Estimating The Economic Benefits Of Regional Ocean Observing Systems

We develop a methodology to estimate the potential economic benefits from new investments in regional coastal ocean observing systems in US waters, and apply this methodology to generate preliminary estimates of such benefits. The approach focuses on potential economic benefits from coastal ocean observing information within ten geographic regions encompassing all coastal waters of the United States, and within a wide range of industrial and recreational activities including recreational fishing and boating, beach recreation, maritime transportation, search and rescue operations, spill response, marine hazards prediction, offshore energy, power generation, and commercial fishing. Our findings suggest that annual benefits to users from the deployment of ocean observing systems are likely to run in the multiple $lOOs of millions of dollars per year. The project results should be considered first-order estimates that are subject to considerable refinement as the parameters of regional observing systems are better defined, and as our understanding of user sectors improves.

In this publication, [authors] focused on five important activities in The Gulf of Maine: maritime commerce, commercial fishing, recreational fishing and boating, search and rescue, and pollution management, specifically oil spill management. For each area, the sources of benefits were defined and estimates were made of the size of the activity in the region from which benefits may be derived. The results of their analysis suggests strongly that the benefits from a regional ocean observing system in the Gulf of Maine will exceed its costs, although more precise measurement is required before the actual magnitude of benefits can be estimated.

The long-term goal supported by this project is the development and sustained support of coastal ocean observing systems for the waters of the United States. The authors will first produce regional "inventories" of ocean observation user sectors, including information about the physical and economic scale of their activities, how products from improved ocean observation might be incorporated into their decisions, and a rough estimate of the potential value of improved decisions. Once the inventories are complete, they will select sectors with significant expected benefits for more detailed analysis.

Coastal Ocean Observing Systems provides state-of-the-art scientific and technological knowledge in coastal ocean observing systems, along with guidance on establishing, restructuring, and improving similar systems. The book is intended to help oceanographers understand, identify, and recognize how oceanographic research feeds into the various designs of ocean observing systems. In addition, readers will learn how ocean observing systems are defined and how each system operates in relation to its geographical, environmental, and political region. The book provides further insights into all of these problem areas, offering lessons learned and results from the types of research sponsored and utilized by ocean observing systems and the types of research design and experiments conducted by professionals specializing in ocean research and affiliated with observing systems. Includes international contributions from individuals working in academia, management, and industry Showcases the application of science and technology in coastal observing systems Highlights lessons learned on partnerships, governance structure, data management, and stakeholder relationships required for successful implementation Provides insight into how ocean research transfers to application and societal benefit

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Policy planning & governance; Economic & social issues & perspectives; Natural & human-induced disasters; Environment; Assessment methodologies.

The world ocean is a life-supporting system for humanity, yet it remains largely unknown. Based on data collected from around the world, the Global Ocean Science Report 2020 offers a global record of how, where and by whom ocean science is conducted. It monitors our capacity to understand the ocean and seize new opportunities. More generally, the Report underlines the essential role of ocean research and international cooperation for all key issues of the 21st century.