Abstract

Healthy marine ecosystems, such as corals reefs and mangrove forests, are critical to the economy and well-being on the Cayman Islands. In the last decades, local and global developments have resulted in serious threats to these fragile ecosystems, thereby jeopardizing the foundations of the local economy. To protect the marine environment from these looming threats, the Department of Environment of the Cayman Islands Government (DoE) has developed a proposal to expand its marine protected areas (MPAs). To support well-founded decision-making around the proposed plans, it is crucial to understand how the marine environment contributes to the economy and human wellbeing. Therefore, this study aims to assess the economic value and the societal importance of the main ecosystem services provided by natural capital of Grand Cayman, Cayman Brac, and Little Cayman. By estimating the potential changes in ecosystem service values over time, the socioeconomic effects of the proposed MPA expansion are assessed. This will support the development of long-term policy that ensures sustainable economic development on the Cayman Islands.

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