Economic comparison between offshore and inshore aquaculture production systems of European sea bass in Italy

Offshore production system is predicted to increase in the near future driven by the lack of coastal space and lower environmental impacts. The aim of this paper has been to evaluate the economic performance of offshore production system respect to inshore one, by comparing net present value (NPV), discounted payback time (DPBT) and internal rate of return (IRR) of two Italian mariculture farms that produce European sea bass. Results showed a better economic profitability of offshore farm, even if sensitivity analysis revealed that financial indicators of both aquaculture production systems have been very sensitive to market condition changes. So, offshore production system could represent an opportunity for fish farmers to increase their profitability, obtaining a more sustainable production and avoiding possible conflicts with other human activities in coastal areas. (C) 2014 Elsevier B.V. All rights reserved.