Hamilton, March 19, 2021– The Bermuda Ocean Prosperity Programme (BOPP) has released three preliminary research reports as part of its Blue Economy work, which features recommendations for key sectors of Bermuda’s economy: Fisheries, Blue Tourism, and Ocean Renewable Energy. The public is now asked to share their feedback on the report recommendations at https://www.bermudaoceanprosperity.org/blue-economy
A thriving Blue Economy promotes economic growth, social inclusion, and the improvement of livelihoods while at the same time ensuring environmental sustainability of the oceans and coastal areas. The wealth of Bermuda’s marine resources supports our fishermen, brings in tourists from around the world, and contributes to our health and wellbeing in countless ways. And like any resource, careful management of its use and investment is key to long-term prosperity.
Through comprehensive research and consultations, BOPP is developing a Blue Economy Draft Strategy that will outline recommended activities and areas of investment for the sustainable use of Bermuda’s ocean resources in order to support economic growth, improve livelihoods, and increase jobs while maintaining the health of ocean ecosystems.
The first phase of this strategy is the development of three research reports with a focus on Bermuda’s Fishing industry, Ocean Renewable Energy, and Blue Tourism. These reports include a global market assessment, local economic assessment, and industry expert analysis to build out a comprehensive picture of the sector’s current status and potential.
A Virtual Forum will be held April 12th at 11:30am - 1:00pm featuring the Honorable Walter H. Roban, JP, MP to introduce Bermuda’s work towards a vibrant Blue Economy. The Recommendations for each report will be introduced by the report researchers, and representatives from the Bermuda Tourism Authority, the Department of Energy, and the Department of Natural Resources will share their perspectives. The recording will be available online and played on CITV throughout the month of April.
This Forum will be followed by a series of smaller virtual meetings for each sector where you can bring your questions, concerns, and input to the BOPP team. Visit the website for more information on those dates as they come available.
With input from the public, these recommendations will then undergo an economic analysis that will be incorporated into the larger Blue Economy Draft Strategy. This strategy will be a single vision combining the sector recommendations and analyses for fisheries, marine renewable energy, and blue tourism over a 10-year horizon (2022-2032). The final recommendations in the Blue Economy Draft Strategy are not meant to be legally binding or prescriptive but are intended to inform policy and investment decisions going forward.
For more information, get involved here: