

17  
20  
23  

4  

Value maps

25  

4.1  
4.2  
4.3  

Recreational/subsistence fisheries
Commercial fisheries
Total fishery value allocation

25  
27  
28  

5  

Conclusion

31  

References

33  

Annex A   Survey outcomes (Laclé, 2012)

35  

Annex B  

37  

Specific cost estimates

Annex C   Example of a choice experiment card

39  

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The fishery value of coral reefs in Bonaire

5

Summary
Fishing provides an important source of income and livelihood on the Caribbean Island
of Bonaire, also many people fish for recreational purposes. A large part of the catch is
composed of reef-dependent species, which rely on the health and productivity of local
coral reefs. To assist decision-makers in understanding and managing these fragile
ecosystems contributing to Bonairean well being the economic value of reef-dependent
fisheries is determined. Furthermore, the spatial distribution of the economic value of
the reef fisheries is revealed to help decision makers understand which areas of reef
are most economically important from a fisheries perspectives.
By estimating the economic value of the reef fisheries, which consists of both
recreational and commercial fishing, the total socio-economic value of reef fishing on
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DSSURDFK·7KHUHFUHDWLRQDOYDOXHRIWKHUHHIILVKHULHVLVFDOFXODWHGXVLQJERWKWKH
¶FKRLFHmodelling·DQGWKH¶PDUNHWYDOXDWLRQ·PHWKRG7KHFRPPHUFLDODQG
recreational values are combined to arrive at a total, annual reef-fisheries value for the
Island of Bonaire. This aggregate value is then combined with spatial fisheries
production data using ArcGIS to create a fisheries value map of Bonaire.
The reef-related total commercial fisheries are valued at almost $400,000 annually.
The recreational fishery value is estimated at an economic value of almost $700,000
per annum. These calculations have been used to create an allocation function, which
estimates the spatial distribution of the fisheries value along the coral reefs of Bonaire.
This in turn can be used to support long-term decision-making for example regarding
specific locations for coastal zone development and its impact on commercial and
recreational fisheries.

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The fishery value of coral reefs in Bonaire

7

Acknowledgements
This study would not have been possible without the enormous support of numerous
people and organisations on Bonaire. First of all, we want to thank ministry of
Economic Affairs, Agriculture and Innovation Caribbean Netherlands, especially Hayo
Haanstra, Astrid Hilgers, Ruth Schipper-Tops and Pieter van Baren for making this
research possible in the first place and special thanks to Paul Hoetjes, for facilitating
the study and for helping us overcome hurdles that we encountered during the course
of the study. Additionally, I would like to thank the commissioners of the Island
Territory Bonaire and island secretary N. Gonzalez and the Directorate of Spatial
Planning and Development, Unit Nature and Environment, especially Frank van Slobbe
for his valuable input and for introducing us to the right people, and STINAPA,
especially Ramon de Leon and Fernando Simal for discussing the study and giving
valuable feedback. Other people that helped us are Jeremy Jackson Scripps Institution
of oceanography Center for Marine Biodiversity & Conservation, Sabine Engel Lac Bay
Conch project, Mabel Nava Sea Turtle Conservation Bonaire and. And a thank you to all
the fishers who took the time to talk to us, especially Silvio Domacasse, Jason Muller,
Nilo Josephia and Pancho Cicilia. Furthermore special thanks for the support by Erik
Meester, Dolfi Debrot and Diana Slijkerman IMARES for answering all kinds of
ecological questions during our research and delivering us data. And thanks for
accommodating and supporting our team at CIEE Research Station.

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The fishery value of coral reefs in Bonaire

1

9

Introduction

7KHSURMHFW´:KDW·V%RQDLUH1DWXUH:RUWK"µDLPVWRSHUIRUPDVRFLR-economic
valuation of Bonairean nature. The framework that is used to do so in the entire
project is based on the valuation of ecosystem services. Ecosystem services are
defined as goods services that human beings derive from ecosystems. The marine
HFRV\VWHPVSURYLGHD´SURYLVLRQLQJVHUYLFHµZKHUHILVKDUHDIRRGVRXUFH7KHSXUSRVH
of this report is to determine the fisheries value of the marine ecosystems on Bonaire;
in other words, the welfare that is created in the fishing industry by local marine
ecosystems.
Fishing is an important activity on Bonaire. Although it is in potential conflict with
other ecosystem services, such as snorkelling and diving, it is also an important source
for income and livelihood for some locals and many people fish for recreational
purposes. While the fishing industry is locally focused and export of fish is nonexistent, both locals and many tourists eat the locally caught fish. Research from Laclé
(2012) indicates that the recreational and subsistence values of fishing are significant.
Of the entire local population, 15-20% percent practices either recreational or
subsistence fishing. Only 5% of these recreational fishers indicate that there is a
financial incentive to fish. Part of the catch contains pelagic species, such as the wahoo
(Acanthocybium solandri), common dolphin fish (Coryphaena hippurus) and several
species of tuna. The other part of the catch is composed of reef-related species, which
we define as species that are reef dependent for at least one stage in their life-cycle.
The value of reef-related catch is related to the health and productivity local coral
reefs. This study focuses on the value of local ecosystems, so only the reef-related part
of the catch is used for valuations.
The purpose of this chapter is to investigate the socio-economic value of fishing on
Bonaire. We estimate the magnitude of the fishery, making a distinction between
recreational and commercial fishing. This chapter continues with a brief discussion of
methods used to calculate the ecosystem service value of fishing. A few studies from
other locations are evaluated and compared with the situation in Bonaire. Then, the
chosen methodology is explained after which the results are discussed. The final part
of this chapter will be about the spatial allocation of the fishing value.

