The Economic Value of Endangered Species Preservation

Introduction

Endangered species preservation has been a topic of debate for several decades. While some argue that it is a waste of resources, others believe that preserving endangered species has a significant economic value. In this article, we will explore the economic value of endangered species preservation.

Ecotourism

One of the most significant economic benefits of endangered species preservation is ecotourism. People are willing to pay to see endangered species in their natural habitats. For example, tourists are willing to pay to see the elephants in Africa, pandas in China, and tigers in India. This creates employment opportunities for the locals and generates revenue for the country.

Bioprospecting

Another economic benefit of endangered species preservation is bioprospecting. Bioprospecting is the process of exploring, extracting, and exploiting the biological resources of a particular ecosystem. Endangered species are a source of genetic materials that can be used in the pharmaceutical and cosmetic industries. For example, the venom of the cone snail is used as a painkiller, and the skin of the poison dart frog is used in the production of anti-wrinkle creams.

Research and Development

Endangered species are also a source of research and development. Scientists study the behavior and genetics of endangered species to develop new technologies and medicines. For example, the study of the immune system of sharks has led to the development of a new type of medical adhesive.

Environmental Services

Endangered species are also responsible for providing environmental services. For example, bees are essential for pollination, and elephants help in the dispersal of seeds. These environmental services have an economic value as they provide benefits such as increased crop yields and reduced erosion.

Conclusion

In conclusion, the economic value of endangered species preservation cannot be overstated. Ecotourism, bioprospecting, research and development, and environmental services are just a few of the economic benefits of preserving endangered species. It is, therefore, crucial to protect endangered species for their economic and ecological value.