Obviously inhumane, repulsive to anyone who cares about animals, and damaging to the ecosystem, what can be said for the industry? Economic value is often cited in defense of trophy hunting, however, its true contribution is negligible.
A 2006 study called "Economic and conservation significance of the trophy hunting industry in sub-Saharan Africa" (Lindsey et al.) found that the industry is worth about 200 million dollars, an oft-cited statistic to demonstrate the value of trophy hunting for the economy. However, they go on to say that "trophy hunting is most significant in Botswana (0.13% of GDP)." So, where trophy hunting is the most important, 99.87 percent of the GDP is sustained without it.
Furthermore, couldn't the industry eliminate the hunting aspect and stick to visual safaris? Kenya is an example of a country where the outlaw of trophy hunting has not significantly hurt the economy, and where ecotourism is a fine source of capital. Another argument for trophy hunting is that its proceeds go to conservation. Even if this is true, which many studies suggest it is not, it clearly doesn't really help, seeing as the population of certain African animals has been in steady decline for decades now.