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Benefits of Rebuilding Global Marine Fisheries Outweigh Costs

Author

Listed:
  • Ussif Rashid Sumaila
  • William Cheung
  • Andrew Dyck
  • Kamal Gueye
  • Ling Huang
  • Vicky Lam
  • Daniel Pauly
  • Thara Srinivasan
  • Wilf Swartz
  • Reginald Watson
  • Dirk Zeller
Abstract
Global marine fisheries are currently underperforming, largely due to overfishing. An analysis of global databases finds that resource rent net of subsidies from rebuilt world fisheries could increase from the current negative US$13 billion to positive US$54 billion per year, resulting in a net gain of US$600 to US$1,400 billion in present value over fifty years after rebuilding. To realize this gain, governments need to implement a rebuilding program at a cost of about US$203 (US$130–US$292) billion in present value. We estimate that it would take just 12 years after rebuilding begins for the benefits to surpass the cost. Even without accounting for the potential boost to recreational fisheries, and ignoring ancillary and non-market values that would likely increase, the potential benefits of rebuilding global fisheries far outweigh the costs.

Suggested Citation

  • Ussif Rashid Sumaila & William Cheung & Andrew Dyck & Kamal Gueye & Ling Huang & Vicky Lam & Daniel Pauly & Thara Srinivasan & Wilf Swartz & Reginald Watson & Dirk Zeller, 2012. "Benefits of Rebuilding Global Marine Fisheries Outweigh Costs," PLOS ONE, Public Library of Science, vol. 7(7), pages 1-12, July.
    • Handle: RePEc:plo:pone00:0040542
    DOI: 10.1371/journal.pone.0040542
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    References listed on IDEAS

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    1. Andrew Dyck & U. Sumaila, 2010. "Economic impact of ocean fish populations in the global fishery," Journal of Bioeconomics, Springer, vol. 12(3), pages 227-243, October.
    2. repec:bla:devpol:v:28:y:2010:i:3:p:325-358 is not listed on IDEAS
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    Cited by:

    1. Hing Ling Chan & Minling Pan, 2021. "Fishing trip cost modeling using generalized linear model and machine learning methods – A case study with longline fisheries in the Pacific and an application in Regulatory Impact Analysis," PLOS ONE, Public Library of Science, vol. 16(9), pages 1-23, September.
    2. Nathan J. Bennett & Jessica Blythe & Andrés M. Cisneros-Montemayor & Gerald G. Singh & U. Rashid Sumaila, 2019. "Just Transformations to Sustainability," Sustainability, MDPI, vol. 11(14), pages 1-18, July.
    3. Sebastian Villasante & David Rodríguez-González & Manel Antelo, 2013. "On the Non-Compliance in the North Sea Cod Stock," Sustainability, MDPI, vol. 5(5), pages 1-20, May.
    4. Rossetto, Marisa & Bitetto, Isabella & Spedicato, Maria Teresa & Lembo, Giuseppe & Gambino, Monica & Accadia, Paolo & Melià, Paco, 2015. "Multi-criteria decision-making for fisheries management: A case study of Mediterranean demersal fisheries," Marine Policy, Elsevier, vol. 53(C), pages 83-93.
    5. Christopher Costello & Olivier Deschênes & Ashley Larsen & Steven Gaines, 2014. "Removing biases in forecasts of fishery status," Journal of Bioeconomics, Springer, vol. 16(2), pages 213-219, July.
    6. Carr, Liam, 2016. "Stakeholder Perspectives on a Tourism - Dependent Economy," Working Papers 262594, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    7. Yamazaki, Satoshi & Jennings, Sarah & Quentin Grafton, R. & Kompas, Tom, 2015. "Are marine reserves and harvest control rules substitutes or complements for rebuilding fisheries?," Resource and Energy Economics, Elsevier, vol. 40(C), pages 1-18.
    8. Schuhbauer, Anna & Sumaila, U. Rashid, 2016. "Economic viability and small-scale fisheries — A review," Ecological Economics, Elsevier, vol. 124(C), pages 69-75.
    9. Garlock, Taryn M. & Asche, Frank & Akpalu, Wisdom & Amaechina, Ebele Chinelo & Chukwuone, Nnaemeka Andegbe & Hutchings, Ken & Lokina, Razack & Tibesigwa, Byela & Turpie, Jane & Eggert, Håkan, 2020. "Fisheries Performance in Africa: An Analysis Based on Data from 14 Countries," EfD Discussion Paper 20-24, Environment for Development, University of Gothenburg.
    10. Gordon Munro & U. Sumaila, 2015. "On the Contributions of Colin Clark to Fisheries Economics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(1), pages 1-17, May.
    11. Dennis, Darren & Plagányi, Éva & Van Putten, Ingrid & Hutton, Trevor & Pascoe, Sean, 2015. "Cost benefit of fishery-independent surveys: Are they worth the money?," Marine Policy, Elsevier, vol. 58(C), pages 108-115.
    12. Hubold, Gerd & Klepper, Rainer, 2013. "Die Bedeutung von Fischerei und Aquakultur für die globale Ernährungssicherung," Thünen Working Papers 3, Johann Heinrich von Thünen Institute, Federal Research Institute for Rural Areas, Forestry and Fisheries.
    13. Tim Cashion & Santiago de la Puente & Dyhia Belhabib & Daniel Pauly & Dirk Zeller & U Rashid Sumaila, 2018. "Establishing company level fishing revenue and profit losses from fisheries: A bottom-up approach," PLOS ONE, Public Library of Science, vol. 13(11), pages 1-20, November.
    14. Wisdom Akpalu, 2013. "Foreign Aid and Sustainable Fisheries Management in Sub-Saharan Africa," WIDER Working Paper Series wp-2013-100, World Institute for Development Economic Research (UNU-WIDER).

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