Preliminary studies on economic implications of improved ocean observing systems in the US and Japan

Ocean observing systems are now being developed as integrated and advanced operational monitoring systems in many parts of the world. Questions about their likely costs and benefits are important to the prioritization and implementation of observing system components. Under the auspices of the National Oceanographic Partnership Program (NOPP), a US study is underway to estimate the potential economic benefits from improved coastal ocean observing system information. This work focuses on the user sectors of such information, including search & rescue, maritime transport, fishing, spill response, coastal hazards mitigation, and how better information might improve economically important decisions. For the nation as a whole, these initial estimates suggest potential benefits from improved coastal ocean observation and resulting nowcast/forecast products of several hundred million dollars per year. In Japan, scientists and engineers have initiated a study of a networked monitoring system called ARENA (Advanced Real-time Earth monitoring Network in the Area) to be deployed around Japan. Efforts are underway to estimate the foreseeable cost to set up, maintain, and repair the system, and to compare these costs to its expected contribution to society and the national economy. A first step in this cost/benefit analysis was to review established methodologies and identify useful approaches. Once these approaches were selected, some preliminary examinations were executed. The result shows that the system may bring significant economic value by mitigating or preventing disasters in the wake of heavy earthquakes and/or tsunamis