The 2024 edition of the EU Blue Economy Report offers an in-depth analysis of the economic sectors linked to the ocean, seas, and coasts within the European Union (EU). The blue economy, which includes sectors like fisheries, coastal tourism, shipping, and marine renewable energy, has shown significant growth despite challenges such as the COVID-19 pandemic and rising energy prices.
Key Highlights from the report include:
- Showcasing strong overall performance: The EU blue economy employed 3.6 million people, a 17% increase compared to 2020, and generated nearly €624 billion in turnover in 2021, a 21% rise from 2020. The Gross Value Added (GVA) increased by 35% to €171 billion compared to 2020.
- Demonstrating sector-specific trends: Coastal tourism remains the largest sector, contributing 29% of the GVA and 54% of employment, though it hasn’t fully rebounded from the pandemic. Maritime transport, marine renewable energy (especially offshore wind), and marine living resources also exhibited strong growth.
- Potentiating energy transition: The report emphasizes the blue economy’s role in the energy transition, particularly in marine renewable energy, which aligns with the EU's climate goals. Sectors like blue biotechnology and desalination are also contributing to this shift.
- Pointing out challenges: The EU fishing fleet faces difficulties due to rising fuel prices, which have offset gains in fuel efficiency despite efforts to reduce CO2 emissions. The report also warns of significant economic risks from coastal flooding due to climate change, with potential damages ranging from €137 billion to €814 billion by 2100.
Published by the Directorate-General for Maritime Affairs and Fisheries (DG MARE) and the Joint Research Centre of the European Commission, this report serves as a vital resource for understanding the blue economy's contribution to sustainable growth and the energy transition in the EU.
Read the full report here.
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Additional information
About the EU Blue Economy Report
The EU Blue Economy report is the annual flagship publication of the Directorate-General for Maritime Affairs and Fisheries (DG MARE) and the Joint Research Centre of the European Commission. It offers an in-depth analysis of the scope and size of the blue economy in the European Union. This year we publish its seventh edition, which presents the latest available data (2021).
Combined with the EU Blue Economy Observatory platform, the report provides an overview of key socio-economic performance indicators per sector, activity, and country. In addition to providing more regular updates, the observatory sheds further light on the potential for economic growth, sustainability transition, and job creation of the blue economy sectors.
More details about the analytical methodologies are available via the blue economy observatory website. Further analysis will be published throughout the year, along with the most recent data once it becomes available.
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