Blue Growth Potential in South Baltic Sea Region

Abstract

The Baltic Sea Region (BSR) stands for a flagship maritime region in Europe with dominating SME sector. Nevertheless, compared with other European regions, the cooperation and promotion activities of companies that belong to the Blue Economy in South Baltic Sea Region (SBSR) are not sufficient. As a response to this, the EU-project INTERMARE South Baltic aims to support the maritime economy in the SBSR by the creation of a network of companies and stakeholders. In line with the project, this study aims to analyse the future potential of the maritime economy and to identify trends that impact the sustainable development of the blue sector in SBSR. Based on primary data from a SBSR wide survey, descriptive statistical analysis is applied and Compound Annual Growth Rate is used as an indicator. The findings reveal need for actions regarding the sub-sectors Transport, Offshore oil & gas, Aquaculture, Fishery, Mineral resources and Biotechnology.