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The fishery value of coral reefs in Bonaire

2

Background and methodology

2.1

Valuing Fisheries as an Ecosystem Service

11

To use the terminology of the Millennium Ecosystem Assessment (MEA, 2005) fisheries
can fall into two different categories of ecosystem services: direct-use and non-use
value. When fishing happens in order to provide food, that direct-use is termed a
´SURYLVLRQLQJµVHUYLFH%RWKFRPPHUFLDODQGVXEVLVWHQFHILVKLQJIDOOLQWRWKLVFDWHJRU\
The value of such a service is determined by the quantity of fish and the type of
species that are caught, and a market valuation is the most common approach for
quantifying it (Hein, 2010, ch. 2).1
Recreational fishing is also a direct-use value. However, this value is more difficult to
quantify than the commercial fishing value, because it is not directly related to catch
quantity or any tradable good. Rather, valuation differs between individuals and
dependents on the perceived quality of the experience. Appropriate approaches
include cost method and contingent valuation method (CVM). It is not possible for us
to use a cost method, in which incurred costs (both opportunity costs and expenses)
are used as a measure to determine what people are willing to pay in order to perform
the activity, because there is no available data on these costs. Therefore we use CVM
WRH[SORUHILVKHUV·ZLOOLQJQHVVWRSD\ :73 IRUUHFUHDWLRQDOILVKLQJ&90LVDSSURSULDWH
because fishing costs are likely different from the value that people would attribute to
the experience of fishing, whereas WTP measures what someone is willing to offer in
order to practice the activity.
Van Beukering et al. (2011) use contingent valuation to determine the WTP of
recreational fishers to avoid a 20% loss in fish catch. From this 20% loss they calculate
the total WTP for the entire recreational catch. WRI (2008) uses an opportunity cost
approach to calculate the value of recreational fishing. Based on the time invested in
recreational fishing and the wages the fishers would earn while working, the authors
estimated the value of recreational fishing. However, such information is not available
for the recreational fishers on Bonaire. Therefore, we use a choice experiment
comparable to the one used by Van Beukering et al. (2011) to determine WTP.
This study also evaluates the non-use value of fishing. According to Dilrosun (2004)
and the Beleidsnota Cultuur Bonaire (2010), fishing has a prominent place in Bonairean
culture; it contributes to cultural identity. WTP is also the best approach for calculating
the cultural value of fishing, since there is no other way to quantify a cultural non-use
value (Hein, 2010).
Previous studies valuing fishing on Caribbean islands have divided commercial and
recreational fishing. For example, World Resource Institute (WRI), uses such a division
when investigating the socio-economic values of coastal ecosystems for several
Caribbean islands: Jamaica (Waite et al. 2011), Tobago and St. Lucia (Burke et al.
2008), Belize (Cooper et al. 2009) and the Dominican Republic (Wielgus et al. 2010).
Van Beukering et al. (2011) also use this division for their work on the US Virgin
Islands (USVI). They use a net revenue approach, calculating commercial fishing value
1

Hein (2010) and van Beukering et al. (2007) define the value of an ecosystem service as the
sum of the consumer surplus (CS) and the producer surplus (PS). This is the standard
economic method to calculate the welfare created by a specific market. Producer surplus is
defined as the difference between the market price and the price at which suppliers are
willing to sell their product. The consumer surplus is defined as the difference between the
FRQVXPHUV·ZLOOLQJQHVVWRSD\IRUWKHJRRGDQGWKHSULFHWKHconsumers are actually paying.

IVM Institute for Environmental Studies

12 Background and methodology
as the revenue minus the costs that are required to catch the fish, and estimating the
costs at around 25% of WKHILVKHUV· gross income. WRI uses a net revenue approach in
St. Lucia and Tobago, also with a cost estimate of 25% (Burke et al. 2008), but used
gross revenues when calculating fishing value for the other islands (Waite et al. 2011;
Wielgus et al. 2010; Cooper et al. 2009)
Because our study focuses on the ecosystem services provided by the local ecosystems
on Bonaire, we focus on reef-dependent species. We omit migratory pelagic fish, which
are caught on open sea, feed on pelagic prey, and only visit Bonaire during specific
seasons. Van Beukering et al. (2011), based on previous studies, estimate that 80
percent of the catch in the USVI is reef-dependent species. However, personal
observations suggest that this percentage is lower on Bonaire where there is greater
dependence on pelagic, migratory fish. WRI used either the type of fishing gear (Burke
et al. 2008) or data on landings to distinguish between pelagic and reef-related catch
(Waite et al. 2011; Cooper et al. 2009). Fishing on Bonaire is done mostly with hand
lines or by trolling, fishers alternate between techniques, and the gear data does not
specify frequencies per fisher, so a distinction based available gear data is not
possible. Also, while trolling targets pelagic species and hand lines target reefdependent species, both types of fish can be caught using either technique. Therefore
another distinction is necessary for this study. We use a distinction based on the target
species in each season, which is explained in more detail in Section 2.3.

2.2

Data

This study uses data from Laclé (2012) to calculate values for subsistence and
recreational fishing. These values are combined because the distinction between
subsistence and recreational fishing is vague. A more detailed composition of the
fishing value would enable us to determine the effects on welfare distribution that
certain policy measures would have, but the available data is insufficient for such a
fine-grained analysis.
Laclé (2012) conducted a household survey, randomly selecting households from each
neighbourhood to obtain a representative sample of the Bonairean population. This
survey was administered to 400 households, of which 385 respondents were
considered reliable enough to use in the analysis. It included a choice experiment,
which elicited the willingness to pay (WTP) for an increase in fish catch and the WTP for
an avoidance of a decrease in catch. This per person WTP can be used to calculate the
total WTP for recreational and subsistence fishing.
We use data from Johnson (2011) to calculate the value of commercial fishing. Johnson
(2011) extensively interviewed fishers and people working in the diving industry to
gain information on landings, earnings, fishing gear, sustainability, trends, time
preferences, etc. She interviewed 51 fishers from Bonaire, who are estimated to
UHSUHVHQWRIWKHLVODQG·VIXOODQGSDUW-time fishers. Not all of these respondents
were used for the analysis, because the necessary income questions were not
answered. The dataset contains information about incomes, catches, and frequency of
fishing trips, which makes it possible to calculate the fishing income by multiplying the
quantity of fish caught by fish prices. The dataset also contains the reported average
income per week, which enables us to cross-check the response of each fisher for
consistency. Local experts, including the marine park manager and a representative of
the Ministry of Economic Affairs) (e.g. the ministry concerned with fisheries), and an
additional 7 local fishers were also interviewed to check for consistency and provide
some extra information on the operational costs of fishing.

