There is a distinct possibility that the elephant owes its existance to managed big game hunting. Several African countries protect their herds very well and now there are more elephants locally than the range can support. They are now eating crops.
Well thought out big game hunting not only allows the local elephant herds to be managed, but as big game hunts are very expensive permit wise and involve alot of "over the top" luxury accomodations, they bring alot of money into the local economy. As another poster mentioned, the people in the area then see the animals as a renewable recesource that they need to protect- instead of viewing them as 10 ton pests.
The local guides, the local schools, and the local clinic are probably also proud that they have a renewable natural recourse that people want to pay big money to harvest (Ok, to shoot).
Modern Big Game outfitters not only practice responsible herd management, but they regularly involve the local people in all aspects of the industry and also make donations to local schoools, clinics etc. According to a business friend that I knew 12 years ago, permits to hunt "Big Five" type game run upto $35,000 dollars. Predator permits were even more. Needless to say, the prices are even higher today- which is more incentive for local people to protect their (not PETA's) renewable natural recesources.