The last few years have seen a spectacular increase in attention devoted to the need to protect the world’s ocean and seas. At the same time, interest has been growing in the huge potential offered by the future development of ocean-based industries. Striking the right balance means greatly enhancing efforts to address the challenges of sustainable use of the ocean.
This week, the Organisation for Economic Co-operation and Development (OECD) released the publication 'The Ocean Economy in 2030' which explores the growth prospects for the ocean economy, its capacity for future employment creation and innovation, and its role in addressing global challenges. Special attention is devoted to the emerging ocean-based industries in light of their high growth and innovation potential, and contribution to addressing challenges such as energy security, environment, climate change and food security.
Calculations on the basis of the OECD’s Ocean Economy Database estimate the ocean economy’s output in 2010 at USD 1.5 trillion in value added, or approximately 2.5% of world gross value added (GVA).
Policy makers need to:
- Foster greater international co-operation in maritime science and technology as a means to stimulate innovation and strengthen the sustainable development of the ocean economy;
- Strengthen integrated ocean management;
- Improve the statistical and methodological base at national and international level for measuring the scale and performance of ocean-based industries and their contribution to the overall economy;
- Build more capacity for ocean industry foresight.
Read the full report here.