Funded by the Marine Institute Marine Reseach Programme 2014 – 2020, the overall aim is to build on the experience of SEMRU in terms of the valuation of Ireland’s ocean economy in order to further strengthen the collection, reporting and monitoring of Ireland’s Ocean Economy across the maritime sectors of: Shipping & Maritime Transport, Marine Tourism and Leisure, Cruise, Marine Retail Services, Sea-Fisheries, Aquaculture, Seafood Processing, Oil and Gas, Marine Manufacturing, Engineering and Construction, High Tech Marine Products and Services, Marine Commerce, Marine Biotechnology and Bio-products and Marine Renewable Energy. Measuring the links between the sea and national economies is an increasingly important issue for maritime nations.
In this project, the continued collection of annual performance and economic statistics across the major maritime sectors will ensure the timely availability of marine economic statistics for policy makers and the ability to assess processes under the blue growth strategy and closer to home, under the Harnessing Our Ocean Wealth Strategy. Furthermore, through the use of the Bioeconomy Input Output (I/O) model previously developed by the project team, the indirect impact on the wider economy from the growth (or decline) of marine industry activity will be monitored. In addition the I/O model will be adapted to incorporate value chain analysis to assess the wider carbon footprint involved in the production of marine goods and services.