Making the Caribbean Blue

By: Caribbean Journal Staff - March 1, 2015

By Deodat Maharaj
Op-Ed Contributor

CARIBBEAN COUNTRIES face a variety of serious economic challenges which act as major impediments to their growth and development.

The continued reliance on one major export product with associated vulnerability to economic shocks as well as natural disasters places many in this region in a precarious position.

Nine Caribbean countries carry debt to GDP ratios over 75 percent, with five having unsustainable levels of debt exceeding 100 percent.

Overseas development assistance has been on the decline and is no longer an option for the large majority of Caribbean countries. Graduation to middle income status has also meant that concessional financing is no longer available.

Given all these factors, one may ask what are the policy options and resources that the region should consider to move from a “survivability to sustainability” frame of reference. One answer is perhaps the most obvious, which is to consider looking at the “Blue Economy.”

Caribbean countries have jurisdiction over significant ocean areas that, in many cases far exceed the land area of the countries themselves.

The Bahamas’ exclusive economic zone, for example, is estimated to be 242,970 square miles compared to its land area of 5,383 square miles, whereas St Vincent and the Grenadines’ is estimated to be about 13,900 square miles, over 90 times its land area.

In the case of St Kitts and Nevis, the ocean space is almost 7,900 square miles, with its land area being only 100 square miles. These ocean areas support a broad range of activities and services, many of which have particular economic or social value to the Caribbean. Of these, tourism and fishing play a dominant role in the economies of many Caribbean countries.

The potential of the oceans to help meet our growing needs is huge, but marine resources are under increasing pressure from overexploitation and poor management.

If Caribbean countries are to effectively develop their ocean space to meet their needs in a sustainable way, an approach is needed that integrates environmental management directly with economic development, fiscal policy and social goals.

The concept of an ocean-based economy has been embraced by many island nations as a mechanism to realise sustainable growth.

The premise being that the oceans can play a pivotal role in tackling the longer-term socio-economic and environmental challenges.

The Blue Economy is potentially of major value to all Caribbean countries – the opportunity to create more value out of existing and new resource streams cannot be overlooked.

However, while opportunities do exist, the full potential of the ocean is not being realized in many Caribbean countries. In truth, the ocean can play a more central role in economies at national and regional levels.

This must include both existing benefits and uses, such as fisheries, minerals and shipping. Among the opportunities identified as having potential in the Blue Economy are marine fish farming, renewable energy, ocean-related tourism and marine biotechnology.

Changes in the way that governments and stakeholders interact and manage ocean space will be needed going forward. Translating new opportunities into productive sectors will require investment in research and development, building technical capacity, and creating the right environment to attract and retain investment.

Attaining the full potential of the Blue Economy may seem a daunting task. However, many of the elements required to transition already exist. The Commonwealth Secretariat has been working with a number of countries in the region in this regard. National Ocean Policies have been prepared for several countries including St Kitts and Nevis, St Vincent and the Grenadines and The Bahamas, and we are providing ongoing assistance to support the implementation of these policies.

Greater ambition is needed when it comes to the Blue Economy and the Caribbean has to respond quickly. Seychelles now has a Ministry of Finance, Trade and the Blue Economy.

Mauritius has also recently established a Ministry focusing on the Ocean Economy. The mandate of these new entities is to transform economic development through the resources that exist in the ocean.

The challenges are many but the rewards are potentially significant. It is time for the Caribbean to act and the Commonwealth stands ready to support the region in this venture.

Deodat Maharaj is the Deputy Secretary General of the Commonwealth.

Popular Posts arrival st maarten

St Maarten’s Princess Juliana Airport Finally Has a New Arrival Terminal 

It’s been seven years in the making. First, St Maarten’s Princess Juliana International Airport unveiled its new departure terminal, an impressive reimagining of its pre-Hurricane Irma look.  Now, the long-awaited arrival terminal has officially made its debut, dramatically changing the […]


Aruba’s New Adults-Only Resort Has Swim-Up Suites, a Rooftop Bar and One of the World’s Greatest Beaches 

eagle beach cj photo

Eagle Beach. If you know Aruba, you know it. That wide, white, shimmering stretch of sand in the northwestern corner of the island is one of our favorite beaches in the Caribbean — and inarguably among the best beaches, well, anywhere […]


This Uncrowded Caribbean island Has Picture-Perfect Beaches, Countless Sandbars and the World’s Most Beautiful Water 

exuma caribbean island

It’s hard to see where the water ends and the sky begins. I’m wading on a sugar-white sandbar in the middle of the Atlantic Ocean, with nothing around but turquoise-tinted clouds. There are shades of blue here I’ve never seen. […]


Related Posts mexico hotels rcd

This Top Riviera Maya Resort Brand Is Expanding to Montego Bay, Jamaica 

It’s one of the top all-inclusive resorts on the Riviera Maya in Mexico: UNICO 20°87°, which has earned rave reviews for its locally-focused, authenticity rich adults-only experience in the Mexican Caribbean. And now the UNICO brand is adding another latitude […]


There’s a New Way to Fly to the Caribbean Island of Martinique

saint pierre hotel martinique

The volcanos. The rainforests. The rum distilleries. The out-of-this-world restaurants. It’s hard to believe the Caribbean island of Martinique is still under the radar of most travelers — but that’s in part what makes it such a fascinating place to […]


The Dominican Republic Just Eclipsed 10 Million Total Visitors. Again. 

punta cana nonstop flight new

It seems like every month is another new record for the Dominican Republic of late. And the truth is, that’s precisely what’s been happening. The country’s breakneck tourism growth pace hasn’t slowed down in the last two years, as its […]