Unlocking the full potential of the blue economy : are African small island developing states ready to embrace the opportunities?

Abstract

The blue economy focuses on areas such as fishing, shipping and maritime transport, coastal tourism, marine energy (fossil and renewable, such as wind energy, tidal energy, and energy derived from marine microbial fuel cells); pharmaceutical and cosmetic industries, genetic resources, general sea-based products and blue carbon trading opportunities. This approach, based on SIDS’ strengths in coastal and marine sectors, offers SIDS the prospect of sustainable and environmentally sound and moreover socially inclusive economic growth. The objective of the present report is to examine the importance of the blue economy for African SIDS and the future challenges and opportunities this sector presents. As there is no global blue economy strategy at present, this report also adds to the global blue economy strategy for SIDS in general.