Implementing Jamaica’s Blue Economy Future: Understanding Stakeholder Perceptions, Risks and Opportunities, Along With Associated Implications for Marine Ecosystems, Resource Management

Abstract

Globally and locally, whilst the blue economy may be the latest or last investment frontier in the absence of pursing space or mass scale resource recycling or the circular economy; understanding the mechanisms, core risks, opportunities, priorities and insights of stakeholders remains far less understood. In contrast to myriad studies on conventional economy, green economy and individual sectors comprising the blue economy; most holistic attempts focus on definitions rather than specific case studies. In a world professing the need for greater transparency, many experiences remain opaque, the subject of consultancies, aid donors, investors and policymakers or business supply chains, often working with a segmented, silo mentality rather than holistic vision. Yet, this can lead to expensive problems of delays, unimplemented or duplicated projects, failures to effective coordinate and prioritise risks or opportunities, often squandering scarce resources, especially compounding the issues of smaller islands/developing nation states. This despite increasing significance and attention committed to the blue economy, increasing the challenges and adjustment expense, maximising disruption risks. Through desktop research and interviews/surveys with 89 stakeholders, this research based on a January to September 2022, World Bank consultancy, aims to provide a pioneering insight of a coordinated effort. In 2020 Jamaica’s blue economy contributed 19.5% of 2020 GDP or US $2,544 billion despite the challenges of the COVID-19 pandemic. Blue economy wages reached 18.7% of 2020 GNI. Total direct employment was calculated at 514,000 or 36.8% of the employed labour force. Despite initially fragmented legislation, finance and stakeholders, 25% stakeholders primarily recommended investing in additional human resource capacity (25%), marine pollution, and 15% each in IUU fisheries, offering specific leadership and support politically and legally/from a policy perspective. 41% recommended investing in growing mariculture. 35%: valued Marine Protected Areas (MPAs) and fish sanctuaries, blue bonds, blue carbon and biodiversity offsets. 30%: advise cultural, heritage, adventure, eco and nautical/yachting tourism opportunities. floating boardwalk / Caribbean smaller ports, luxury-high end tourism markets and cultural events. 30% favoured marine renewable energy and energy /eco-efficiency. 20% proposed alternative fuels, biofuels and decarbonisation of ports, vessels. 18% expressed hope in plastics/other forms of recycling and circular economy to address marine pollution. This provides the basis for improving decision-making, marine resource management, ocean governance, reduced conflicts and international cooperation for a more effective blue economy implementation for Jamaica and the Caribbean.