Valuation Report: Guadalupe White Sharks
White Sharks Alive: A value of $123.1 million
It is estimated that there are approximately 10,000 great white sharks (Carcharodon carcharias), also known as White Sharks, left worldwide. This means that the white shark population is smaller than the global lion population. Roughly 380 of them regularly visit Isla Guadalupe in Mexico during part of the year.
The island is considered to be one of Mexico’s best-preserved marine protected areas. The Guadalupe Island Biosphere Reserve was declared in 2007 and since then it has been protected by the Natural Protected Areas Commission. Guadalupe is a volcanic Mexican island in the Pacific Ocean situated 260 km from Punta Eugenia and 335 km from Ensenada. The island can only be reached via boat. Shark diving in the region is controlled under the laws of Mexico.
The popularity of Isla Guadalupe with shark divers is due to the aggregation of the sharks in the region, the clarity of the water, and the predictable seasonality, which means that the sharks can easily be studied and identified. This factor has helped scientists to identify and name 380 individuals that are regularly found in the Isla Guadalupe waters. However, this also makes them susceptible to capture and increases the risk of the population declining.
The value of these sharks for tourism is clear. But it goes much further than that. Sharks have become the central subject matter for countless films, documentaries, and games. The Jaws franchise grossed worldwide box office revenues of $799 million (excluding merchandise and related sales), but these days the biggest shark movie franchise is Sharknado. In fact, according to filmsite.org, the disaster horror series of six films is one of the most successful movie franchises. Midyear 2021, the Total Franchise Gross exceeded $4.5 billion, beating Disney-Pixar’s $4.5 billion.
While none of these films were filmed in Guadalupe, the earnings can be attributed to the global population of White Sharks, and a percentage of it to the Guadalupe sharks. This is particularly evident in the many documentaries filmed for Discovery Shark Week and Nat Geo’s Shark Fest that have been filmed there in the past decades. Guadalupe sharks are superstars and they have made networks a lot of money. Additionally, we also examined the earnings sharks provide to social media influencers.
One of the important elements in valuing the ecosystem services sharks provide is to look at the key local food web interactions for the white shark resident in the waters around Isla Guadalupe and other species that co-habitat the waters. It includes predators and prey. The relationship matrix is vital in understanding the importance of the white shark relative to the other species.
graphic by Endangered Wildlife OÜ
The biggest data gap we struggled with is the Carbon value that one should attribute to sharks. While it is understood that sharks contribute to solving the planet’s carbon threat, there is a lack of scientific evidence that can justify their actual impact in terms of carbon value. Future studies and reports will close this gap, at which time the value of sharks will increase greatly. We will update these reports as new data becomes available.
The baseline value of the white shark population in the Isla Guadalupe waters is $123.1 million over a 30-year period. This value is comprised of the following:
+ Aesthetic Value: $4.9 million
+ Economic Value: $83.5 million
+ Hedge Value: $1.8 million
= Species Existence value: $90.2 million
+ Impact Value: $32.8 million
= Total Conservation Value: $123.1 million
Averaging that out over the 113 common individual white sharks interacting with dive boats, the value each shark earns is $1,089,125.
For an explanation of the different categories and the qualifications used in this report go to our blog called “Shark Species Valuation Reports: The Why and How”. While all of the numbers above are great arguments why we should protect our sharks as an investment, ultimately, the most important reason why sharks matter is the important role they play in keeping our ocean healthy. And that should be the overriding reason why we respect and protect sharks.
A quick overview of the components of the report:
To request the full report, please contact us via email.
SPECIAL THANKS
Endangered Wildlife OÜ and Shark Allies would like to thank Dr. James Ketchum, Dr. Mauricio Hoyos, and Dr. Omar Santana-Morales for their expert advice in preparing this report and Jennifer Williams, for her financial support.