The Rationale, Status Quo and Suggestions for the Caribbean Blue Economy

Tianchen Huang ()
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Tianchen Huang: Shandong University, School of Northeast Asia Studies

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 818-828 from Springer

Abstract: Abstract The blue economy is a marine economy infused with the concept of sustainable development. It aims to promote economic growth, improve people's lives and protect the marine ecological environment through the sustainable development and utilization of marine resources. The blue economy has become the mainstream paradigm leading the development of the global marine economy. Caribbean countries also suit to the blue economy. However, Caribbean countries are facing multiple challenges that may constrain development potentials, such as the current degradation of resources and ecosystem, limited internal and external financial support, and weak research capacity. To resolve these challenges, Caribbean countries should establish an integrated ocean governance framework, attract investment for the blue economy and encourage more education and research opportunities. In the current era, the blue economy will surely become the way for Caribbean countries to achieve greater development and will occupy an increasingly important position in the regional governance system.

Keywords: Blue Economy; Caribbean Region; Ocean (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-052-7_93

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DOI: 10.2991/978-94-6463-052-7_93

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