Although Bermuda has to date managed to achieve equilibrium between tourism and coral reef conservation, this delicate balance may be threatened by the growth and changing face of the tourism industry. This may result in negative impacts on the coral reefs and services provided by this valuable ecosystem. The reef-associated value to Bermuda's tourism industry was determined, distinguishing between the added value of cruise and air tourism. Economic valuation techniques used were the travel cost method, the net factor income method, and the contingent valuation method. Results show that