Blue Economy and Blue Activities: Opportunities, Challenges, and Recommendations for The Bahamas

Abstract

Following the global shutdown of tourism at the onset of the COVID-19 pandemic, small island developing states such as The Bahamas had their economies immobilized due to their heavy dependence on the industry. Beyond economic recovery in a post COVID-19 paradigm, the blue economy, blue growth, and associated activities offer pathways for a more resilient economy and is well-suited for The Bahamas. This paper suggests conduits for economic development using a traditional strength, coastal and marine tourism, in conjunction with the emerging fields of ocean renewable energy, offshore aquaculture, marine biotechnology, and bioprospecting. The interlinkages between each activity are discussed. Knowledge gaps in offshore aquaculture, ocean renewable energy, marine biotechnology, and marine environment monitoring are identified. In each sector case, strategic and tactical decision-making can be achieved through the exploitation of ocean numerical modeling and observations, and consequently should be invested in and developed alongside the requisite computational resources. Blue growth is encouraged, but instances of blue injustice are also highlighted. Crucially, pursuing blue economy activities should be given top national priority for economic recovery and prosperity.