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Providing economic alternatives to those reliant on the shark fishing industryPhoto Credit: Mary O'Malley
The development of alternate sources of income for small-scale fisheries can change the socio-economic status of coastal communities while alleviating pressures on their fish stocks. Providing economic alternatives to community members who rely on income from shark fishing is an essential element of a successful Shark Sanctuary.
Shark Savers is working with local partners to develop a template offering a range of alternatives for shark and ray fishermen to make a sustainable living and for all communities to provide employment options and better futures for their children.
Travel and tourism is the largest business sector in the global market and is the second most important source of foreign exchange for the world’s 40 poorest countries, according to The International Ecotourism Society (TIES). Ecotourism has been growing at a rate of 20%-34% per year1. Dive ecotourism is a specialized sector that has created business and economic opportunities to global communities, providing a good incentive for locals to conserve their marine resources.
Divers rank sharks as the number one attraction2. For this reason, the value of a live shark to dive tourism has been demonstrated to be millions of dollars over its lifetime, and contributes tens of millions of dollars to economies annually in many locations, including the Maldives, Palau, Australia, the Bahamas, South Africa, Fiji, Honduras, Mozambique, Belize, Galapagos, Mexico, Philippines and more.