Scenario Economic Impact Analysis of Offshore Fishing Tournaments in Ocean City

Yeong Nain Chi ()

International Journal of Business, Economics and Management, 2018, vol. 5, issue 5, 128-134

Abstract: This study used scenario analysis to estimate the economic impact of the expenditures of anglers who participated in offshore fishing tournaments in Ocean City, Maryland. The primary purposes of this study were to evaluate impacts on the adjacent areas, to identify potential uses for economic impact information, and to provide justification for investment and support of programs related to the needs of coastal communities and issues related to marine recreational fisheries management. To accomplish this study, the IMPLAN modeling system was employed to calculate the economic impact of offshore fishing tournaments on local and regional economies. Preliminary results using scenario analysis suggested the total economic impact of offshore fishing tournaments in Ocean City could be nearly $2.2 million for Wicomico and Worchester counties. To get this estimate, three different scenarios were considered based on potential expenditure estimate of what each tournament party would spend on lodging, fuel, food, fishing and miscellaneous costs. Using IMPLAN, impact metric categories could be generated including general labor income, job opportunities - employment, and value added. This paper provides the extent to which fishery managers, municipalities, business and private sector stakeholders could benefit from local marine recreational fishing tournaments, and potentially justify investment in infrastructure which supports marine recreational fishing.

Keywords: Offshore fishing tournaments; Expenditures; Scenario analysis; Economic impact; IMPLAN (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://archive.conscientiabeam.com/index.php/62/article/view/1195/1683 (application/pdf)
https://archive.conscientiabeam.com/index.php/62/article/view/1195/5000 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pkp:ijobem:v:5:y:2018:i:5:p:128-134:id:1195

Access Statistics for this article

More articles in International Journal of Business, Economics and Management from Conscientia Beam
Bibliographic data for series maintained by Dim Michael ().