This report examines the economics of the two seal based industries in Namibia: seal hunting and seal watching. The report aims to compare and contrast the economics of the two industries that both rely on populations of Cape fur seals along Namibia's extensive coastline. Seal hunting is undertaken annually in three locations; Cape Cross, Wolf Bay and Atlas Bay. The industry had an estimated landed catch value in 2008 of USD$513,000 from 58,000 pups and 5,500 adult seals slaughtered. Seal watching is a popular tourism activity undertaken by around 10% of total tourist arrivals to Namibia: just over 100,000 people in 2008. Of the tourists undertaking seal watching, approximately 70% are international arrivals. Based on 2008 figures, the industry generated just over USD$2 million in direct tourism expenditure.