The Department of Commerce agencies – NOAA and the Bureau of Economic Analysis recently released a report showing that the American marine economy continues to fuel economic vitality.
The ocean economy comprises all economic activities related to the ocean, such as offshore oil and gas, marine equipment and construction, container shipping, shipbuilding and repair, cruise tourism, port activities and marine energy.
The marine economy contributed a total of $511 billion to the nation’s gross domestic product (GDP) in 2023 (5.9% growth since 2022). It generated $827 billion in sales (4.5% growth since 2022) and supported 2.6 million jobs. The MESA statistics include all economic activities related to the ocean and U.S. coastal regions.
Tourism and recreation topped the list of economic contributors, adding $179 billion to the GDP.
This report shows the significant importance of clean water to the marine economy.
Clean water results in increased tourism and recreation, enhanced fisheries, job creation and increased property values. Poor water quality results in tourism decline, fishing loses, increased healthcare costs and cleanup costs.
Photo courtesy of NOAA