ANALYSIS OF ECONOMICS GAIN FROM SUSTAINABLE FISHERIES

Abstract

The dynamic region that encircles the land-sea contact is known as the coastal zone. There are many advantages and prospects for human usage in the coastal region and its resources. The majority of Tanzania's coastal industries (fishing, forestry, agriculture, tourism, mining, salt production, mariculture, etc.) depend on the natural resources that the coast provides. Thus, social well-being and the state of the coastal ecology are intimately related. The difficulty lies in preserving and enhancing the resources that underpin those activities while creating new business prospects that benefit the coastal community and the country at large. The insufficient legal and institutional framework for coastal management is a significant barrier. The efficient distribution of resources is the focus of economics. In most situations, resources are allocated efficiently by market forces. However, market forces by themselves are unable to generate an optimal allocation in fisheries. Additionally, as this article has shown, most offshore waters, where the bulk of artisan fisherman focus, are already overfished. In order to prevent the stock from running out, policy intervention is therefore required. This should involve licensing, seasonal closure, identifying non-fishing-related economic endeavors, and implementing a community-based conservation strategy.