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The fishery value of coral reefs in Bonaire

13

We endeavoured to minimize overlap between these two datasets. It is possible that
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iQWHUYLHZHHVDV-RKQVRQ·VVWXG\WKDWZDVIRFXVHGRQSURIHVVLRQDOILVKHUV%DVHGRQWKH
data, the best way to separate these data sets is based on the average number of
fishing days per week. Every fisher who fishes 2 days or more per week is dropped
from the recreational survey. Every fisher that fishes less than 2 days per week is
dropped from the commercial data. As visible in Figure 2.1 this leads to the smallest
possible number of dropped respondents. 35 commercial fishers remain in the sample
and 115 recreational fishers. While this method may not completely reflect the
distinction between commercial, recreational and subsistence fishers, there is no
variable that can occur in both datasets that can be used for separation. However,
since 7% of the remaining recreational fishers fishes to sell the catch, and 70% of the
catch in the final commercial dataset is sold, the separation seems successful. It is also
important to note that the line between commercial and recreational fishing on Bonaire
is blurry: almost all fishers consume at least part of their own catch, which makes
them partly subsistence fishers; and most commercial fishers also fish for enjoyment,
while some recreational fishermen also sell part of their catch.

Figure 2.1 Distribution of average fishing days per week for data from Johnson
(2011) and Laclé (2012).

2.3

Methodology    

The fishery values, commercial as well as recreational, are estimated by combining
data from two studies on the fisheries of Bonaire (see Figure 2.2). Jonhson (2011)
interviewed 65% of active fishers on Bonaire and Laclé et al. (2012) surveyed 400
households asking questions on recreational fisheries. During these interviews
fishermen with subsistence motives are found in both categories. However, the
importance of the incentive varies between fishermen. To calculate the value of
commercial reef-fishing in Bonaire, the net factor income approach is used, in which
the capital costs are subtracted from the revenue of commercial fishing. The
recreational value of reef-fishing is calculated based on the Willingness to Pay (WTP) of
fishermen to prevent decreases in fish catch. A separate value is calculated for the
commercial value of the catch based on the market-price technique.

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14 Background and methodology

Figure 2.2 Methodological framework for the calculation of the total fishing value and
creation of a value map. PS = producer surplus; CS = consumer surplus;
WTP = willingness to pay.

2.3.1

Commercial fisheries

Commercial fisheries consist by our definition of fishers who have a financial incentive
to fish, who sell at least a part of their catch and fish for 2 or more days a week. As
determined by our literature review, the best way to capture the value of the ecosystem service exploited by commercial fishers is to look at consumer and producer
surplus created in the fish market. The added value of commercial fisheries, which is
defined as the difference between costs of inputs in the fishing sector and the total
revenue, reflects the producer surplus. This method is also called the net income
benefit method. So, in order to calculate the commercial fishing value, the revenue and
the costs of fishing are required. The idea is that every input in the production
function is valued for its benefit. Since the producer surplus is the benefit that is not
attributed to anything, it can be attributed to the ecosystem.
Based on data from Johnson (2011) we can estimate fishing revenues. However,
LQIRUPDWLRQRQILVKHUV·H[SHQVHVLVQRWDYDLODEOHLQWKDWGDWDVHWVRLQterviews were
conducted with local fishers to obtain the information necessary to estimate the costs
of fishing. There are two primary types of fishing vessels on Bonaire: boats smaller
than 8 meter with an outboard gasoline engine, and boats longer than 8 meter with an
inboard diesel engine. Fishers with both types were interviewed to investigate the
operational costs.
To get the most reliable estimate of the commercial fishing PS, we calculated annual
revenues with four different methods, the first three of which use data from Johnson
 DQGWKHQWRRNWKHDYHUDJH)LUVWZHVLPSO\XVHGILVKHUV·UHSRUWHGDYHUDJH
weekly fishing income. Second, we used on the number of reported good, bad, and
normal fishing weeks, and reported estimated income during each type of week. Third,

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The fishery value of coral reefs in Bonaire

15

we used the average number of kilograms of fish sold multiplied by the average sale
price. And fourth we used data from interviews with fishery experts and local fishers
who estimated income per fishing vessel, which we then multiplied by the number of
boats.
Again, our particular interest here is reef-related fisheries. Unfortunately, the
Bonairean fishing industry does not keep track of its landings, nor do fish markets
keep track of their sales in terms of species. However, expert interviews indicated that
WKHSHODJLFVSHFLHVZHUHRQO\WDUJHWHGGXULQJVSHFLILFVHDVRQV7KHVRFDOOHG´GRUDGR
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four months a year. Outside those pelagic seasons, mainly reef-related species are
targeted. We also consider average size of the catch during different seasons, which
enables a division between reef and pelagic related fisheries.
The collection and analysis of the aforementioned information provides us with the PS
of the commercial fisheries. However, calculating the total welfare created by the
HFRV\VWHPVHUYLFHUHTXLUHVWKHFRQVXPHUVXUSOXVDVZHOO/DFOp·VFKRLFHH[SHULPHQW
(2012), investigating the average WTP of the Bonairean population for a fee that
maintains the current fish catch, enables this calculation. This WTP provides a good
estimate of the consumer surplus: the difference between the market price and the
highest price people are willing to pay; the additional willingness to pay for a good.

