Easy Destination: A new study has revealed that shark tourism is worth millions for the Palau economy. A single shark can generate $2 million for the Palau tourism industry in its lifetime.
This is according to the research by the Australian Institute of Marine Science (AIMS) and the University of Western Australia. The research says that Sharks are much more profitable if used for tourism rather than fishing.
The study that looked at the reef sharks at major dive sites in Palau revealed that a single reef shark is worth $179,000 per year or $1.9 million in its lifetime. The study further revealed that shark diving tourism in Palau is worth $18 million per year which is eight percent of Palau's gross domestic product.
However report also said that excessive fishing in the region could hurt the shark tourism. Sharks have low rate of reproduction and late maturity. Palau can gain much more if it ban fishing of sharks and concentrate on tourism.
1 comment:
Another rare experience for Philippine Tourism.
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