Harbour Business Forum (HBF) has taken an active role in stimulating research in the area of environmental economics in respect to Hong Kong’s harbour. We are pleased to present to you a paper that has been commissioned on the economic value of the harbour. This paper looks at the concept of Total Economic Value and considers what it implies for the management of Hong Kong’s harbour. It concludes that the harbour should be managed with more regard to the concepts of:

(1) unpriced values 
(2) value at the margin 
(3) balance in expansion


Hong Kong arguably has one of the best waterfronts in the world, and HBF recognises the importance of the unpriced values associated with Hong Kong’s harbour. HBF supports efforts to measure, protect, and enhance the harbour and we ask that a strong leadership role is taken to ensure that analysis, forecasting and decision-making properly accounts for the full range of important economic and social services provided by the harbour.