Abstract

The invasion of the Lionfish (Pterois volitans and Pterois miles) in Jamaica has numerous ecological impacts on the abundant marine ecosystems surrounding the island. The predominant effect of the Lionfish invasion is on the biodiversity in the marine habitats. As a result, there are direct and indirect economic implications especially in the areas of domestic fisheries, marine tourism and the non-market value for maintaining the biodiversity. In assessing the economic impacts of the lionfish invasion in Jamaica, the total economic impact was derived as a function dependent on the direct and indirect costs; where the direct costs were derived by correlating Lionfish gut content secondary data and the domestic market price for varying fish species; the indirect costs were identified as the non-market value and derived by collecting primary data from varying stake holders using the Contingent Valuation Method. The data was collected from fishermen, tourist, locals and dive shop operators using a stratified random sample frame from three parishes in Jamaica, St. Anns, St. James and Trelawny. The data was analyzed in the Gretl program using a combination of econometric techniques; more specifically, Ordinary Least Squares and Logistic Regression. The research establishes a baseline cost of the lionfish invasion which can be used to derive more detailed economic analysis. The results of this research can be used by government officials to quantify in economic terms the presence of Lionfish and develop the necessary policies to effectively manage the situation.