From drain to gain in capture fisheries rents: a synthesis study.
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The World Bank/FAO report, The Sunken Billions, argues that world capture fishery resources are performing far below their economic potential. The cost to the world economy is in the order of US$50 billion per annum in forgone resource rent. Case studies commissioned by the World Bank and FAO support these conclusions and show that the economic overexploitation of capture fishery resources is spread throughout the world, in both developed and developing fishing states. The question n ow to be addressed is what needs to be done to reverse the situation. It is clear that, in order for world capture fishery resources to realize their full economic potential, there will need to be a programme of massive resource investment in the overexploited fish stocks. Establishing effective capture fishery resource investment programmes will be challenging, particularly for shared stocks in the high seas. That said, several of the case studies provide encouraging lessons with ex amples of highly successful fish stock rebuilding programmes.