A groundbreaking new report finds the ocean assets of the Western Indian Ocean region are valued at US$333.8 billion, and annual output at US$ 20.8 billion – 4th in line after the 3 largest economies of the region.
Reviving the Western Indian Ocean Economy: Actions for a Sustainable Future is the result of an in-depth, joint assessment by The Boston Consulting Group (BCG), CORDIO East Africa and WWF. It combines a new economic analysis of the region’s ocean assets with a review of their contribution to human development. However, it foreshadows significant challenges for the region’s ocean-based economies and food supplies in the absence of stronger actions, to turn a “Business as Usual” future into a “Sustainable Blue Economy” one.
The report shows that the region’s most valuable assets are fisheries, mangroves, seagrass beds and coral reefs. Adjacent coastal and carbon-absorbing assets are also central to the well-being of communities and the health of the ocean economy. The analysis finds that the region is heavily dependent on high-value ocean natural assets that are already showing signs of decline. The report offers a set of priority actions required to secure a sustainable, inclusive ‘blue economy’ for the region, and thus to provide food and livelihoods for growing populations.
The report follows an approach established in a global report published by WWF in 2015, and a similar analysis for Melanesia – both available from here.
The WIO report identifies 7 priority actions for sustainability, strongly founded on the Sustainable Development Goals and targeting decision-makers gathering at the UN Ocean Conference for SDG 14 from June 5-9 2017 in New York.
WIO countries Ocean Economy at a glance
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