2.3.2

Recreational fishing

The value of recreational fishing is difficult to determine as it is based on enjoyment of
the activity, an aspect that is hard to quantify. Subsistence fishing value is also difficult
to quantify because it is done for nutritional purposes (i.e., to obtain food), not
financial, and people are not paying for the fish they catch. There are quantifiable
expenses involved in both, but the most important cost is the opportunity cost of the
time that is invested in fishing. Unfortunately, data on time spent on these types of
fishing is not available.
Based on the data collected by Laclé, it is possible to determine WTP related to
changes in quantity of fish caught by recreational and subsistence fishing. However,
WTP is related to the ability to pay. Since subsistence fishing is mostly done by people
with a low ability to pay, the calculated WTP likely underestimates the value of
recreational/subsistence fishing. The market value of the catch provides a more
suitable estimate of the value of fishing to subsistence fishers, as it is an estimate for
the addition to their income that is created by subsistence fishing. Recreational
fishers, on the other hand, depend less on fishing for their livelihood; rather their main
incentive to go fishing is enjoyment, so the market value of their catch is of minor
importance.
Here we calculate both WTP and the market value of the catch. To determine the WTP,
ZHXVH/DFOp·VFKRLFHH[SHULPHQW  ZKLFKFRQVLVWHGRIVL[URXQGVRITXHVWLRQV
and three different proposed scenarios. The scenarios reflected different values of 6
attributes: reef quality, terrestrial quality, quantity of fish catch, the freedom of
roaming goats, public access to the beach, and an environmental fee. In each round,
the respondent had to choose between three alternatives, which were tradeoffs
between the different attributes. If all attributes were to be equal for a respondent,
there would be no best alternative, and a choice would be made on a random basis.
However, since most people have a preference for specific attributes in the scenarios,
the choices of the respondents reveal these preferences. If a respondent values
attribute A more highly than attribute B, the state of attribute A would exert greater
influence the decision of the respondent than the state of attribute B. The choices of
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16 Background and methodology
the respondents can be analyzed using a Multinomial Logit Model (Laclé, 2012), which
makes it possible to relate all attributes to the environmental fee (one of the attributes
in the experiment). Thereby, a WTP can be constructed for each specific attribute.
Differences between the two valuation approaches can be informative. If the WTP
approach produces a higher value estimate than the market-based approach, this
indicates that the recreational aspect is very important, since buying the fish on the
market would be cheaper than going to catch it. If the market value approach produces
a higher estimate that indicates that fish as a cheap food source (subsistence fishing)
is probably a very important reason to go fishing. Furthermore, the combined WTP for
subsistence and recreational fishing might still be lower than the market value of the
catch. This might be caused by an ability to pay that is too low (Arrow et al. 1993).
However, only 2 out of the 126 recreational fishers in the dataset responded that the
fees in the choice experiment were not affordable, so that seems unlikely.
Determining the part of the fisheries that is reef related is easier for recreational
fishing, using Laclé·V  GDWDRQFDWFKFRPSRVLWLRQ&KDUWHUILVKLQJERDWVDUHQRW
included in the valuations. While tourists pay high amounts of money in order to go on
recreational fishing trips the sector is economically significant, but trips are primarily
concerned with catching large pelagic predators, especially species of marlin, so the
values are not attributable to the coral reefs.
In line with the other values that are calculated, we calculate an annual value, with
which it might be possible to calculate discounted values for additional future years.
However, one must consider that these values are often based on current situations.
Ecosystem services tend to vary in the quantities and qualities they provide, according
to different scenarios.

2.3.3

Value mapping

Aggregating the final values provides us with a total value for fishing on Bonaire.
However, we seek further to examine the spatial allocation of this fishing value. Van
Beek (2011) provides us with a study that identifies the abundance of sea life on the
reefs of Bonaire. This provides us with a spatial division of reef production, but only
for half of the island and the other part of the island is also an important area. Both
commercial and recreational fishers make use of the western/leeward reefs. Some
larger commercial vessels fish on the eastern/windward reefs, but smaller boats are
often unable to access those areas due to large waves and swell. However, there is
substantial recreational shore fishing on some areas of the eastern coast.
To examine the spatial distribution of reef-related fishing effort, both commercial and
recreational fishers were asked in the additional interviews to indicate their favourite
fishing grounds. Unfortunately, it was not possible to obtain spatial data for the entire
reef extent (only the west-coast reef). Luckily, the reefs around Bonaire are
comparable. Although the reefs in the west (leeward) have steeper drop-offs, the
eastern (windward) reefs have about the same extent. On average, the reefs seem to
extend approximately 150 meters from the coastline (STINAPA, 2012); therefore we
use a buffer zone of 150m around the island in the ArcGIS software to represent
%RQDLUH·VUHHIH[WHQW7KH$UF*,6GDWDXVHGIRUWKHVSDWLDODOORFDWLRQFRPHVIURP%XUR
Vijn and was used for the spatial development plans on Bonaire.
Using this data we created a raster data layer for both recreational and commercial
fisheries. Adding the values of both raster layers with an overlay function creates a
final fisheries value map, where both recreational and commercial fishing are summed
up in each overlaying raster.

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The fishery value of coral reefs in Bonaire

3

17

Results

These two values on commercial and recreational provide informative comparisons.
Once the two methods for both value categories are reconciled, then the final
recreation and commercial fisheries value are combined to calculate a total annual
reef-fisheries value. This number is then combined with spatial, fisheries production
data to create a fisheries value map (see Chapter 4).

3.1

Commercial fishing

This section explains the calculations and results of the different methods that are
used to calculate the fishing income. These values are then combined into an average
fishing income per fisher. The number of commercial fishers is estimated, with which a
value for the total fishing industry is calculated. Next, the importance of reef
dependent species is estimated and the operating costs are calculated in order to
estimate the total value of reef-dependent commercial fishing.
,Q-RKQVRQ·VGDWD  ILVKHUVUHSRUWHGWKHLUDYHUDJHZHHNly income and the number
of weeks per year they fished. Based on those data, we calculate an average annual
income of 24,122 Antillean guilders (ANG, see Table 3.1). Based on the number of
good, bad and average fishing weeks that fishers report, with the respective incomes
in these types of weeks, calculated average yearly income comes to 33,656 ANG.
Additionally, we calculate annual income by multiplying the average catch in kilograms
with the reported prices per kilogram, resulting in an estimate of 35,511 ANG.
Table 3.1

Average annual revenue per fisher in Antillean guilders (ANG) according to the
data collected by Johnson (2011).

Average annual income for commercial fishermen
Reported*
Based on good and bad fishing weeks**

ANG 24,122
ANG 33,656

Based on reported catch sold and prices***

ANG 35,511

*
**

The average annual fishing income of all respondents.
Number of good fishing weeks x earnings during a good fishing week + number of bad fishing
weeks x earnings in a bad fishing week + number of average fishing weeks x earnings in average
fishing weeks.
*** Sold catch in KG x Price in ANG.

Since none of the fishers (with one exception we know of) keep track of their catch,
precise determination of annual incomes is difficult. Most of the fishers seem to live
from day to day and income fluctuates a lot from season to season. We found it
prudent to use average of the three income estimates in Table 3.1, in attempt to
minimize the impact of respondent errors or bias.
Johnson (2011) interviewed approximately 65% of the fishers on Bonaire. If we assume
that our commercial fishers definition applies to the same percentage of fishers in the
population as in the sample, a total of 54 fishers2 are active in the commercial sector.
Based on the additional interviews with local fishers and other fisheries experts, and
counting the number of fishing vessels on the island, we come to a very similar
conclusion. Table 3.2 shows the calculations based on the expert interviews Schep
2

35 fishers in the sample/0,65=54 commercial fishers.

