Budgeting for Malta’s blue economy

Abstract

Did you know that Malta’s Blue Economy directly employed around 26,400 people and generated approximately €1 billion in Gross Value Added in 2023, representing 8.9% of national employment and 5.4% of national GVA? It encompasses a diverse range of sectors, including coastal tourism, ports and maritime transport, fisheries, aquaculture, shipping, marine renewable energy and emerging technologies. Coastal tourism alone accounts for half of Malta’s Blue Economy GVA. In this opinion piece, I discuss the sector’s economic importance and the need for investment in maritime infrastructure, connectivity, skills, environmental sustainability and coordinated governance. I also argue that a sustainable and equitable Blue Economy must consider coastal communities, workers’ rights, fishing livelihoods, public access, Social Impact Assessment and people’s quality of life. The Blue Economy should be measured not only by the wealth and employment it generates, but also by its social and environmental impacts.