Valuing coastal systems

Integrated coastal zone management involves ail assessment of development needs and economic inequality, pressures from population growth and mass tourism as well as social and cultural conflicts. In this context, economic valuation of coastal functions that provide goods and services is an important tool. Its applications and caveats are reviewed. Published value estimates range widely (i.e. 0.05-200,000 US$ ha(-1) y(-1)) depending on function valued, method used and local welfare (f.x. expressed as GDP). An argument is made that, despite this variation and despite imperfect knowledge of ecosystem complexity, societal preferences or the 'real value' of nature, decisions on coastal development will be made and thus be helped best by the rational provision of scientific knowledge, from both natural sciences and socio-economics. A mixed methodological approach is therefore suggested to be most useful in practical, and multidisciplinary, situations. Three cases are presented of European valuation exercises at different spatial scales on the coast.