The importance of reefs
Corals in one form or another have been an important structural feature of reefs in shallow tropical seas since the days of the dinosaurs, 75 million years ago.
Coral reefs of the type we see today have been around for about 25 million years. They are highly productive and biologically diverse.
They are home to members of all the phyla or major groups of the animal kingdom. Put simply, they are a key part of the natural heritage and of the stock of biological diversity of the world.
The productivity of healthy coral reefs sustains a rich interlinked network of species that has been the main source of food and resources for many tropical coastal and island people since the time of the first humans.
The biological diversity of reefs is a natural treasure which may support future activities yet undreamed of.
Already reef species are yielding powerful chemicals effective in treatment of disease. In the future reefs may add to the range of species that can be cultivated to provide food, materials and economic support for people of tropical developing countries.
Coral reefs form natural breakwaters protecting the coastal lands and human settlements of many island and continental nations from erosion by storm waves.
The beauty and diversity of coral reefs have long been a source of wonder to coastal and inland people, and mariners.
For many communities there is a deep cultural aesthetic, spiritual significance and connection to the reefs.
The development of SCUBA, underwater film and video, and new technologies which make reefs accessible to large numbers of visitors has made coral reefs a powerful attraction for tourism. Well managed, tourism provides a sustainable means of earning and generating employment opportunities for many people.
In many ways coral reefs have become the marine environments most accessible ecosystem for scientific study and popular appreciation. By using coral reefs as reference and monitoring sites, and as a result of their linkages to other marine environments by currents, they are can provide good indication of the state of shallow marine environments throughout the world.
References: http://www.icran.org/peoplereefs-tenquestions.html

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