Latest release from the Office of National Statistics presents information on the value of Britain’s marine ecosystems calculated: as a cultural and recreational asset; in the provision of natural resources; and as a regulator of environmental factors such as carbon emissions and water flows to prevent flooding.

The overall economic value of the UK’s coastal waters using these measures has been put at more than £200bn. Recreation had the highest value to the economy, worth an estimated £75bn. The study found more than 1 billion hours are spent on beaches and by the sea in Britain each year, representing a tenth of total hours spent on outdoor recreation with the coastal environment the key draw for millions of tourists and more than £1.7bn in consumer spending. It also said there was an average added-value of £8,100 for house prices with a sea view. Offshore wind production had soared in value by 37 times in the past decade. Click here

Highlighting the importance of aquatic habitats, sand dunes and salt marshes for capturing carbon – helping to limit global heating – the ONS estimated that between 10.5 and 60.1 million tonnes of CO₂ equivalent are sequestered in UK waters, with a value of between £742m and £4.3bn.

Estimating the contribution from fishing, the ONS said the value from the marine environment was about £7.5bn. It found that a total of 395 different species of fish were caught in UK waters, but that more than half the tonnage was made up of just two species: herring and mackerel.

Click here for ONS asset value of marine services in 2018.