(27 June 2018) – The EU’s Blue Economy – all economic activities related to oceans, seas and coastal areas – is growing steadily, according to the EU’s first annual report on the blue economy. With a turnover of € 566 billion, the sector generates € 174 billion of value added and creates jobs for nearly 3.5 million people.
The blue economy covers established sectors such as fisheries, shipbuilding and tourism as well as emerging industries, including ocean energy and biotechnology.
In several EU member states, the blue economy has grown faster than the national economy in the last decade. During the financial crisis, the blue economy proved more resilient in those member states, softening the effects of the downturn on coastal economies.
The report presents the current status and recent trends in the six established blue economy sectors in different EU Member States, to gain insight into where new opportunities and sustainable competitive advantage may be found.