By Tim Ward
There is currently an estimated economic gap (lost profit) in the CRC participant fisheries of approximately 40% or $200 million per annum.. If the economic gap could be halved from 40% to 20% the profitability of CRC fisheries would be improved by approximately $100 million. This project aimed to contribute to that outcome by identifying practical opportunities to improve their economic performance. This will be done by:
- Identifying key impediments to wealth creation (i.e. factors contributing to high costs and low revenue) in selected CRC fisheries.
- Describing the innovative operational procedures, business structures and fisheries management systems that have been established to improve the economic performance of successful fisheries worldwide.
- Identifying practical opportunities to improve the economic performance of CRC fisheries and outlining a pathway to adoption.
Therefore, this project aimed to:
- Assess the performance and identify impediments to wealth creation in selected CRC fisheries.
- Describe and evaluate innovative systems that have been established to improve the performance of successful fisheries worldwide.
- Identify practical opportunities for overcoming impediments to wealth creation and improving the performance of selected CRC fisheries.