Making Waves

Marine and coastal resources are critical for human survival. The economies of many coastal developing countries and small island developing states rely heavily on maritime industries, associated trade, and tourism. In coastal and island developing countries, small-scale fisheries and other ocean sectors support a significant number of jobs and livelihood opportunities. Marine and coastal resources also provide critical ecosystem services on which the ocean economy relies. Yet historically, ocean-based sectors have expanded without sufficient consideration for sustainability, negatively impacting marine and coastal environments. Moreover, the negative impacts of climate change are exacerbating the serious threats posed to ocean economies. Coastal developing countries and small island developing state economies that heavily rely on tourism were negatively affected by COVID-19, and while there were some positive environmental effects, these have been short lived. Critical knowledge and skills gaps undermine the ability of many countries to sustainably manage their marine and coastal resources. Addressing the threats posed to marine and coastal resources is politically challenging since coastal areas attract many competing uses and diverging interests. The purpose of this evaluation is to assess how well the World Bank is supporting the sustainable and inclusive development of ocean and coastal economies to inform the future development of the blue economy approach.