Research Paper: Blue Economy in GCC (Research Paper Sample)

Research Paper: Blue Economy in GCC
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Abstract
This research paper explores the concept of the blue economy in the Gulf Cooperation Council and beyond. It builds from the growing concerns of sustainable development and the protection of the ecosystem. The blue economy is among the recent evolutions in political science and commercial activities. Its central focus is on economic activities that depend on the sea, such as tourism, fishing, energy generation, sea transport, and efficient industrial developments. Since the ocean and seas serve as the engine for the global economy in terms of Maritime Economy, Blue Economy, Maritime Economy, Ocean Economy, Blue Growth, and Marine Economy, conservation of these resources imply growth of the global economy, increasing the potential for growth and development and creation of innovative techniques of effective production.
This study evaluates the concept of the blue economy, its elements, and the significance of implementation to the member countries of the Gulf Cooperation Council and the entire region. It will also analyze further to find out the contribution of the Arab Gulf in attaining security of the area as it is at the central location. Furthermore, the study aims to identify competition among Gulf countries such as the United Arab Emirates and Saudi to implement the blue economy. The analysis of the various elements of the global economy such as the Blue Economy, Maritime Economy, and Ocean Economy will lead to exciting relationships and findings divided into economics and ecosystem protection of the Gulf region, sustainability and governance, localization and industrial development, and the growth of ocean economy. Development is the central axis that encompasses all the elements of the blue economy of the Gulf Cooperation Council. Findings affirmed the sustainable development of the blue economy in GCC. Nevertheless, the research identified gaps in implementing the sustainable blue economy. It proposed actionable mechanisms that can be implemented to improve better sustainable development in middle east countries and beyond to protect the rich endowment of sea and ocean resources.
Table of Contents TOC \o "1-3" \h \z \u Abstract PAGEREF _Toc97148367 \h 2Introduction PAGEREF _Toc97148368 \h 5Background Information PAGEREF _Toc97148369 \h 7Aims and Scope of the Study PAGEREF _Toc97148370 \h 8Research Questions PAGEREF _Toc97148371 \h 9Research Structure PAGEREF _Toc97148372 \h 9Literature Review PAGEREF _Toc97148373 \h 10Blue Economy PAGEREF _Toc97148374 \h 10Significance of Blue Economy PAGEREF _Toc97148375 \h 11Sectors of Blue Economy PAGEREF _Toc97148376 \h 12Data Collection Methods PAGEREF _Toc97148377 \h 13Data Collection Methods PAGEREF _Toc97148378 \h 13Ethical Considerations PAGEREF _Toc97148379 \h 13Data Analysis PAGEREF _Toc97148380 \h 13Results Presentation PAGEREF _Toc97148381 \h 13Summary of Data Analysis PAGEREF _Toc97148382 \h 13Results, Recommendations, and Conclusion PAGEREF _Toc97148383 \h 13Results PAGEREF _Toc97148384 \h 13Recommendations for Future Actions PAGEREF _Toc97148385 \h 13Conclusion PAGEREF _Toc97148386 \h 13References PAGEREF _Toc97148387 \h 13Appendix PAGEREF _Toc97148388 \h 13
Introduction
Blue economy has been defined by many agencies, government institutions, and commissions as it is a significant part of the economy and the backbone of development. The world bank defines Blue Economy as sustainable and efficient use of sea and ocean resources for coordination of economic growth, improvement of jobs creation, and living standards. It focuses on maximizing benefits derived from the sea and ocean resources while protecting them against depletion. However, The European Commission defines it differently as a combination of all activities related to oceans, seas, and costs that covers a wide range of interlinked established and emerging sectors of the economy. Furthermore, The Commonwealth of Nations definition improves the former two by integrating the blue economy management concept. It considered it an emerging concept primarily concerned with efficient stewardship of ocean resources. These definitions are evolving the same way the idea of a blue economy becomes complicated as technology and industrial development intensify. Therefore, Conservation International broadened its meaning by adding that it encompasses non-marketable economic benefits commonly ignored by the population. These include regulating carbon emissions into the ocean, seas, air, biodiversity, conservation of coastal values and cultures. The Center for Blue Economy also defined it uniquely by adding more contextual elements and details. They summarized Blue Economic as a concept that integrates many economic sectors and economic policies that jointly determine the sustainability of ocean resources.
