Despite desert environs, Middle East countries are set for an ocean-led economic boom, experts say
The world’s largest floating city, the biggest blue ammonia plant and millions of mangroves: these blue-economy undertakings are emerging in the Middle East.
The vast desert areas of the Gulf Cooperation Council, or GCC, one of the world’s most water-stressed regions, are poised to reap the benefits of the blue economy, experts say.
The blue economy contains interconnected sectors linked to available technologies and traditional methods of production that have great potential to achieve growth and support economic development and diversification, they said.
The World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health. The use of the blue economy originated at the United Nations Conference on Sustainable Development, Rio+20, in 2012.
Globally, the UN estimates that the ocean economy has an annual turnover of between $3 and $6 trillion, covering employment, ecosystem services provided by the ocean and cultural services.
It is also estimated that fisheries and aquaculture contribute $100 billion annually and about 260 million jobs to the world economy.
In terms of blue projects, Saudi Arabia plans to build a new floating city called Oxagon, with aims for what is said will be the world’s largest floating structure, in the southwestern area of Neom, Saudi’s futuristic new megacity.
It is said that half of Oxagon will float on the Red Sea, which has an average depth of 500 meters.
Saudi Arabia also has its Red Sea project, an ambitious regenerative tourism plan, the Coral Bloom development, and Amaala, a luxury tourism destination being developed along the northwestern Red Sea coastline, the aim being for it to be fully operational by 2027.
The UAE last year announced plans to plant 100 million mangroves by 2030 and has been building its maritime strength through partnerships with regional neighbors. The Emirates has 12 commercial trading ports, other than oil ports, the UAE government says. It has 310 berths, with a cargo tonnage of 80 million.