Economics losses to fishery and seafood related businesses during harmful algal blooms

摘要

Harmful Algal Blooms (HABs), specifically red tide, can cause coastal economic activity to slow in Southwest Florida. Popular as a vacation destination, the area thrives on revenue generated by its beach access and proximity to fresh seafood. When blooms persist for multiple months in a row, fishery and seafood related businesses feel the negative effects. We examine taxable sales receipts for the fishery and seafood sector of Pinellas County, and find that during months with a persistent bloom of red tide, the county generates 14.8 % less in monthly taxable sales revenue for this sector. For the average month, this is northwards of S20,000 in lost monthly fishery and seafood related revenue. Our estimates, along with previous literature suggest that even if seafood in the area is healthy, the negative news surrounding the blooms causes demand to drop. These results suggest effects of red tide are severely damaging to seafood related businesses and services, and must be at the forefront of policy and management decisions going forward.