Displaying items by tag: Maritime 'Blue' Economy

6th July 2015

Maritime Sector Says NUIG Report Is Doing Better than General Economy

#BlueEconomy - The Irish Times writes that the "blue economy", Ireland's maritime sector is performing on average better than the general economy according to a report published by the Socio- Economic Marine Research Unit based at NUI Galway.

Indicators show that Ireland's maritime economy grew by 9 per cent between 2010 to 2012, while growth in Irish GDP during the same period was only 4.75 per cent.

In the period 2012 to 2014, the maritime economy continued to outperform the national economy, with growth rates of 8 per cent. Employment has also increased, from 17,425 to 18,480 full-time equivalents.

The report provides trends across 13 marine sectors from 2010-2012 and also provides estimates for 2014. It says the direct economic value of Ireland's ocean economy is €1.4 billion, or approximately 0.8 per cent of GDP. The sector had a turnover of €4.5 billion last year.

For more on the story click here.

Published in News Update

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New York Yacht Club’s biennial Invitational Cup

Ireland has a proud history in New York Yacht Club’s biennial Invitational Cup, with Irish participation from the very start and a podium result in 2019.

In 2009, two Irish Clubs, Royal St. George in Dun Laoghaire and Royal Cork in Crosshaven, entered into New York's newest sailing competition that was reminiscent of Newport’s America’s Cup days when 19 yacht club teams from 14 nations descended on this “City by the Sea”.

The Rolex New York Yacht Club Invitational Cup is a competition between yacht clubs, with strict eligibility rules ensuring that each team is comprised exclusively of amateur sailors.

The competition, which was first run in 2009, has drawn entries from 49 clubs from 22 nations on all six inhabited continents.

The New York Yacht Club won the inaugural event in 2009, with the Royal Canadian Yacht Club winning in 2011 and 2013, England's Royal Thames Yacht Club winning in 2015 and Southern Yacht Club from New Orleans winning in 2017.

In 2019 the regatta was sailed for the first time in the New York Yacht Club’s fleet of IC37 yachts, and Royal Sydney Yacht Squadron, from Australia, became the first Southern Hemisphere club to win the trophy. And it was in this edition that Anthony O’Leary’s Royal Cork team took the bronze medal.