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Indian Ocean : Importance of blue economy


Over the past decade, the concept of the “blue economy” has gained significant international attention. Blue economy is a term formulated by small island states based on the United Nations’ term “green economy.” The blue economy advocates the same desired outcomes as the green economy—improved human well-being, social equity, and environmental sustainability—but is better adapted to the unique geographies of island states.55 The blue economy encompasses the development of an ocean-based economy, including fishing, shipping, maritime transport, coastal tourism, marine energy, sea-based products, and more. According to the United Nations, “The concept of the blue economy offers [small island developing states (SIDS)] the prospect of sustainable and environmentally sound and moreover socially inclusive economy growth.”56 Although the concept of the blue economy is championed by island states, its significance and relevance has grown for all nations with large maritime zones.

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Indian Ocean : Importance of blue economy