IVM Institute for Environmental Studies

18 Results
conducted on the island, which add up to 49 fishers. For the further calculations we
XVH-RKQVRQ·VHVWLPDWHRIILVKHUVEHFDXVHKHUPRUHH[WHQVLYHLQWHUYLHZVLPSO\WKDW
may be a more reliable number.
Table 3.2

Estimation of the number of commercial fishers on Bonaire. Boat numbers
are averages based on expert interviews. Average number of fishers per
boat is based on our observations and expert interviews. The number of
fishers using big and small boats is the product of the first two columns,
and the grand total is the sum of those.
Fishermen per. boat

Number of boats

Number of fishermen

Big boats

2

11.5

23

Small boats

1.5

17.5

26.25

Total

N.A.

29

49.25

Using the annual income estimates from Table 3.1 and the number of fishers from
Table 3.2, we calculate the total annual revenue in Table 3.3. Average annual revenue
Table 3.3 shows the average yearly revenue per fisher based on the three calculations
of yearly income. The average income of 30,435 ANG leads to a total revenue of
1,643,539 ANG. Based on the exchange rate at the time of the ANG to dollar
transition, which was 1.79 ANG for 1 USD (DNB 2011), the annual revenue becomes
$918,178. Based on the expert interviews conducted it is also possible to calculate the
annual revenues for the commercial fisheries, as shown in Table 3.4. Based on the
average catch per season per boat type the total revenue is somewhat lower:
$744,138.
Table 3.3

The average of the calculated incomes in Table 3.1 multiplied by the
number of commercial fishers.

With 95% confidence interval

From

To

Average

Average income (ANG)

18,555

42,316

30,435

Total income (ANG)

1,002,002

2,285,075

1,643,539

Total income (USD)

559,778

1,276,78

918,178

Note: Calculations based on 54 fishermen and an exchange rate of 1.79 ANG = 1 USD.

Table 3.4

Total revenues estimated from information collected in expert interviews
Total Catch $

Reef-related catch $

% reef-related catch

Small Boats

$200,900

$121,597

60.5%

Big Boats

$543,239

$239,025

44.0%

Commercial fisheries

$744,139

$360,622

48.5%

Note: Revenue generated by catch of reef-related fish, calculated using average earnings per season.
It is assumed that only pelagic fish are caught during the pelagic seasons and reef fish during
the low season. The part of the revenue that is earned in the reef season, the reef related
catch is estimated.

From the expert interviews it is also possible to determine seasonality catch. For
simplicity, we assume that the catch consists exclusively RIUHHIILVKLQWKH´ORZ
seasonµDQGH[FOXVLYHO\RISHODJLFILVKLQWKH´KLJKVHDVRQµ7KHWRWDOUHHI-related catch
is the amount earned in the reef season divided by the amount earned annually, which
IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

19

is 48.RIWKHWRWDOFDWFK8VLQJWKHWRWDODQQXDOUHYHQXHEDVHGRQ-RKQVRQ·VGDWD
(2011), and the 48.5% based on expert interviews, we estimate the value of the reef
related portion of the total catch to be a $445,317 as displayed in Table 3.6.
The costs associated with fishing are the final component required to calculate the net
income value of coral reefs for the fisheries sector. We conducted additional interviews
with local fishers provided insight in the operational costs of a fisher, because the cost
data collected by Johnson is not specific enough for these calculations. Average costs
for small boats and big boats are calculated separately for the high and low seasons.
Fixed costs, which include maintenance, fishing gear costs and depreciations on
investments are divided according to the percentage of the total revenue that is made
in each season (Table 3.4, last column). The fuel costs are divided according to the
amount of fuel that is used in each season. See Table 3.5 for the calculation of the
total fishing costs.3 Since the data is from 2010 an inflation rate of 1.18 is used to
estimate diesel costs (Curoil, 2012, Wikipedia 2012). This results in a total cost of
$192,877 for the reef related fisheries, which is 62.3% of the total costs of fishing
overall.
Table 3.5

Calculation of total fishing costs per year. First two rows represent the
average costs per boat. The final row is the estimation of total fishing
costs for the entire commercial fishing industry.

Boat type

Item

Big boat

Total costs per boat
% of total costs
Total costs per boat
% of total costs
Total costs
% of total costs

Small boat
All boats

Pelagic Season
$6,678.
45.9%
$2,272
28.0%
$116,575
37.7%

Reef Season
$7,885
54.1%
$5,839
72.0%
$192,878
62.3%

Note: For the aggregation of the average costs an estimation of 11.5 big boats and 17.5 small boats
is used.

Using this cost estimate we calculate the net commercial fishing value, as shown in
Table 3.6. First, the reef-related portion of the total revenue is calculated. Second, the
costs attributed to the reef-related portion of the catch are subtracted from the reefrelated revenue in order to determine the total net value of the coral reefs as ecosystem service providers. This brings us to the final value attributable to the ecosystem service of commercial reef fisheries, which is a little over $250,000 annually.
This is the producer surplus. The consumer surplus will be calculated after the section
about recreational fisheries, since some of those results are required for the
calculation.

3

More information on the calculation of fishing costs can be found in the appendix.

IVM Institute for Environmental Studies

20 Results
Table 3.6

Calculation of the value of the producer surplus of the commercial
fisheries.
Value

Total annual revenue
% of fishing reef related
Reef-related annual revenue
Reef-related annual costs

$918,178
48.5%
$445,317
$192,878

Net annual commercial reef fishing value (producer surplus)

$252,439

Note: Total revenue ² pelagic oriented revenue ² costs that are incurred by reef fishing =
Commercial fishing value.