These definitions of Blue Economy converge to a single standard need of the practice. They all focus on understanding the most feasible use of ocean resources while managing several aspects of oceanic sustainabilities. The significant elements in the definition include sustainable use of ocean resources to maximize the gains derived from them, minimize pollution of the ocean and air resources, sustainable fisheries, and overall conservation of the ecosystem. Second, the implementation of Blue Economy challenges people, institutions, and organizations to realize that successful sustainable management of ocean resources requires a close partnership between countries of the world. There should be more effort to intensify the sustainable stewardship of the sea and ocean resources on a scale that has not been achieved in the previous years due to the growing needs of the environment. Such achievement is a tall order to the developing countries such as those that form the Gulf Cooperation Council and the Small Island Developing States because of the significant limitations they encounter. The United Nations comments that the implementation of Blue Economy will support the achievement of Sustainable Development Goals (SDGs). One of the SDGs contained in goal 14 is life below water. Modern ocean activities are dynamic and different from traditional practices that mainly entailed marine transport, fishing, and tourism. The Blue Economic entails emerging industry trends such as renewable energy, marine bioprospecting and biotechnology, and seabed extractive activities. Therefore, it emphasizes sea activities that increase the human relationship with the ocean and align the current accounting systems and metrics with recognizing and enhancing the needs of the sea and ocean welfare.
Background Information
Gulf Cooperation Council (GCC) is an integrated economic and political union of Arab states that board the Gulf. The association was founded in 1981 by its six members. The States that form the GCC are Qatar, Saudi Arabia, Kuwait, United Arab Emirate, and Bahrain. The union is located at a crossroads between major Eastern and Western Economies. The place is made great and suitable for intensive economic activities due to its extensive infrastructural development and established and efficient sea and air transport connection. It is, therefore, an ideal business place as it acts as the terminal and entry point from and to many countries respectively. The alliance is formed and governed through structured policies. However, the prime reason for creating the binding union between the middle east and western regions is to coordinate the members' activities and develop cordial relationships. This end goal was the possible target because the member states share many identities, including the Arabic culture, Islamic religion, and oil and petroleum products production. The highest decision-making of the council is the supreme council that comprises heads of state of the member countries.
Nevertheless, other entities ensure efficient coordination of other council activities, such as the defense planning council that plans the military and security of the union's affairs. The ministerial committee is responsible for implementing and controlling the activities of the highest decision-making entity. They meet every quarter to implement the findings of the Supreme Council and suggest recommendations where necessary. The core activities of GCC are to coordinate security and economic matters.
Aims and Scope of the Study
The research aimed to achieve three predetermined objectives using the collected data and intuition of the researcher. As mentioned in the previous parts of the paper, Blue Economic aims to achieve sustainability in ocean resources for three primary reasons: continuity of life, enhanced economic growth, and achievement of a healthy oceanic ecosystem. Therefore, the research aimed at the following goals:
* To Explore the meaning of Blue Economy and understand the term clearly.
* To Identify and describe the elements of the Blue Economy in the Gulf Cooperation Council and define them appropriately.
* To Analyze various ways of effective implementation of Blue Economy in the emerging economic and corporate dynamics.
* To Ascertain efficient use and management of the resources of the Gulf region's oceans, seas, lakes, and rivers.
* To emphasize the need of the Gulf Blue Economy and recommend better proposals for future management of the marine resources of the Gulf and beyond.
Research Questions
The exploration was conducted using questions to guide the activities of the survey and facilitate the collection of the essential information. These included the list outlined below:
* What is Blue Economy?
* What is the importance of Blue Economy in the Gulf Cooper...