Year: 2024
Type: article
Abstract: A sustainable ocean economy, or blue economy, encompasses economic activities utilizing marine resources while prioritizing the long-term health of oceans. While its potential to contribute to Gross Domestic Product (GDP) is acknowledged, limited research explores its specific influence on national economic performance. This study investigates how a sustainable ocean economy impacts GDP by examining the balance between economic development and environmental stewardship. Through literature review and empirical analysis, four key sectors—sustainable fisheries, marine biotechnology, renewable energy, and government policies—are identified as significant contributors to GDP. The study also highlights the role of open trade in boosting economic growth. Findings indicate that well-managed sustainable ocean economies enhance GDP, promote social well-being, and strengthen environmental resilience. The research emphasizes the necessity of integrated policy frameworks that support sustainable practices and investments in marine resources. By underscoring the blue economy's potential as a driver of economic development, this study advances current literature and advocates for its pivotal role in fostering national prosperity and sustainability.
Source: Cogent Economics & Finance
Author: Ngan Bich Nguyen
Institution: Banking Academy of Vietnam
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: gold
Estimated APC paid: $1,165
Funder: University of Southampton
OpenAlex ID: W4405018253