IDEAS home Printed from https://ideas.repec.org/a/plo/pone00/0040542.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0040542
    Download Restriction: no

    File URL: https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0040542&type=printable
    Download Restriction: no

    File URL: https://libkey.io/10.1371/journal.pone.0040542?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    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
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. Carr, Liam, 2016. "Stakeholder Perspectives on a Tourism - Dependent Economy," Working Papers 262594, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
    11. Schuhbauer, Anna & Sumaila, U. Rashid, 2016. "Economic viability and small-scale fisheries — A review," Ecological Economics, Elsevier, vol. 124(C), pages 69-75.
    12. 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.
    13. 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.
    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).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alberto Roca Florido & Emilio Padilla Rosa, 2024. "Analysing the impacts of a reform on harmful fishery subsidies in Spain using a social accounting matrix," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 13(1), pages 1-29, December.
    2. Angeles Cámara & Rosa Santero-Sánchez, 2019. "Economic, Social, and Environmental Impact of a Sustainable Fisheries Model in Spain," Sustainability, MDPI, vol. 11(22), pages 1-16, November.
    3. Christensen, Villy & de la Puente, Santiago & Sueiro, Juan Carlos & Steenbeek, Jeroen & Majluf, Patricia, 2014. "Valuing seafood: The Peruvian fisheries sector," Marine Policy, Elsevier, vol. 44(C), pages 302-311.
    4. Lydia C. L. Teh & William W. L. Cheung & Rashid Sumaila, 2022. "Assessing the Economic Contribution of Ocean-Based Activities Using the Pacific Coast of British Columbia as a Case Study," Sustainability, MDPI, vol. 14(14), pages 1-14, July.
    5. Jacques, Peter J., 2015. "Are world fisheries a global panarchy?," Marine Policy, Elsevier, vol. 53(C), pages 165-170.
    6. Nathalie Hilmi & Shekoofeh Farahmand & Vicky W. Y. Lam & Mine Cinar & Alain Safa & Juliette Gilloteaux, 2021. "The Impacts of Environmental and Socio-Economic Risks on the Fisheries in the Mediterranean Region," Sustainability, MDPI, vol. 13(19), pages 1-30, September.
    7. Louise Teh & Vicky Lam & William Cheung & Dana Miller & Lydia Teh & U. Rashid Sumaila, 2017. "Impact of high seas closure on food security in low-income fish-dependent countries," Chapters, in: Paulo A.L.D. Nunes & Lisa E. Svensson & Anil Markandya (ed.), Handbook on the Economics and Management of Sustainable Oceans, chapter 11, pages 232-262, Edward Elgar Publishing.
    8. Ronald Umali Mendoza & Charles Siriban & Tea Jalin Ty, 2019. "Survey Of Economic Implications Of Maritime And Territorial Disputes," Journal of Economic Surveys, Wiley Blackwell, vol. 33(3), pages 1028-1049, July.
    9. Jacobsen, Kelsey I. & Lester, Sarah E. & Halpern, Benjamin S., 2014. "A global synthesis of the economic multiplier effects of marine sectors," Marine Policy, Elsevier, vol. 44(C), pages 273-278.
    10. Carvalho, Natacha & Rege, Sameer & Fortuna, Mário & Isidro, Eduardo & Edwards-Jones, Gareth, 2011. "Estimating the impacts of eliminating fisheries subsidies on the small island economy of the Azores," Ecological Economics, Elsevier, vol. 70(10), pages 1822-1830, August.
    11. Surís-Regueiro, Juan C. & Santiago, Jose L., 2014. "Characterization of fisheries dependence in Galicia (Spain)," Marine Policy, Elsevier, vol. 47(C), pages 99-109.
    12. Andrés M. Cisneros‐Montemayor & F. Gordon Kirkwood & Sarah Harper & Dirk Zeller & U. Rashid Sumaila, 2013. "Economic use value of the Belize marine ecosystem: Potential risks and benefits from offshore oil exploration," Natural Resources Forum, Blackwell Publishing, vol. 37(4), pages 221-230, November.
    13. Okeke-Ogbuafor, Nwamaka & Gray, Tim, 2021. "Is community-based management of small-scale fisheries in Sierra Leone the answer to their problems?," World Development Perspectives, Elsevier, vol. 21(C).
    14. Coralie Kersulec & Luc Doyen & Hélène Gomes & Fabian Blanchard, 2021. "The effect of illegal fishing on the sustainability of small scale fisheries," Bordeaux Economics Working Papers 2021-17, Bordeaux School of Economics (BSE).
    15. Xue Jin & U. Rashid Sumaila & Kedong Yin, 2020. "Direct and Indirect Loss Evaluation of Storm Surge Disaster Based on Static and Dynamic Input-Output Models," Sustainability, MDPI, vol. 12(18), pages 1-25, September.
    16. Nong, Duy, 2019. "Potential economic impacts of global wild catch fishery decline in Southeast Asia and South America," Economic Analysis and Policy, Elsevier, vol. 62(C), pages 213-226.
    17. Ekeland, Ivar & Karp, Larry S. & Sumaila, Ussif Rashid, 2011. "Equilibrium management of fisheries with altruistic overlapping generations," CUDARE Working Papers 123635, University of California, Berkeley, Department of Agricultural and Resource Economics.
    18. Ekeland, Ivar & Karp, Larry & Sumaila, Rashid, 2015. "Equilibrium resource management with altruistic overlapping generations," Journal of Environmental Economics and Management, Elsevier, vol. 70(C), pages 1-16.
    19. Sarah Harper & Marina Adshade & Vicky W Y Lam & Daniel Pauly & U Rashid Sumaila, 2020. "Valuing invisible catches: Estimating the global contribution by women to small-scale marine capture fisheries production," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-16, March.
    20. Mahfuza Begum & Muhammad Mehedi Masud & Lubna Alam & Mazlin Bin Mokhtar & Ahmad Aldrie Amir, 2022. "The Adaptation Behaviour of Marine Fishermen towards Climate Change and Food Security: An Application of the Theory of Planned Behaviour and Health Belief Model," Sustainability, MDPI, vol. 14(21), pages 1-24, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:plo:pone00:0040542. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: plosone (email available below). General contact details of provider: https://journals.plos.org/plosone/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.