Displaying items by tag: Marine Economics

13th December 2019

Symposium Celebrates 10 Years Of Marine Economics & Policy Research

Speakers and chairs from day one of the 10th Annual Marine Economics and Policy Research Symposium

The 10th Annual Marine Economics Policy Research Symposium, recently held at the Marine Institute’s Oranmore headquarters, provided a forum for researchers, scientists, economists and policy makers to present and exchange views on a wide range of topics.

Organised by the Socio-Economic Marine Research Unit (SEMRU) of NUI Galway’s Whitaker Institute with the support of the Marine Institute, the event was a space to discuss issues from the public perceptions of the oceans and marine spatial planning to marine and coastal tourism.

The 10th annual symposium also showcased the international collaborations that have been established between SEMRU and partner institutes through a number of EU projects.

The Marine Institute’s new chief executive Dr Paul Connolly welcomed the researchers, noting that SEMRU “has played a vital role in establishing a sustainable method of valuing our oceans”.

He added that the unit has “also undertaken complex research initiatives across a broad spectrum of areas, such as fisheries, maritime transport tourism and natural capital accounting”.

“Today, economic evidence is available to show the value — market and non-market — of our ocean resources with Ireland's marine sector recognised by Government and the State as an important national asset,” he said.

SEMRU presented the latest economic figures to Government in June 2019 as part of the Our Ocean Wealth Summit.

The latest figures show that Ireland’s ocean economy had a turnover of €6.23 billion and provided employment for 34,132 people (full time equivalents). The total direct and indirect value of Ireland's ocean economy is estimated by SEMRU to be in excess of €4.2 billion GVA (Gross Valued Added), equivalent to 2% of GDP.

Ireland’s integrated marine plan, Harnessing Our Ocean Wealth, outlines the Government’s target to increase the turnover from our ocean economy to exceed €6.4 billion by 2020 and double its value to 2.4% of GDP by 2030.

The symposium welcomed speakers from the Marine Institute; NUI Galwa; Department of Housing, Planning and Local Government; Údarás na Gaeltachta; Galway-Mayo Institute Technology; Trinity College Dublin; Queen’s University Belfast; and ABPmer.

Top women’s surfer turned marine biologist Dr Easkey Britton was among the international list of speakers whose presentations are available to download from the SEMRU website HERE.

Published in Marine Science

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About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.