3.2

Recreational fisheries

The second step towards the valuation of the ecosystem services that are provided by
the coral reefs around Bonaire is the valuation of the recreational fisheries. This
section starts with the calculation of the market value of the catch, as an indicator of
the importance of recreational fishing as a provisioning service. Then we provide an
explanation of the results from the choice experiment.
The calculation of the market value of the catch is very similar to the calculations of
the commercial fishing value. However, as indicated by the data of Laclé (2011) 80% of
recreational fishing is done from land and 20% from small (mostly rowing) boats. So,
the costs of fishing are assumed to be negligible. This makes the calculation very
straightforward:

So, the catch in kilogram is multiplied by the market price for fish, which gives the
total market value of both pelagic and reef-related fish. To calculate the reef-related
value, this total market value is multiplied by the percentage of kilograms that are
considered to be reef-related, which gives the market value of the reef related
fisheries. Both the catch and the percentage of reef fish can be calculated based on
Laclés (2012) household survey data. -RKQVRQ·V  GDWDSURYLGHVDQDYHUDJH
market price of 6.95 $/Kg 4. The average amount of fish catch is per trip is estimated
at 7.7 kilograms. However, the distribution of this fish catch is skewed to the right,
due to some dubious exceptional outliers ² two the respondents reported average
catches of 90 and 100 kilogram per trip. Given that the commercial fishers sell on
average 18 kg per day, these values are considered unreliable. Therefore, an
estimation built on the median catch per trip seems more appropriate in this case:
2 kg per fishing trip. The average number of fishing trips per month is 1.8. Multiplying
the latter two with each other and by the number of months in a year, gives the yearly
catch in kilogram per fisher. Based on the market price of a kilogram of fish, this is
worth a $300 (see Table 3.7).

4

The dollar amount is based on the same exchange rate as in the commercial fisheries
section: 1.75 ANG/USD.

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire
Table 3.7

21

Variables used to calculate the market value of recreational catch. Both
median and average kilograms per trip are given, but only the median is
used to calculate the annual catch.

Fishing trips
per month

Catch per trip

Price in

Yearly catch per
fisherman

Market value of
yearly catch

1.8

2 (median)

6.95 $/Kg

43.2 Kg

$300

The second method to determine the value of the recreational fisheries is by looking at
WTP. WTP is estimated using the choice experiment results provided by Laclé et al.
(2012) (see Table 3.8). However, results are calculated separately for recreational
fishers in this study. The attribute of interest is fish catch. The WTP data was collected
IRU´QRFKDQJHLQILVKFDWFKµDQG´ILVKFDWFKLVKLJKHUµDQGUHSUHVHQWVWKH:73WR
go from a situation of a 20% decrease to respectively the current situation (no change)
or a better situation (20% increase). The WTP is compared to a situation where the fish
catch is 20% lower. As expected, the WTP for an increase in fish catch is significantly
higher than it is for an unchanged catch quantity. Strangely though, there is no
significant difference between the WTP of recreational fishers and the average WTP of
the total Bonairean population for avoidance of a 20% decrease in fish catch (both
$IRUWKH´QRFKDQJHLQILVKFDWFKµDWWULEXWH 
This is surprising for two reasons. One, since recreational fishers are the ones that
catch the fish, it is expected that they are more concerned with the quality of their
fishing experience (including the quantity and size of fish they catch) than they are
with the market value of that fish. A possible explanation is that recreational fishers
KDYHDORZHUDELOLW\WRSD\EXWZHGRQ·WKDYHWKHGDWDWRGHWHUPLQHZKHWKHUWKDWLVWKH
case, nor is it clear why that would be the case. Second, WTP for an increase in catch is
much higher. So a decrease of catch is relatively less important to the fishers than an
increase. In other words, fishers are willing to pay more to catch a fish, if the fish are
more abundant. This is not in line with the general economic theory about scarcity,
which states that average values go up if something is less abundant.
The fish catch considered to this point consists of both pelagic and reef dependent
species. Luckily, Laclé (2012) inquired about the composition of the recreational fish
catch. Using a card that displays all the commonly caught fish on Bonaire, the
interviewers asked which fish were caught and in what quantities. Based on the
responses in that household survey, the author states that only 10% of the recreational
catch is pelagic. The rest of the catch (90%) is dependent on the reefs around Bonaire.
The final variable that is required to calculate the value of recreational fishing is the
number of recreational fishers. The total population of Bonaire was estimated at
16,541 in 2012. Based on the household survey, between 15.7% and 23.8% of the
population practices recreational fishing. That leads to between 2,488 and 3,772
recreational fishers. The estimates are derived from two different questions in the
VXUYH\´+RZPDQ\SHRSOHSUDFWLFHILVKLQJLQ\RXUKRXVHKROG"µDQG´'R\RXSUDFWLFH
UHFUHDWLRQDOILVKLQJ"µ

IVM Institute for Environmental Studies

22 Results
Table 3.8

All attributes of the choice experiment and the WTP for each attribute.
Coefficient

Alternative specific
constant
Reef quality
medium
Reef quality high
Terrestrial quality
medium
Terrestrial quality
high
Fish catch no
change
Fish catch 20%
higher
No grazing
Beach access 10%
lower
Beach access no
change
Fee
Rec. Fish * Fish
catch no change
Rec. Fish * Fish
catch 20% higher

Average WTP of
Bonairean
population($)

WTP
recreational
Fishers ($)

SE

P

0.840

0.135

0.000

25.95

25.95

0.530

0.071

0.000

16.38

16.38

0.707

0.070

0.000

21.85

21.85

0.183

0.071

0.009

5.67

5.67

0.295

0.069

0.000

9.11

9.11

0.205

0.079

0.010

6.34

6.34

0.420

0.078

0.000

12.99

25.67*

-0.492

0.049

0.000

-15.19

-15.19

0.267

0.076

0.001

8.26

8.26

0.313

0.075

0.000

9.68

9.68

-0.032

0.004

0.000

-0.027

0.186

0.886

0.411

0.18285

0.0248

N

2232

R2 Pseudo

0.0744

Note: The last column represents the WTP of recreational fishers, and the second last column the
WTP of the whole Bonairean population. Every WTP presented here is significantly different
from 0. Difference in WTP between recreational fishers and the general population is only
VLJQLILFDQWIRUWKHLQFUHDVHLQILVKFDWFKDVGHQRWHGZLWK´ µ7KHDOWHUQDWLYHVSHFLILF
FRQVWDQW $6& UHSUHVHQWVWKH:73WRDYRLGWKH´QRPDQDJHPHQWµVFHQDULRWKDWLVQRW
explained by the attributes. So a positive ASC can be interpreted as the demand for additional
environmental management.

