Approaches in the world and in Vietnam Ocean Economy - Definition and classification

Abstract

The ocean economy is essential to the future welfare and prosperity of humankind as a lot of countries and hundreds of millions of people depend on it. The estimation and recognition of the ocean economy’s value are therefore significant. However, it is complicated to compare the ocean economy among countries because of the differences in definition, classification standard and scope. This study aims to provide perspectives of the ocean economy of some countries such as the U.S., Australia, UK, and Japan as well as of renowned academics. Consequently, the ocean economy is defined in the study as the economic activities that take place on the sea or in the sea; economic activities using resources from the sea in the process of producing goods and providing services; economic activities that provide goods and services for economic activities that take place on the sea or in the sea.