The economic benefits of invasive species management

Abstract Invasive species are known to cause significant negative impacts to ecosystems and to people. In this paper, we outline the nature of these economic impacts, and then present a range of approaches for estimating the economic costs of invasive species (including impacts on biodiversity), and thus the benefits of management programmes. The importance of thinking clearly about the most appropriate context for valuation is stressed. We provide examples of the application of non‐market valuation approaches to invasive species management, and show how such methods can be used to measure public preferences over how control is undertaken. We discuss some important problems in applying economic valuation methods in this context. A plain language summary is available for this article.