The Value of Living Sharks

Sharks, often demonized and feared, hold immense economic potential when kept alive. Quite simply, sharks are more valuable alive than dead.  In South Australia, tourists are willing to pay substantial sums to cage dive with white sharks, underscoring their allure for adventure seekers. This contrasts sharply with the meagre value of shark fins, a cruel practice fuelled by demand for shark fin soup.

A study by the Australian Institute of Marine Sciences found that in Palau, reef sharks contribute significantly to tourism revenue, generating an estimated $179,000 annually per shark. Over a single shark’s lifetime, this translates to approximately $1.9 million in economic benefits. By comparison it is said that when a shark is killed and sold for meat, a shark fin could be sold for just a couple of hundred dollars.

Grey Nurse Shark Tourism in Australia

Along Australia’s East Coast, the grey nurse shark has emerged as a focal point for sustainable tourism. Dive operators offer thrilling encounters with these docile creatures, attracting recreational divers from around the globe. This industry generates an estimated $250 million annually for local communities.

Unlike many shark species, grey nurse sharks are predictable in their behaviour. They frequent specific areas, such as overhangs, gutters, caves, and shipwrecks, making them ideal subjects for underwater photography. These sharks can be observed at depths ranging from 5 to 30 meters, accommodating divers of all skill levels.

The Need for Policy Change

Despite the substantial economic benefits of shark tourism, Australian governments have often prioritized the interests of recreational fishermen. This approach has hindered the full potential of shark tourism to contribute to both conservation and economic development.

By shifting our perspective and recognizing the economic value of grey nurse sharks, Australia can position itself as a global leader in shark tourism. The Great Barrier Reef is already a world-renowned destination, and the addition of grey nurse shark encounters could further enhance Australia’s appeal to international travellers.

Seizing the Opportunity The economic argument may be the key to safeguarding grey nurse sharks. By demonstrating their substantial contribution to local economies, governments can be compelled to prioritize their conservation. Shark tourism offers a win-win scenario, promoting both economic prosperity and the protection of these magnificent creatures. What an amazing opportunity for the Australian government to seize that could be exactly what it takes to save these wonderful sharks for good.