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Making the New Zealand marine economy
This report evaluates New Zealand's marine economy's growth potential, focusing on tourism and the need for more comprehensive economic measures.
Introducing New Zealand's marine economy potential
New Zealand has significant potential for an extensive marine economy, controlling the 7th largest maritime area in the world. The report aiming to measure this potential used established sector-based approaches and updated data to 2017, providing a snapshot of the marine economic activities in terms of financial value, employment, and research opportunities. The traditional marine economy, comprising fisheries, tourism, government services, and offshore minerals, is distinguished from the broader concept of a 'blue economy'.
Analysing the extensive marine economic sectors
The document reveals that the direct contribution of the marine economy to GDP may be double what was previously thought, accounting for around 3% ($7.4 billion), with coastal tourism as a significant driver of this growth. Although the marine economy provides jobs for nearly 70,000 people, sectors like offshore minerals are declining. Conversely, tourism not only grows but also brings jobs to smaller communities. Most growth has been tied to major cities, and the uneven growth suggests targeted management strategies. Furthermore, the report indicates existing measurements may underestimate the size of marine tourism and the contributions of other sectors.
Summarising the advancements and future directions
The report made crucial advancements by highlighting the underestimation of coastal and marine tourism's contribution, suggesting new policy priorities and emphasising the importance of different sectors to local economies. Identified gaps in understanding and analysis point towards the need for more comprehensive measures of the marine economy. A more nuanced approach incorporating both 'use values' and 'non-use values' could provide a more accurate economic valuation and support sustainable management. As utilisation of marine resources increases, recognising the full range of these values becomes vital to prevent resource conflicts and promote a sustainable blue economy.
Key insights
Revaluating marine tourism's economic significance
The report uncovers marine tourism's significant underestimation within New Zealand's economy. The discovery calls for re-prioritisation in marine management, accounting for tourism's unique community and environmental impact. It emphasizes the need for a shift in policy, research, and management approaches that factor in tourism's importance to local economies and job creation.
Addressing the gap in marine economy analysis
Current analyses do not fully comprehend the marine economy's developmental trajectory, particularly for sectors like offshore minerals and fisheries. The report recommends bridging these knowledge gaps to evaluate the environmental costs of exploitation and inform sustainable policies and economic strategies better.
Advocating for inclusive and effective valuation methods
The report suggests a move towards evaluating the marine economy through a lens that includes 'use values' and 'non-use values', such as cultural engagement. This broader, more forensic valuation could contribute significantly to ecosystem-based management strategies and a more sustainable, equitable blue economy.
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© Copyright 2024 - Tohorā
© Copyright 2024 - Tohorā
Knowledge guiding change.
