Renewable Matter # 2 / Numero #2

The Blue Economy Is Worth 500 Billion Euro

by Ilaria Nardello

With the Blue Growth Strategy (2012), the EU Commission has clearly identified the seas’ and oceans’ great potential to contribute to Europe’s long term plan for smart, sustainable and inclusive growth. According to the Commission’s Directorate-General for Maritime Affairs and Fisheries (DG Mare), the “blue” economy represents roughly 5.4 million jobs and generates a gross added value of almost €500 billion a year.

According to the Commission, sea-related industries and their services generated between 3% and 5% of Europe’s GDP, in 2007: spanning from the 1.2% of GDP of Ireland’s ocean economy; to 4.2% in the UK. The objective of our policies is to nearly double those values by 2020. More precise and detailed estimates are in fact needed when we wish to quantify the...

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