There is substantial differentiation across Namibian community conservancies in the costs and returns from living with wildlife. Real returns rose between 1998 and 2017, albeit unevenly. Those bordering national parks, and with higher game counts, earned more. Large livestock predators (lion, leopard, hyaena, cheetah, wild dog) had the greatest impact on human-wildlife conflict costs across all regions. As of 2017, more than a fifth of conservancies had higher estimated costs than economic returns from hunting and tourism. More resources are required to support Namibian conservancies if this is to be a sustainable model, especially as coronavirus limits international travel.