Against the backdrop of a deep COVID-19-related recession, with the rate of unemployment expected to remain at elevated levels over the near term, Ireland’s ocean economy industries offer prospects for new sources of growth, jobs, innovation and economic resilience. Prof. Alan Ahearne and Dr. Stephen Hynes from the Socio-Economic Marine Research Unit (SEMRU) at the Whitaker Institute have been awarded funding by the Marine Institute to examine major global economic developments that will most affect the performance of Ireland’s ocean economy industries in the near- and medium-term, including the COVID crisis.
This project provides updated figures on the value of Ireland’s ocean economy in 2019 and examines the effects of the COVID emergency on Ireland’s major ocean economy industries. The research explores the case for increased public and private investment in ocean economy industries, with the COVID crisis posing both challenges and opportunities for Ireland’s ocean economy.
- What is the potential of offshore wind to help Ireland to meet its targets for domestic renewable energy supply and to build a productive energy export sector
- With proper State support, can marine and coastal tourism be an engine for recovery in the broader tourism sector?
- How can policy aim to develop improved downstream supply chains at home for Irish seafood?
- Does marine aquaculture have potential for major expansion?
Prof. Ahearne and Dr. Hynes on 11 June presented preliminary findings from their research to the Inter-Departmental Marine Coordination Group (MCG) convened by the Department of the Taoiseach.