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[Extract] Shark sanctuaries, defined as national prohibitions on the commercial fishing and trade of sharks, provide globally important refuges for some shark species. The Maldives has earned international acclaim for being a sanctuary and reaps considerable economic benefit from shark dive tourism. Despite its success in shark conservation, the country may repeal or weaken its sanctuary legislation based on the desire to benefit economically from shark fishing and perceptions of increased conflict between fishers and sharks due to depredation (when sharks take or damage catches). Although recent pandemic-related disruption of tourism likely fueled this initiative, it may have been inevitable given that revenue generated from shark tourism does not directly benefit communities that once fished sharks and now experience depredation.

Shark-diving tourism is a fast-growing industry that provides socio-economic benefits to local communities. This study estimated the economic contribution of the shark-diving tourism in the Maldives by using surveys with dive tourists and dive operators. Direct business revenue from shark divers was estimated to be US$14.4 million. Revenues to local businesses associated with travel expenses of shark divers were estimated to be US$51.4 million. Further economic benefits from shark-diving occurred in form of annual business tax revenues of US$7.2 million and annual salaries to employees working in the diving industry of US$4.1 million. These values were compared with the business revenues from shark-diving in the Maldives in 1992 to assess how the shark-diving industry has changed over time. The results of this study indicate that the business revenues of this industry have almost doubled (when inflation adjusted) over the last 24 years confirming its economic growth and importance for the Maldives. Effective management of shark dive operations is crucial for maintaining the value and sustainability of this tourism industry to improve ongoing conservation efforts for shark populations.

Shark-diving tourism provides important economic benefits to the Maldives. We examine the link between shark conservation actions and economic returns from diving tourism. A combined travel cost and contingent behaviour approach is used to estimate the dive trip demand under different management scenarios. Our results show that increasing shark populations could increase dive-trip demand by 15%, raising dive tourists’ welfare by US$58 million annually. This could result in annual economic benefits for the dive-tourism industry of >US$6 million. Conversely, in scenarios where shark populations decline, where dive tourists observe illegal fishing, or if dive operators lack engagement in shark conservation, dive trip demand could decrease by up to 56%. This decline causes economic losses of more than US$24 million annually to the dive tourism industry. These results highlight the dependence of the shark-diving industry on the creation and enforcement of appropriate management regimes for shark conservation.

An Amendment to this paper has been published and can be accessed via a link at the top of the paper.

Fishing has had a profound impact on global reef shark populations, and the absence or presence of sharks is strongly correlated with national socio-economic conditions and reef governance. Decades of overexploitation have devastated shark populations, leaving considerable doubt as to their ecological status(1,2). Yet much of what is known about sharks has been inferred from catch records in industrial fisheries, whereas far less information is available about sharks that live in coastal habitats(3). Here we address this knowledge gap using data from more than 15,000 standardized baited remote underwater video stations that were deployed on 371 reefs in 58 nations to estimate the conservation status of reef sharks globally. Our results reveal the profound impact that fishing has had on reef shark populations: we observed no sharks on almost 20% of the surveyed reefs. Reef sharks were almost completely absent from reefs in several nations, and shark depletion was strongly related to socio-economic conditions such as the size and proximity of the nearest market, poor governance and the density of the human population. However, opportunities for the conservation of reef sharks remain: shark sanctuaries, closed areas, catch limits and an absence of gillnets and longlines were associated with a substantially higher relative abundance of reef sharks. These results reveal several policy pathways for the restoration and management of reef shark populations, from direct top-down management of fishing to indirect improvement of governance conditions. Reef shark populations will only have a high chance of recovery by engaging key socio-economic aspects of tropical fisheries.

The extinction risk of sharks, rays and chimaeras is higher than that for most other vertebrates due to low intrinsic population growth rates of many species and the fishing intensity they face. The Arabian Sea and adjacent waters border some of the most important chondrichthyan fishing and trading nations globally, yet there has been no previous attempt to assess the conservation status of species occurring here. Using IUCN Red List of Threatened Species Categories and Criteria and their guidelines for application at the regional level, we present the first assessment of extinction risk for 153 species of sharks, rays and chimaeras. Results indicate that this region, home to 15% of described chondrichthyans including 30 endemic species, has some of the most threatened chondrichthyan populations in the world. Seventy‐eight species (50.9%) were assessed as threatened (Critically Endangered, Endangered or Vulnerable), and 27 species (17.6%) as Near Threatened. Twenty‐nine species (19%) were Data Deficient with insufficient information to assess their status. Chondrichthyan populations have significantly declined due to largely uncontrolled and unregulated fisheries combined with habitat degradation. Further, there is limited political will and national and regional capacities to assess, manage, conserve or rebuild stocks. Outside the few deepsea locations that are lightly exploited, the prognosis for the recovery of most species is poor in the near‐absence of management. Concerted national and regional management measures are urgently needed to ensure extinctions are avoided, the sustainability of more productive species is secured, and to avoid the continued thinning of the regional food security portfolio.

The slow growing nature and low reproductive output of sharks make them extremely vulnerable to over fishing. The shark fisheries of the Maldives expanded in the early 1970s. When management measures failed to enhance the declining shark fisheries, with inadequate information on shark stocks, in the face of uncertainty, precautionary approach was adopted and a total ban on all types of shark fishing was imposed. Nevertheless, a fishing ban was not able to halt the import and trade of shark souvenirs. From a socio-economic perspective, insufficient work was done to minimize the impact of the ban on former shark fisherfolk. Lack of broad stakeholder consultations prior to the ban and without providing a phase-out period for the shark fishery and declaring a total ban were some of the major factors contributing to the issues. Inability to impose an explicit ban on the trade, import and export of shark products is another major factor hindering the conservation purpose of the shark ban.