SEARICA Webinar on Sustainable Tourism
August 24, 2020
Webinar Series – coming soon
October 16, 2020

Challenges and Opportunities for Ocean Economy Industries

August 29th 2020

MOSES co-ordinator Dr. Stephen Hynes and Prof. Alan Ahearne, both of SEMRU, NUI Galway recently presented an overview of the challenges and opportunities currently facing ocean economy industries to the Inter-Departmental Marine Coordination Group (MCG) convened by the Irish Department of the Taoiseach. Based on the MOSES framework, updated figures on the value of Ireland’s ocean economy in 2019 were also presented. The implications of a number of global economic developments for Ireland’s ocean economy industries were discussed. In particular, three global economic developments that will most affect the performance of ocean economy industries in the near- and medium-term were identified: (1) the COVID-19-related recession, (2) Brexit, and importantly from a sustainability perspective, (3) the transition to a low-carbon economy. In line with the MOSES project, the objective of the invited presentation and report was to provide background and contextual information for marine policy makers in strategic planning for the sector over the next decade. The presentation and subsequent discussion explored the case for increased public and private investment in ocean economy industries, with the COVID crisis posing both challenges and opportunities for the EU Atlantic Area’s ocean economy. Other key questions related to the MOSES case studies that were discussed included:

  • What is the potential of offshore wind to help Ireland to meet its targets for domestic renewable energy supply and to build a productive energy export sector?
  • With proper State support, can marine and coastal tourism be an engine for recovery in the broader tourism sector?
  • How can policy aim to develop improved downstream supply chains at home for Irish seafood?
  • Does marine aquaculture have the potential for major expansion?