Ireland’s maritime economy in the blue, say researchers

Ireland’s maritime economy is growing nearly twice as fast as the general economy. And the importance of harnessing the ocean, even more, will be highlighted at a major conference next month.

The Socio-Economic Marine Research Unit has reported the maritime economy increased 9% from 2010 to 2012, compared to a 4.47% GDP increase during the same period.

The unit, based at NUI Galway, said that during the same period the “blue economy” employment increased from 17,425 to 18,480 full-time equivalents.

The report comes ahead of a conference focusing on the country’s maritime economy which will take place in Ringaskiddy, Cork, on July 10.

DISCOVER MORE CONTENT LIKE THIS

Global leaders in the industry will address the Our Ocean Wealth conference which is expected to be attended by 600 delegates. They will include senior figures in the Organisation for Economic Co-operation and Development and the European Commission.

The conference will be opened by Agriculture and Marine Minister Simon Coveney and it will form part the SeaFest 2015, Ireland’s Maritime Festival.

“Ireland’s blue growth shows the enormous potential of our incredible marine resources,” the minister said.

“And the opportunity, highlighted in the government’s integrated marine plan ‘Harnessing Our Ocean Wealth’, to enable this sector to be a key driver in our economic recovery, providing social and cultural benefits as well as economic return for Ireland.”

The EU commissioner for environment, maritime affairs, and fisheries Karmenu Vella will lead discussion on management and governance of our oceans, enhancing Europe’s maritime competitiveness, while continuing to protect the environment.

The OECD will be represented by Barrie Stevens, head of the international futures programme, and he will deliver a keynote address on the future of the marine economy.

There will also be a number of speakers from indigenous companies including Port of Cork chairman John Mullins and Yvonne Shields, the chief executive at the Commissioners of Irish Lights.

DISCOVER MORE CONTENT LIKE THIS