By 2025, Australia’s marine industries will contribute around $100 billion each year to our economy, with our oceans and coasts providing a further $25 billion worth of ecosystem services, such as carbon dioxide absorption, nutrient cycling and coastal protection.
This marine economy is projected to grow three times faster than Australia’s gross domestic product over the next decade, more than doubling its 2012 contribution of $47.2 billion.
Global ocean economic activity is estimated to be in the realm of USD $3–5 trillion. The economic potential of the world’s oceans is significant; countries and businesses are increasingly thinking about how to tap ocean resources for economic growth and investment.
However, unchecked economic ocean activity poses a real threat to the ecological health of the world’s oceans. Our oceans are increasingly under stress.
A blue economy is one which strikes the right balance between reaping the economic potential of our oceans with the need to safeguard their longer term health. A blue economy is one in which our ocean ecosystems brings economic and social benefits that are efficient, equitable and sustainable.
Australian Government Department of Foreign Affairs and Trade 'innovationXchange' and CSIRO hosted an Innovation for the Blue Economy Workshop in August 2015 which assembled Blue Economy experts from around Australia to discuss challenges and barriers to economic growth in our oceans as well as uncover highly innovative ideas that promote sustainable development in the Blue Economy. The Workshop focussed on four major categories: harvesting of living resources; extraction of non-living resources and generation of new resources; commerce and trade in and around the ocean; and responses to ocean health challenges.
The infographics below were produced for the National Marine Science Plan 2015–2025.
They can be downloaded by clicking on the images.