The Blue Economy
What is the Blue Economy?
The Blue Economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health. The Blue Economy encompasses many aspects...
Fisheries
Marine fisheries contribute more than US$270 million annually to global GDP
Maritime Transport
Over 80% of international goods transported by sea and the volume of seaborne trade is expected to double by 2030 and quadruple by 2050.
Waste Management
80% of litter in the ocean is from land-based sources. Better waste management on land can help oceans recover.
Tourism
Ocean and coastal tourism can bring jobs and economic growth; Coastal Least Developed Countries and Small Island Developing States receive more than 41 million visitors per year.
Climate Change
The impacts of climate change on oceans – rising sea-levels, coastal erosion, changing ocean current patterns, and acidification – are staggering. At the same time, oceans are an important carbon sink and help mitigate climate change.
Source: World Bank Group, 2017
The Blue Economy in St. Lucia (statistics TBA)
Blue Economy Sectoral Objectives
To leverage the sector’s full potential by adopting a climate-resilient approach to growth and development, which facilitates the sustainable recovery and adaptation to climate change.
To facilitate the continued recovery of the sector post-pandemic, by increasing access to financing for investment in productivity enhancements, digital technologies, and product diversification.
To propel the sector towards the minimization of waste for final disposal through the development of a waste management policy, more effective waste disposal, increased waste segregation, and the assessment of potential new landfill sites.
- sustainable alternative to traditional tourism practices
- focus on coastal and maritime areas
- designed with activities of a low environmental impact
- emphasis on the conservation of natural resources
- increased promotion of local communities.