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Through an analysis of Samoa’s economic trends and environmental pressures, institutional set-up and policy tools, as well as financing landscape, this report identifies opportunities and challenges for Samoa’s ocean economy to drive sustainable and resilient development.
The global COVID-19 pandemic has severely affected Fiji, hitting at backbone economic sectors, such as international tourism and export fisheries. It has also brought to the fore the need to embark on a more sustainable model of development.
Samoa has suffered severe social and economic shocks. The outlook is challenging and subject to considerable uncertainty. Because of the tsunami’s potentially severe impact on tourism, real GDP is likely to contract this financial year. The fiscal strategy to shoulder the rebuilding costs, minimize capacity risks, and ensure fiscal sustainability is appropriate. Prudent management of monetary policy and the basket peg will be critical. The Samoan economy will have to rely on the private sector for growth. Executive Directors welcome the commitment to structural reform.
This report explores the growth prospects for the ocean economy, its capacity for future employment creation and innovation, and its role in addressing global challenges. Special attention is devoted to the emerging ocean-based industries.
This new OECD report on the ocean economy emphasises the growing importance of science and technologies in improving the sustainable economic development of our seas and ocean. Marine ecosystems sit at the heart of many of the world’s global challenges: food, medicines, new sources of clean ...