Table 3.9 shows WTP and market value of the recreational fish catch for the entire
recreational fishing population. Interviews with local experts indicated that the lower
estimates were probably much more reliable. So, to be conservative, the lower
estimations of $79,000 for the WTP value and the $750,000 market value are
considered to be the most reliable estimates for the total economic value of fisheries.
This difference can again be explained by a low ability to pay of recreational fishers,
but that is not very likely, since only a few of the respondents reported that the fees in
the choice experiment were not affordable. It is also possible that the beneficiaries of
the catch of recreational fishing extend beyond the fishers themselves to their family
and friends.

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire
Table 3.9

23

Final calculation of the total WTP and total market value of the catch of
recreational fishing on Bonaire.
WTP

Average value of the catch

Market value

$31.70

$300

Recreational fishers population (% of Bonairean population)
Low estimate

15.70%

High estimate

23.80%

Aggregate reef-related value
Based on 15.7%

$70,991

Based on 23.8%

$107,617

3.3

$672,377
$1,019,272

Consumer surplus of the commercial fisheries

The WTP of the entire population for the total fish catch (both commercial and
recreational) is $507,000. This can be considered the overall WTP to maintain the
current situation.5 &RPPHUFLDOILVKLQJLVUHVSRQVLEOHIRURI%RQDLUH·VHQWLUHDQQXDO
catch, of which 48.5% is reef-related. So a 27% of the entire catch is reef-related
commercial catch. The WTP of the population for a fee to maintain the commercial
reef-related fish catch would therefore amount to $135,250, if recreational and
commercial fishing are given equal weight. This is the amount of money that people
are willing to pay for the catch, but do not actually pay: the consumer surplus. Total
welfare created by the commercial fisheries, that is, the total fishing value, is the sum
of the producer and consumer surplus, as shown in Table 3.10.
Table 3.10 Calculation of the fishing value by the sum of producer and consumer
surplus.
Value component

Amount

Producer surplus

$252,439

Consumer surplus

$135,250

Total commercial fishing value

$387,689

5

Calculation done in the same way as for the total WTP of recreational fishers.

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

4

Value maps

4.1

Recreational/subsistence fisheries

25

In order to allocate the total recreational fishing value spatially, it is necessary to
determine an allocation function that can be used to divide the total value between
different parts of the reef. According to WRI (2008), this can be calculated based on
reef production: the higher the reef production, the higher the value allocated to the
reef. Unfortunately, spatial information about the state of the reef is needed to
determine reef production is only available for the leeward reefs, which makes this
approach impossible.
Instead we use a spatial allocation based on the area where the fish are caught.
Depending on the species and location, reef fish might be forming more open or more
closed populations. However, the current academic perspective seems to be shifting
towards the idea that reef fish populations are much more closed than previously
thought, although there is limited empirical evidence to support this (Mora and Sale,
2002). For our calculations, we therefore assume, that fishers fish at the parts of the
reef where fish are abundant and that those parts of the reef are important for the fish
production. However, if the fish populations are relatively open, this allocation method
might prove to be a poor estimate. Ideally more research would be available for the
true value allocation based on the production capacity of the reefs.
Table 4.1 shows the calculations of the dollar per square meter value for recreational
fisheries for each part of the reef. The allocation for the recreational fisheries is
straightforward. Around the location of the activity, a buffer of 2km was used to
GHWHUPLQHWKHUHHIDUHDDWWULEXWDEOHWRWKHYDOXH7KHIXQFWLRQ´H[WUDFWE\PDVNµLQ
ArcGIS was then used to extract the reef area attributable to the function. So, the reef
area within 2km of the recreational fishing spot is the area used for the calculations.
Figure 4.1 shows the result of the allocation according to the market value of the
recreational fisheries.

IVM Institute for Environmental Studies

26 Value maps
Table 4.1

Calculations of the dollar per square meter per year values for each area
that is important for recreational fisheries. When respondents did not
VSHFLI\DQDUHDVWKDWLVOLVWHGDV´XQVSHFLILHGUHHIORFDWLRQVµ

Name Loc:

Percentage
of fishing

Market
value

WTP

Latitude

Longitude

Playa Palu di Mangel

4.71%

$31,185

$3,341

12.134358

-68.280715

Sorobon Beach

22.35%

$148,133

$15,868

12.092703

-68.235054

Bachelor's Beach

1.18%

$7,796

$835

12.126217

-68.287883

Playa Sarna/Playa Pàbou

2.35%

$15,593

$1,670

12.162046

-68.284946

Playa Lechi

2.35%

$15,593

$1,670

12.166013

-68.287228

Pink Beach

7.06%

$46,779

$5,011

12.064333

-68.283267

Boulevard

1.18%

$7,797

$835

12.154486

-68.279170

No Name Beach

2.35%

$15,593

$1,670

12.168717

-68.305150

Tolo

1.18%

$7,797

$835

12.214883

-68.337900

Playa Frans

8.24%

$54,575

$5,846

12.246139

-68.414086

Cai

8.24%

$54,575

$5,846

12.103314

-68.222582

Karpata

3.53%

$23,389

$2,506

12.218967

-68.352383

Playa Funchi

8.24%

$54,575

$5,846

12.282367

-68.414900

lagoen

2.35%

$15,593

$1,670

12.182289

-68.211622

Salt company

5.88%

$38,982

$4,176

12.079433

-68.282200

Playa Benge

3.53%

$23,389

$2,506

12.290024

-68.414611

Reef scientifico

1.18%

$7,796

$835

12.168645

-68.288011

BOPEC

1.18%

$7,796

$835

12.218562

-68.383541

Unspecified reef location

12.94%

$85,761

$9,187

Total

100.00%

$662,702

$70,991

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

27

Figure 4.1 Spatial distribution of recreational fishing value.

4.2

Commercial fisheries

The allocation for commercial fisheries is based on interviews with local fishers and
other fisheries experts. In these interviews it became clear that basically all large boats
fish on the eastern reefs, while the smaller boats fish mainly on the western side and
around Klein Bonaire. Based on the interviews we are able to divide the value of
commercial fishing between the large and small boats. We know what large boats
catch, what small boats catch and how many small and big boats there are, which
makes the division possible. By dividing the fishing value that is attributed to a specific
part of the reef by the area of that part of the reef, a dollar per square meter value is
calculated (Table 4.2 and Figure 4.3)

IVM Institute for Environmental Studies

28 Value maps
Table 4.2

Spatial distribution of the commercial fishing value.
Klein Bonaire &
West-Coast

East-Coast

Totals

% of total reef catch

33.7%

66.3%

100.0%

Part of commercial fishing value

$130,723

$256,965

$387,689

Area in square meter

9,262,500

7,472,868

16,735,368

$ per square meter

$0.0141

$0.0344

Figure 4.2 Spatial allocation of the commercial fishing values.

