The blue economy remains a stronghold of the Flemish economy

Last year, Blue Cluster ordered research agency IDEA Consult to investigate the economic and social relevance of the blue economy in Flanders. This study has shown that the blue economy accounts for 5.2% of the Flemish gross domestic product. 

You can read the most important results below. The study makes it clear that the blue economy continues to be a stronghold of the Flemish economy, and that there remains a lot of potential for further growth. 

The calculation of the blue economy's economic impact is based on a combination of methods, including document and data research, online surveys and economic impact analyses. Based on the most recent data available, the blue economy accounted for the following in 2021:

• an output of 40.37 billion €; 
• employment of 175,902 full-time equivalents;
• an added value of 15.44 billion €; and 
• a 5.2% contribution to the Flemish GDP.

Compared to 2018, output and employment increased by 26%, the added value grew by 20% and the contribution to the GDP rose by 15%.

This makes the blue economy a stronghold for the Flemish economy that is comparable in size to the Flemish food industry or the Flemish chemical and life sciences cluster.

In the context of the social relevance of the blue economy, four case studies of The Blue Cluster were examined in great detail, namely:

• RAINBOW: effects of weather conditions on offshore wind farms;
• SYMAPA: integrated cultivation of low-trophic species and passive fishing;
• Design for Public Value at Sea: co-creation of large-scale multifunctional infrastructures at sea; and
• SSAVE: better communication between sailing objects so as to facilitate autonomous navigation. 

The study confirms that the blue economy has a crucial social impact by making an important contribution to:

• the transition to a circular economy;
• the transition to sustainable energy; and
• the transition to sustainable mobility.

The blue economy also plays an important role in achieving the United Nations Sustainable Development Goals, in particular:

• SDG 9: Industry, innovation and infrastructure;
• SDG 13: Climate Action;
• SDG 14: Life below water; and
• SDG 7: Affordable and clean energy.

The study also investigated the role Blue Cluster fulfills within the blue economy. A number of projects were examined for this purpose. The research shows that these projects offer clear economic added value as well as promising market potential.

This suggests that Blue Cluster plays an important role in the embryonic process initiatives in today's blue economy to help start up, grow and valorise larger-scale value creation for the future.

This study is a follow-up to an earlier study ordered by Blue Cluster from IDEA Consult in 2019. You can find that study below. 

Please note that this study is once again only available in Dutch. Feel free to contact us if you want a proper translation of a specific part of the study.