Sharks Worth More in the Ocean than in Bowl of Soup: Ecotourism Becomes Valuable

Sharks are disappearing from the world's oceans. As they're harvested for delicacies like shark fin soup, these creatures are facing never-before-seen threats from humans. Now, there may be more of an incentive to save these predators. Researchers have discovered that sharks are worth more in the ocean than in a bowl of soup.

The fishing industry kills millions of sharks each year. In fact, these creatures are currently being taken at an average rate that is 30 to 60 percent higher than can be sustained. Shark finning, in particular, is a practice that has drastically culled the shark population in the world's oceans. Ships fish for sharks and then cut off their fins, leaving them bleeding on the deck. Although fishermen are supposed to completely kill the sharks before engaging in this practice, sometimes the sharks are left alive and then are dropped back into the ocean after their fins are removed. There, they drown, unable to swim without their fins.

Yet the latest studied examined the commercial value of sharks not just in soup, but also in the ecotourism industry. The researchers looked at shark fisheries and shark ecotourism data from 70 sites in 45 countries. Almost $124 million in tourism dollars were generated annually in the Caribbean alone from shark tourism, and 29,000 shark watchers in Australia and New Zealand helped generate $40 million in expenditure a year.

Researchers found that shark ecotourism actually generates more than $314 million annually worldwide, and is expected to more than double to $780 million in the next 20 years. That's a stark contrast to shark fisheries that have a landed value of $630 million and have been in decline for the last decade.

"The emerging shark tourism industry attracts nearly 600,000 shark watchers annually, directly supporting 10,000 jobs," said Andres Cisneros-Montemayor with UBC's Fisheries Economics Research Unit in a news release. "It is abundantly clear that leaving sharks in the ocean is worth much more than putting them on the menu."

Not all sharks are created equal, though. Some species are extremely rare and reproduce slowly, which makes them even more vulnerable to fishing practices that don't distinguish between species.

"Sharks are slow to mature and produce few offspring," said Rashid Sumaila, senior author of the study, in a news release. "The protection of live sharks, especially through dedicated protected areas, can benefit a much wider economic spectrum while helping the species recover."

The findings could be crucial to protecting various species of shark into the future. Since they are extremely valuable while still alive, the new study could provide an incentive to halt shark finning practices.

The findings are published in The International Journal of Conservation.