Coral reefs under threat in a Caribbean marine protected area: Assessing divers' willingness to pay toward conservation

Coral reefs are an important environmental resource because they provide protection to coasts from erosion and the pounding of waves. In addition, reefs are a source of recreation and they encourage tourism. However, reefs are exposed to various threats from natural causes and human actions. One case of rapid coral deterioration is occurring in the Corals of Rosario and San Bernardo National Natural Park, located in the Colombian Caribbean Sea. This Park, a marine protected area, is subject to sedimentation from the Canal del Dique, which threatens the survival of the Park's coral reefs and, with it, some tourist activities. Among these activities, recreational scuba diving is the most prevalent in terms of monetary payments. This study aims to estimate recreational divers' willingness to pay for the conservation of the coral reefs in the Corals of Rosario and San Bernardo National Natural Park. For this purpose, both single-bounded and double-bounded dichotomous choice models were used. The results show that divers are willing to pay an average of US$89.56 per person. The total benefit to the coral reefs is US$376,152 per year. Using a discounted rate of 3%, the present value of this benefit is US$ 12.54 million. This study provides valuable information that could help future assessments of coral reef management as well as the establishment of regulations for their preservation.