The OECD reports that the global ocean economy, valued at $2.3 trillion in 2020, has doubled since 1995 but may face stunted growth due to climate change, environmental degradation, and digital lag. Essential for food security and global trade, the ocean economy contributes 3-4% of global GDP and is projected to nearly quadruple by 2050. However, protecting marine ecosystems and adopting sustainable policies are crucial for maintaining this growth in light of rising threats including population pressures and illegal activities.
The global ocean economy could be at risk of major disruption without increased protection, highlighting the need for urgent action to improve sustainability.
The ocean economy doubled in size between 1996 and 2020, contributing three to four percent of total global GDP, supported by tourism and offshore oil and gas.
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