Economic Impacts of the U.S. Gulf of Mexico Recreational For-Hire Fishing Industry

Abstract

IMPLAN Version 3.0 was used with a 2008 IMPLAN data package to estimate the economic impacts of the recreational for-hire (RFH) fishing industry in the U.S. Gulf of Mexico (GOM). Initial, direct, indirect, and induced impacts were estimated. Impacts were estimated for head, charter, and guide boat operations for Texas, Louisiana, Mississippi, and Alabama (combined), and West Florida as individual state models, while introducing multiregional spillover effects that account for regional linkages between states. These updated data are necessary to meet national standards set forth by the Magnuson-Stevens Act, such that social and economic ramifications of proposed federal fishing regulations in the GOM can be made part of the overall decision- and policymaking process.

Keywords:

• economic impact analysis
• recreational for-hire
• U.S. Gulf of Mexico

Notes

1. Average annual expenses by operating class and state are reported in Savolainen et al. (2012).

2. The survey is able to account for the proportion of nonresident customers from each state; however, information is not available regarding the percent of customers from Alabama using RFH operators in Mississippi and vice versa. Estimates for the Mississippi–Alabama study region, therefore, have the potential to be marginally overestimated, a minor bias unique only to this joint study area.

3. Analysis was restricted to money that is introduced by nonresidents of the state and is maintained within the state's economy. The direct effects on output would total an additional $4,772,662, $8,423,948, and $15,570,621 (in 2013 dollars) for the head, charter, and guide boat sectors, respectively, if in-state resident spending were included.