What is a 'nature-based economy'?

What is a nature-based economy?

04.07.23 — News

A nature-based economy ensures that conservation is a source of capital for development. Rewilding is a strategy used to regenerate complete, functional ecosystems that are self-sustaining or require minimal human intervention to thrive.  There are economic opportunities in rewilding. The increasing global popularity of nature-based tourism demonstrates this potential. Helping nature heal can lead to prosperous local economies. These aspects together form what we refer to as the economy of nature model.

The model for the economy of nature is built on four main components: parks, wildlife, a restorative economy, and the well-being of local communities.

Parks are protected areas where the economy of nature model can be applied. They are categorized as such and should be developed into nature tourism destinations. These parks offer quality infrastructure for public use to facilitate accessibility while prioritizing the visitor experience and minimizing environmental impact.

In the economy of nature model, there is a focus on protecting and producing wildlife through reintroducing extinct species and supplementing dwindling populations. This helps in regenerating complete and functional ecosystems with an abundance of observable wildlife. These natural spectacles provide productive opportunities through nature tourism.

In this model, the restorative economy is linked with tourism based on wildlife watching guided by local people. In addition, a territorial brand can be developed to offer services or products made in the region, which help to reduce threats to the park and its wildlife.

The economy of nature model goes beyond just economic benefits. It also promotes entrepreneurship and generates historical interest and values in local communities, ultimately leading to regional empowerment. In addition to providing job opportunities, it also enhances trade training, access to essential services, and connectivity.

Lands previously used for livestock agriculture or forest production are now being repurposed for nature-based economies or parks. This transformation will boost local development and create job opportunities.

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