Data-Based Analysis on the Economic Value of Fishery Observer Programs in International Fisheries Management: Insights from Korea’s Distant Water Fisheries

This study estimated the economic value of international fisheries observer programs for Korean distant water fisheries using the contingent valuation method (CVM). The model included economic factors, socio-demographic variables, and proxy variables that reflected participants’ familiarity with seafood consumption. An online survey was conducted with 16,924 participants, of whom 1000 provided usable responses (resulting in a final response rate of 5.9%). The survey results indicated that 74.2% of households were willing to pay to support international fisheries observer programs. The weighted average willingness to pay (WTP), adjusted for the participation rate, was estimated at USD 7.01 per household, leading to an annual aggregated WTP of USD 153,097,825. These findings highlight the significance of international fisheries observer programs in promoting the sustainability and effective management of Korean distant water fisheries.