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THE BLUE ECONOMY OF LATVIA
Abstract
Facilitation of the blue economy development is a priority field not only in the EU, but also in Latvia. The blue economy enhances a coordinated use of marine resources with the necessity to ensure economic growth and employment. Seas and oceans stimulate the European economy, in addition, they are characterized by a big innovative and growth potential. The importance of the blue economy in the sustainable development of the economy of the EU countries is significantly increasing and provides for considerable contribution into the conservation of environment and climate. Blue economy is an integral part of the economic policy of the EU countries, and it can facilitate sustainable economic development. The aim of the research is to evaluate development of the blue economy sectors in Latvia, at the same time providing an insight into the related problems and solutions thereof. The research revealed the sectors of the blue economy in Latvia and what is their socio-economic development and growth rate. Based on the available data and their quality, the analysis reflects the most important indicators and their fluctuations, showing the development of blue economy of Latvia. In the framework of the analysis, the author found out the most significant sectors in the blue economy of Latvia and the growth opportunities thereof. The information included in the research can assist the institutions, entrepreneurs and researchers involved in establishment and implementation of Latvia?s policy to better understand the issues related to the development and planning of the blue economy.
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