A recent study published in the journal "Biological Conservation" found that sharks and rays contributed $114 million to the Bahamian economy in 2014 and that this country has the largest shark diving industry in the world.
The study also found that the industry benefits economically deprived islands the most, and the potential for shark diving has been under-realized on those islands.
"This study establishes The Bahamas' dive industry as the largest in the world, contributing approximately US$113.8 million annually to the Bahamian economy in direct and value-added expenditures," the article said.
"Elasmobranch tourism generated 99 percent of the total revenue, and the balance was generated by film and television and research. The relative economic importance of shark diving was greater in economically disadvantaged out islands, where specific charismatic species are sought."
The study was penned by Edward Brooks and Andrea Haas, from the Shark Research and Conservation Program at the Cape Eleuthera Institute, and Tony Fedler, from the University of Florida.
Of the 44 scuba dive operators in The Bahamas, 28 were interviewed for the study. The study notes that 45,082 divers came to The Bahamas in 2014, of whom 43 percent came to dive with sharks.
"All divers made a total of 157,344 diver days, and shark divers represented 63,191 of those diver days," the study states.
According to the Bahamas National Trust (BNT), the study is the first of its kind to "estimate the full economic impact of shark-related activities in The Bahamas". The study was supported by The Pew Charitable Trusts.
Executive Director of the BNT Eric Carey said: "We still get questions from folks about the status of sharks in The Bahamas. We hope that through our continued education about the economic and ecological importance of sharks, that the fear of them will decrease and reduce incidents of sharks being killed throughout The Bahamas."
In 2011 The Bahamas moved to protect its shark populations and prohibited commercial shark fishing and the sale, importation and export of shark products.

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