We know surfing ecosystems are valuable. But do we know how much? What is the value of surfing? What is the value of a wave? These are the questions ‘surfing economics’ is trying to answer.

‘Surfing economics’ is based on the long-standing discipline of ‘environmental economics’ and, in particular, on a set of methods known as ‘non-market-valuation’. In essence, these methods try to quantify the ‘worth’ or ‘value’ of things that cannot be bought or sold – for there is no market. Saving endangered species or improving air quality are common examples. These are ‘things’ (goods or services) that the environment provides us with and which we value, but we cannot buy. The same applies to surfing waves. Unlike other outdoor recreational activities, such as fishing, the value of surfing is only starting to be recognised among academics, policy-makers and coastal planners.

Information about the values associated with surfing can be used to better inform, for example, benefit-cost-analyses of coastal interventions. These can range from small initiatives, such as improvement of access paths, to large infrastructure like artificial reefs or wave parks. Surfing economics can also help understand people’s preferences and behaviours regarding surf amenity. For instance, it is possible to understand how surfers perceive risk and, thus, make decisions, depending on whether a certain beach has shark detection mechanism. 

Governments are constantly making decision about how to invest public resources and how much investments will benefit society. When it comes to coastal values, surfing economics can help gather information about costs and benefits of proposed projects. Importantly, surfing economics considers non-market benefits, like well-being, health and social cohesion. While the direct input of surfing into local and global economies is considerable, the ‘non-market’ values are also fundamental to understand the true value of surfing ecosystems.