Defining the Blue economy

Abstract

Oceans are increasingly gaining in importance in terms of enabling international trade via linking sellers and buyers. The behaviour patterns of such linking enablers on the oceans are receiving more attention from a regulatory and economic perspective as the relationship between land and ocean evolves in its role and importance. The “Blue Economy” as a concept finds its origin against this background. A literature review is undertaken to analyse an appropriate definition for the Blue Economy. These definitions are analysed in terms of the minimum criteria which are necessary for a Blue Economy. The paper also attempts to structure various types of activities which are associated with ocean services. It is done with a view to identify what one may perceive as the focus areas for the growth of the Blue Economy.