The oceans are no longer viewed merely as vast bodies of water. They are increasingly recognised as powerful drivers of economic growth and sustainable development. According to the World Bank, the term Blue Economy refers to “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems”. It spans a wide range of sectors, including fisheries and aquaculture, ports and shipping, shipbuilding, marine renewable energy, offshore oil and gas, marine tourism and deep-sea mining. The Blue Economy was valued at around USD 2.85 trillion in 2024 and is expected to grow at an annual rate of 6.4 per cent, surpassing USD 5 trillion by the early 2030s.

Maldives heavily relies on ocean-based activities, with the Blue Economy contributing over one-third of GDP, driven largely by coastal tourism.

Maldives heavily relies on ocean-based activities, with the Blue Economy contributing over one-third of GDP, driven largely by coastal tourism.

According to the US National Oceanic and Atmospheric Administration (NOAA), the US marine economy contributed USD 476 billion to the national GDP in 2022, accounting for 1.9 per cent of the economy while supporting 2.3 million jobs. The sector added more than 500,000 jobs between 2021 and 2024, underscoring the growing economic importance of the Blue Economy. According to China’s Ministry of Natural Resources, China’s gross ocean product reached 11.02 trillion yuan (approximately USD 1.6 trillion) in 2025, accounting for 7.9 per cent of the country’s GDP.

China’s Blue Economy has emerged as a key pillar of its economic growth. Through sustained investment in shipping, shipbuilding, fisheries, offshore energy, marine manufacturing, coastal tourism, and ocean technology, it has built one of the world’s largest and most dynamic maritime........

© Daily Times