How important are coral reefs?

Coral reefs are an incredibly important part of the biodiversity of the world’s oceans.  In fact, they are the foundation of this diversity in many cases.  Aside from the diversity of life that lives in or on a coral reef, these structures act as a natural breakwater and they have also begun to yield valuable chemicals that have medicinal qualities.  The natural beauty of coral reefs is also a draw for the tourism industry, thus contributing to healthy economies.