The European Commission has published its annual EU Blue Economy Report to take stock and uncover the latest trends and developments in all economic sectors related to the oceans and coastal areas. With close to 4.5 million people employed, a turnover of more than €665 billion and €184 billion in gross value added, the EU blue economy sectors contribute significantly to the EU’s economy, especially in the coastal regions. Moreover, the report notes that the EU’s blue sectors are a spawning ground for innovative solutions and technologies that can help fight climate change and take the green transition to the next level. It also points at the high cost of inaction to fight climate change, as the damage of rising sea levels could cause a direct loss of more than €200 billion per year by 2080 in the EU.

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Download the report here