4.3

Total fishery value allocation

By overlaying the recreational and commercial fishing layers the final fishing layer is
calculated. Rasters of both layers were snapped to the same raster layer (each cell of a
layer fits exactly the overlaying cell of the other layer). This enables to sum the values
of both raster layers to calculate the final fishing value per square meter, as displayed
in Figure 4.3. There appears to be a high-value hotspot area around Sorobon and Lac
Cai, and to a lesser degree around salt pier in the Southwest. Kralendijk is well-used
area, as expected due to the higher population density of that urban area. The highvalue hotspot in the Northwest is less straightforward, as that area is far away from
residential areas and deep into the national park Washington-Slagbaai. Since the survey

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

29

only investigated the favourite locations for fishing, but not the frequency, it is
possible that many recreational fishers go there, but not very often. However, that
cannot be determined from our data. Notably, the high-value hotspots are mainly
determined by the concentration of recreational and subsistence fishing, not driven by
commercial fishing.

Figure 4.3 Spatial allocation of the sum of the commercial and recreational layers.

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

5

31

Conclusion

In this study, we estimate the values of commercial and recreational fisheries on
Bonaire. Since it is difficult to determine the value of subsistence fishing, the market
value of recreational fishing is used for the final calculations and the value map. As the
WTP was much lower than the market value of the catch, the importance of fishing as
an open access food source seems to be significant as does the benefit of fishing to
Bonaireans who do not practice recreational fishing. In local interviews it became clear
that fishing was used as a way to reduce food expenses. Of the recreational fishers,
FKRVH´,HQMR\ILVKLQJµDVDQLPSRUWDQWPRWLYDWLRQWRJRILVKLQJDQGFKRVH
food. Both incentives can simultaneously be important for the same fishers, making it
impossible to neatly and distinctly characterize their motivations. The commercial
fisheries are valued by estimating the size of consumer and producer surpluses in
order to calculate the total economic welfare that is created.
It is important to keep in mind that the calculated values are annual values, and that
these values are determined by the state of the ecosystem, which is dynamic. Coral
reefs are very sensitive to human influences and threatened by climate change (HoeghGuldberg et al. 2007; Sandin et al. 2008), thus these values are liable to change. Based
on two questions answered by respondents in the commercial fisheries dataset
(Johnson 2011), it is possible to get an idea of the extent to which fish stocks around
Bonaire are overexploited: What was your best year in terms of fishing ever? What was
your worst year of fishing ever? Figure 5.1 shows the results based on age categories.
The average worst year reported was 2009, while the average best year was 1998.
Furthermore, the best years are on average longer ago for older fishers. This data is a
strong indication that catches, and implicitly fish stocks, are declining or a long time
already, with clear negative ramification on the commercial, recreational, and
subsistence values of fishing.

Figure 5.1 Average best vs. average worst year per age category. The best years are
below the worst years for every age category. Data was collected in 20102011, thus worst years are generally very close to the interview year,
while the best years are further in the past. Data from Johnson (2011).

IVM Institute for Environmental Studies

32

Conclusion
The lack of data on catch composition was a challenge for this analysis. The division
between reef and pelagic fisheries is a rough estimate, and the impact of the fisheries
on the local ecosystem is very hard to determine based on interviews with local fishers.
More detailed data is required to determine the state of fish stocks, to evaluate the
sustainability of the fisheries, and to produce a more accurate calculation of the socioeconomic value of fishing. Some of the fishers stated in interviews that their practices
are sustainable because they mainly fish with hand or draglines and do not anchor on
the reefs. While this might be the case, there is no empirical evidence for this assertion
of sustainability. To determine the sustainability would require a recording system to
monitor current catches and by-catches (also by lost fishing lines), as well as data on
catches in previous decades, and data on changes in fishing effort over time in order
to quantify how catches per unit of fishing effort have changed over time. This is not
an easy task, the data is not readily available, and local fishers do not seem very eager
to work with the government on organizing the fisheries. Starting such a recording
system, however, would make the investigation easier in the future.
On the other hand, the data presented here represents the most thorough assessment
WKDWKDV\HWEHHQFRQGXFWHGRQ%RQDLUH·VILVKHULHVDQGDFFRUGLQJWR6DQGLQet al.
(2008) local pressure by fisheries can form an important pressure on the coral reef as
an ecosystem. In order to sustainably manage reef resources, it is critical to quantify
this pressure and manage the socio-economic drivers behind them. While the
calculations in this analysis could be improved with additional data at a finer
resolution, we provide a useful estimate of the magnitude, market value and spatial
distribution of Bonairean fisheries that can be used to inform management decisions.

IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

33

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34

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IVM Institute for Environmental Studies

The fishery value of coral reefs in Bonaire

35

Annex A Survey outcomes (Laclé, 2012)

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The fishery value of coral reefs in Bonaire

37

Annex B Specific cost estimates
Table C.1

Big boat

Capital
investment

Average

Per year*

2,250

225

New engine (from
Miami) (overhaul)

1,500

New engine (from
Curacao) (overhaul)

3,000

Boat

12,500

1,250

Fishing equipment

3,500

350

Sub-total

Fuel

1,825
Season

Corrected
for inflation

Diesel High per day

75

3,992.72

4,711

Diesel low per day

50

5,372.79

6,340

Sub-total
Maintenance

11,051

Equipment

500

Engine

500

Big maintenance

688

Sub-total

Table C.2

1,688

Small boat
Per year*

Capital

Boat
Engine

2,057
3,600

206
360
566

Sub-total

Maintenance

1,200
1,200

Sub-total

Fuel

High season per day
Low season per day
Remaining
Sub-total

29.6
44.4
37

1,576
4,771
0
6,347

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The fishery value of coral reefs in Bonaire

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Annex C Example of a choice experiment card

IVM Institute for Environmental Studies