BENEFITS OF AUSTRALIA'S MARINE ESTATE
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.