The Blue Economy: Sustainability, Opportunity and Future.

Abstract

The ocean is likely to become an economic force. Ocean offers numerous activities like trade and commerce, fishing, coastal tourism, power generation, industrialisation etc. and as a major part of the environment of our ‘Blue Planet’ its roleis highly important. Since long past the ocean was perceived as zones of free resource extraction and waste dumping ground with costs excluding  from economic calculation as a ‘Brown Development Model’ in business economics. Such an unwise use of ocean resource it is became polluted day by day. Opposed to that, Blue economy is a sustainable ocean economy emerges when economic activity is in balance with the long term capacity of ocean ecosystems to support this activity and remain resilient and health.Resource use is evaluated with environmental and ecological parameters. The Blue Economy concept, first time, separated from socio-economic development from environmental degradation. It is a developing world initiative mostly initiated by the small island developing states (SIDS) and finally adopted by UNO. To offer numerous opportunities for future generation it works through formation of different national and international regulations and laws, sustainable research, re-planting, re-cycles, campaign and movement. Role of technologically advanced nations should be more positive and pro-active to ensure a ‘Clean Blue Planate’ The first section of the paper is about the concept of ‘Blue Economy’ while the second section deals with the historical development of this very conceptual agreement. And the third section analyzes the opportunities of Blue Economy. The article ends with a conclusion.