Marine industry: Making most of our blue economy

Over 10 times the landmass of our nation, the seabed around Ireland is the source of untold wealth and potential, if it is used effectively and responsibly

PROVING the enormous potential of Ireland’s maritime industry, the nation’s ‘blue economy’ outperformed the general economy throughout one of the biggest financial recessions in history.

According to the most recent report on Ireland’s Ocean Economy, published Socio-Economic Marine Research Unit at NUI Galway, Ireland’s maritime economy grew by 9% in the period 2010 to 2012, while growth in Irish GDP during the same period was only 4.75%. In the period 2012 to 2014, the blue economy has continued to outperform the national economy with growth rates of 8%, and employment increasing from 17,425 to 18,480.