ABSTRACT
Caribbean countries face many challenges to effectively implement and benefit from the blue economy. This study synthesized current available information from the literature about the main blue economy activities in the Bahamas, Barbados, Belize, Guyana, Jamaica, Trinidad and Tobago, and Suriname, prior to the COVID-19 pandemic, to highlight their value in the context of blue economic recovery. This timestamp of data provides a point of comparison to understand the vulnerability of blue economy sectors to external shocks. The top performing sectors prior to the pandemic were shipping and tourism, both of which were significant contributors to the GDP. The other sectors (e.g. fisheries, aquaculture, pharmaceuticals, etc.) in some countries were well established and in others, at a minimum, displayed potential for continued development. To valorize the blue economy in a post pandemic recovery, there are three core areas of opportunity: sustainable resource extraction and production;cultivated economic development;and improved ecosystem economic valuations. Harnessing these opportunities will require a transition from a traditional ocean economy towards a coordinated blue economy, including the adoption of effective governance and sustainability principles, improved social, economic, and environmental valuations, and sustainable financing, as well as a more regional coordinated approach to the management of resources.
ABSTRACT
Global climate change and COVID-19 epidemic in recent years have made the recovery and sustainable development of marine tourism an important topic for coastal international and regional economic and social development. Under the theme of “Asia’s Development: Shared Ocean Economy”, experts, scholars and business representatives from Asian countries in the field of marine civilization construction and marine tourism economy engaged in fruitful discussions at the Asia Conference on Marine Tourism 2022, revolving around “The Construction and High-quality Development of Marine Tourism Destination”. This provides theoretical support as well as practical reference for the innovative development of marine tourism in Asia, and results in a broad consensus of cooperation, dialogue and win-win situation. The conference launched The Ningbo Initiative for Asian Marine Tourism Development, which advocates sharing sustainable development of marine economy, promoting exchange and mutual understanding of marine civilization, promoting common development of marine tourism, and building a community of marine destiny together. Besides, there was the Ningbo marine tourism promotion session, which presented the results of industry development such as the display of marine tourism equipment and the promotion of marine tourism projects.