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Ocean Economy

The erosion of sea beds and ocean fronts as well the impact of overfishing around Kauai puts our vital ocean economy at risk.

Ocean farming of algae and seaweed could be a potential business opportunity. The ocean economy, which contributes upwards of $1.5 trillion in value added to the global economy, was particularly hard hit by the COVID-19 pandemic.

With a projected loss of $1.9 billion for international shipping carriers alone, coastal communities were hardest hit with an estimated $7.4 billion fall in GDP across Small Island Developing States due to the decline in tourism. Despite its central importance to the global economy and the people’s livelihoods, the ocean economy was overlooked in the over $10 trillion in COVID-19 stimulus packages announced by governments to date. We believe this is a missed opportunity.

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