The Challenge

Blue Economy and Blue Growth

The blue economy encompasses any economic activity related to oceans, seas, and coasts. It includes a wide range of established and emerging sectors, such as aquaculture, fisheries, clean energy, maritime transport, green shipping, shipbuilding, and coastal tourism.

With an estimated economic value of US$2.5 trillion, the ‘blue economy’ is equivalent to the world’s 7th largest economy. The EU’s blue economy employs 3.6 million people, generates nearly €624 billion in turnover, and contributes €171 billion in Gross Value Added.

In 2021, the European Commission emphasized the blue economy’s crucial role in achieving the European Green Deal’s objectives and introduced a new approach to foster a Sustainable Blue Economy. This approach unlocks multiple environmental, social, and economic benefits for current and future generations, protects and sustains diverse, productive, and resilient ecosystems, and drives sustainable development.

The new approach promotes coherence across blue economy sectors, facilitates their coexistence, and seeks synergies within the maritime space without harming the environment. It also emphasizes the need for investment in research, skills, and innovation.
More about the EU blue economy: https://blue-economy-observatory.ec.europa.eu

Sustainable Tourism In The Black Sea Area

Coastal and maritime tourism is the largest contributor to the EU Blue Economy in terms of both Gross Value Added (GVA) and employment. European coastal regions rank among the most popular destinations for travelers from Europe and around the world. This sector is vital not only to the broader EU economy but also plays a significant role in the countries surrounding the Black Sea Basin, where it generates substantial national revenue and drives blue growth.

However, the coastal and maritime tourism sector has faced significant challenges in recent years, with economic performance lagging behind pre-COVID levels.

While seasonality affects coastal tourism across the EU, Black Sea tourism faces additional obstacles such as overdevelopment, pollution, waste management issues, and insufficient knowledge transfer to innovative business solutions and practices. The sustainability transition of the sector that addresses these challenges is essential to unlock the full potential of this major sector and strengthen its resilience to exogenous shocks.

Innovation Gaps

Innovation lies at the core of Europe’s green, digital, and social transformation. By driving technological advancements, fostering creative solutions, and supporting environmental sustainability, innovation enables businesses and industries to enhance efficiency, adapt to evolving markets, and strengthen their sustainability practices. It also plays a critical role in advancing blue growth by promoting the sustainable use of marine resources.

In the EU tourism sector, innovation has steadily grown, with a focus on sustainability, digitalization, accessibility, and cultural heritage. Since 2017, innovation rates across the broader EU economy have risen by 10%, though contributions from the tourism sector vary by region. Notably, tourism in the Black Sea Basin (BSB) remains low in knowledge and technology intensity, resulting in economic, environmental, and social losses.

Addressing the challenges faced by the BSB region requires novel solutions that combine social, natural, and engineering knowledge. By fostering cross-sector collaboration and raising the region’s capacity for innovation absorption and technology adoption, the BSB tourism sector can unlock its potential for sustainable growth and development.