By Winnie Kamau
Kenya’s Blue Economy accounts for 0.5% of the Gross Domestic Product (GDP) giving employment to 2 million Kenyans in the various forms of fishing, boat building, and other ancillary activities.
According to the Kenyan Government report on developing the Blue Economy, the full economic potential of the marine resource has not been exploited.
Kenya’s maritime territory stands at 230,000 square kilometers and a distance of 200 nautical miles offshore, which is equivalent to 31 of the 47 counties.
Globally, it is estimated that the blue economy contributes about US$ 1.5 trillion per annum which translates to 3% of global GDP. The Blue Economy creates approximately 350 million jobs in fishing, aquaculture, coastal and marine tourism and research activities.
The estimated annual economic value of goods and services in the marine and coastal ecosystem of the Western Indian Ocean is estimated to be US$ 22 billion, and Kenya’s share is only 20%, mainly from tourism, which means that a lot more is required to realize the full benefits of the blue economy.
In view, Kenya is expected to host the first ever Global Conference on Sustainable Blue Economy from the 26th -28th November 2018.
The conference is expected to bring together various experts and stakeholders to establish partnerships and networks in this seemingly untapped economy.
