Maldives Shows The Way To A Thriving 'Blue Economy'
(MENAFN- Asia Times)
The Maldives' ocean ecosystem has cared for, fed and employed its population for centuries. It has propelled the country into a top luxury tourism hotspot, with one of the highest blue Economy ratios worldwide, accounting for over 36% of its total GDP.
This strong connection between the environment, its people and the economy is critical for the Maldives. Already battling the recurring effects of climate change, an increase in temperature of just 1.5 to 2 degrees could mean the difference between existing as a nation and being a memory on the world map.
Against all odds, the Maldives has pioneered a development model centered around some core elements of the Blue Economy .
Its tourism industry, offering luxurious holiday accommodations and increasingly affordable holiday huts perched above turquoise waters, relies on thriving island ecosystems and marine life, contributing directly to over 30% of its GDP and over 80% of foreign exchange earnings: the sustainability of the industry rests entirely on the beauty and health of its marine and ocean ecosystems.
The Maldives tuna fishery, which has sustained the country for centuries, uses a traditional pole and line technique, taking the industry from a small-scale operation to a globally renowned exporter of sustainably caught tuna today.
For the Maldives, and the vast majority of countries in Asia and the Pacific region reliant on coastal and marine ecosystems, the full potential of the Blue Economy is yet to be realized. It is not just an economic strategy; for these nations, including the Maldives, it's a necessity for their survival.
While fishing and marine-based tourism have naturally flourished, other investment-intensive sectors such as renewable marine energy, marine biotechnology, and green and resilient infrastructure require financing and conducive policies to thrive.
;
MENAFN04072024000159011032ID1108408547
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.