The blue economy is the winning card for coastal countries. According to the World Bank, which defines the emerging concept as “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems,” ocean-based industries will outperform “the growth of the global economy in the years ahead, doubling their contribution to GDP by 2030.”
On a global scale, the blue economy offers 350 million job opportunities. It contributes more than 30 per cent of Vietnam’s GDP, seven per cent of Singapore’s, and has created 34 million jobs in China.
In Egypt, the blue economy makes up a meagre 2.2 per cent of GDP. This is despite the fact that Egypt enjoys an important geographical location with coasts extending over 3,000 km on the Red and Mediterranean Seas and the Gulf of Aqaba and 50 marine ports with 197 terminals stretching for 37.5 km.