The worth of giants: The consumptive and non‐consumptive use value of the giant sea bass (Stereolepis gigas)

Abstract

Abstract Although the economic value of wildlife historically has been attributed to its consumptive use, the global growth of ecotourism has expanded wildlife valuation to include non‐consumptive uses. In California, the critically endangered giant sea bass (Stereolepis gigas) is paradoxically both a flagship species in the recreational dive industry and regularly sold in California's commercial fisheries when incidentally caught. The differences in the economic value of S. gigas to these two key stakeholders – commercial fishers and recreational scuba divers – were explored. The average annual landing value of S. gigas was US$12 600, this value was determined using California commercial fishery landing receipt data. In contrast the estimated average value of S. gigas to recreational divers was US$2.3 million per year. The non‐consumptive use value was calculated by approximating the annual number of recreational charter boat divers and determining divers' willingness‐to‐pay for a S. gigas sighting. Stated landings volumes of S. gigas appear to represent a minimum annual extraction of 2% to 19% of the S. gigas population. Using self‐reported fishery catch location data, S. gigas bycatch hotspots were identified and used to inform suggestions for strategic spatial and temporal closures. Overall, these results highlight the value of giant sea bass beyond fisheries and underscore the importance of incorporating non‐consumptive values when developing harvest policies and marine management plans.