The Micronesian country of Palau, which encompasses 250 islands in an area the size of France, just became a marine sanctuary.

At a recent U.N. oceans conference, President Tommy Remengesau, Jr. declared commercial fishing illegal in an attempt to protect the vibrant sea life that makes Palau a magnet for Asian vacationers. “I always say the economy is our environment and the environment is our economy,” he said. (Wise dude.)

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To make up for the lost revenue, Palau will tout its appeal for ecotourism, snorkelers, and scuba divers. Adds Australia Network News:

Mr. Remengesau says a dead shark is worth several hundred dollars, but a live shark is worth $1.9 million in tourism during its life span … “We’re not just closing our waters and throwing away the key,” he said.

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There’s just one small burp in the plan: Palau only has one boat to enforce the ban in a 200-mile area. Let’s hope it’s really fast.