Research: Tuna and Billfish Fishing Creates $510 Million in Annual Sales
The United States economy benefits significantly from fishing for swordfish, tuna, billfish, and sharks. Precisely how much? According to the National Oceanic and Atmospheric Administration (NOAA) Fisheries, anglers contribute approximately $510 million to the economy each year.
In late 2019, NOAA Fisheries published two studies examining the economic influence of recreational fisheries focused on Atlantic highly migratory species such as Atlantic tunas, sharks, billfish, and swordfish. These species are highly valuable to anglers, as evidenced by the number of permits and tournaments available. In 2018, NOAA Fisheries reported over 20,000 HMS angling permits issued and 200 tournaments held.
To estimate the economic impact, NOAA Fisheries conducted interviews with over 1,800 anglers to analyze their fishing trip expenditures. Additionally, the agency looked into the costs and revenue data from 73 tournament organizers and 104 fishing teams. Both studies were conducted in 2016.
The findings indicated that anglers typically spend around $682 for a day of fishing for highly migratory species. Unsurprisingly, fuel constituted the largest expense, while bait and groceries comprised a smaller portion of the overall costs. NOAA estimates that anglers allocate around $46.7 million annually on personal fishing excursions.
Regarding tournament fishing, teams indicated an average expenditure of $998 per event, with fuel and lodging being the top two costs mentioned in the report.
The two surveys indicate that both private and tournament HMS anglers were responsible for generating an estimated $232 million in total sales in 2016, supporting roughly 1,400 jobs.
When the two studies are merged, the research suggests that HMS recreational fishing brings in $510 million in total sales annually and supports approximately 4,500 jobs.
You can find the studies at www.fisheries.noaa.gov.