Member countries of the Organisation of Eastern Caribbean States (OECS) have jurisdiction over maritime areas that are significantly larger than their respective land areas and are, therefore, increasingly looking to their maritime waters to both diversify and bolster economic growth by exploring new opportunities for investment, employment and to support local livelihoods. Not only do opportunities exist for growth and innovation in traditional sectors, such as fisheries, marine transport and marine-based tourism, but also to expand into higher-value emerging sectors such as sustainable aquaculture, marine biotechnology and marine renewable energy.
The sustained supply of ocean-derived goods and services will be critical to the future well-being and prosperity of many small island developing states (SIDS), particularly those, such as member countries of the Organisation of Eastern Caribbean States (OECS), that benefit from the conferral of extensive areas of ocean space. To this end, the emerging concept of the ‘blue economy’ has been embraced by OECS countries as a mechanism to realise sustainable economic development, with governments increasingly looking to their maritime waters to both diversify and bolster economic growth. That said, the concept of the blue economy is not new to OECS countries, which have benefitted from their ocean resources for much of their history, through the development of fisheries, their reliance on shipping to support trade, and their global tourism industry.
Against this backdrop, the impact of the COVID-19 pandemic on Caribbean economies has been significant. Development of a sustainable blue economy is, therefore, viewed by OECS governments as one component of a broader sustainable development framework that can contribute to a post-COVID-19 economic recovery for the OECS region.
