Sustainable Fishing And Financial Management: Enhancing Small-Scale Fisherfolks Economic Growth And Resilience – Evidence From Calatrava, Romblon, Philippines

Abstract

Controlled by unsustainable fishing and improper financial management, small fishing communities in coastal areas often require assistance to maintain economic stability and sustainable livelihoods. The study investigated how sustainable fishing practices and financial management strategies contribute to economic growth and livelihood resilience among small-scale fisherfolk in Calatrava, Romblon, Philippines. The data were gathered from among 112 registered fisherfolk quantitatively, and mean, regression, and Pearson's correlation analyses were used to investigate economic growth and livelihood resilience. The study found a positive effect on fish effort and catch composition in sustainable fishing practices and a considerable positive impact on financial literacy education, market access, and sales strategies. Likewise, a significant correlation was found between sustainable fishing practices, financial management strategies, and economic growth and resilience. Combining sustainable fishing practices with financial education programs can significantly improve the well-being of fishing communities.