Defining and quantifying the sea-based economy to support regional blue growth strategies – Case Gulf of Bothnia

Abstract

European Union (EU) strategy on blue growth has directed interest in the debate on utilizing marine resources. At the same time, EU Member States are taking the first steps in doing maritime spatial planning (MSP). For strategic planning such as MSP and prioritizing future investments, governments and policy makers are in need of economic indicators for the blue economy. Although in all parts of the world the sea has traditionally been the driver for the growing economy, research on the economic value of the blue economy has been limited. However, when MSP is becoming the norm, evaluating the existing blue economy becomes more important. In this paper, the economic significance of blue economies is estimated for the Gulf of Bothnia (GoB) region of Finland. By conducting a case study on the current situation of the blue economy in a specific region it is possible to bring the discussion of blue growth to a practical and local level. The GoB was seen as a potential area to study blue growth or the blue economy because of the already existing active maritime sector and the relatively pristine environment. The core problems of defining and quantifying multi-sector resources such as the blue economy will be discussed, and comprehensive data to scrutinize the blue economy sector in the GoB will be provided. This study stresses the importance of local economic data to be able to understand the potential of blue economies.