Most of the living things depend on the ocean. ‘Blue growth’ has become one of the fastest fashionable terms. On the concept of green growth, by using natural resources how national or international strategies can achieve economic development. Marine-based industries have already contributed to plenty of growth opportunities to the global economy. The challenge in this part is to manage that growth sustainably and equitably. These discussions are issues related to food security and nutrition, climatic change and recreation, and cultural uses of the ocean. There are four dimensions to a blue growth strategy and let’s look over them.
Preserve the ocean’s natural assets:
Fish stocks are the most obvious asset in the world’s blue economy. Fishers play a vital role in the ocean economy as a source of food, nutrition, and livelihoods, especially for the poorest and most vulnerable in the developing world. For economic growth, they also serve as an engine. The important contribution is to harvest fisheries at sustainable levels to ensure a continuous supply.
The center of achieving the goal is establishing regulations and tackling illegal fishing. Currently, it is projected that 20% of marine catches are illegal. The world economic forums global agenda council on oceans has helped foster initiatives by working with the metro group and others to improve the product traceability and transparency in the fish supply chain to help and address this challenge.
Improve our coastal environments:
One of the keys to people’s health and well-being is to ensure the environmental quality of coastal communities, and it is also vital for sustainable ocean economy growth. Due to the rapid coastal development, emerging economies change land-use patterns, increasing coastal populations, and industrial development. The environmental pressures can only be mitigated if local and national governments plan to develop effective and invest appropriately.
One of the keys to a healthy ocean is taking effective measures to treat sewage and manage industrial waste and agricultural run-off. Improving the water quality of rivers running to the sea through urban and industrial areas is an important element of any plan.
Opportunities to capture marine-based economic:
The industries like oil and gas make bulk contributions to the marine-based industries. For wealth generation, there is considerable potential for the oceans to provide new opportunities. Deepsea mining is one of the rapidly emerging opportunities. The environmental consequences of DSM also need to be better understood and included in the common framework.
Sustainably increase ocean productivity:
The core to blue growth is creating sustainable benefits from ocean productivity as global demand for the fish increases and catches from wild-capture fisheries level get off. By this marine, farming is one of the significant areas to explore. Efforts to increase marine farming may only be successful if their demands on the environment are managed.
The government should take care of the ocean resources while boosting economic growth. The above listed are some growth strategies to improve the ocean’s economic growth.