PH’s Blue Economy Holds Vast Growth Potential, Experts Say

By Francis Allan L. Angelo

The Philippines, with nearly 80% of its territory covered by marine waters, has significant opportunities to drive economic growth by sustainably harnessing marine resources and advancing its blue economy.

This was according to Dr. Rhodora Azanza, former president of the National Academy of Science and Technology, and Dr. Maria Christina Paler, assistant professor at the Department of Biology at the University of San Carlos (USC).

Both experts emphasized the Philippines’ strategic position as a maritime nation and the need to balance resource utilization with sustainability.

They spoke at the symposium “Shaping APEC’s Blue Economy Agenda: Philippine Leadership and Visayas-Centric Innovations,” organized by the Philippine APEC Study Center Network (PASCN) of the Philippine Institute for Development Studies (PIDS) in collaboration with USC.

“The Philippines is more water than land. We are almost 75% to 80% marine and only less than 30% land,” Azanza said. “Most Filipinos are coastal dwellers, especially in the Visayas, and we need to harness this potential for the good of communities and the nation.”

Azanza highlighted key opportunities in tourism, renewable energy, ports, and drug development as sectors where the Philippines can lead.

She also underscored the importance of interdisciplinary approaches and recent legislative efforts, such as the Philippine Ecosystem and Natural Capital Accounting System (PENCAS), in addressing blue economy challenges.

Coastal and marine tourism play a significant role in economic growth, particularly in the Visayas. “About 12.7% of GDP was estimated to come from biodiversity tourism in 2019,” she said.

Coastal tourism not only generates revenue but also provides livelihoods for communities while fostering environmental awareness.

Port development is another crucial sector. Enhancing port infrastructure can boost trade and connectivity, facilitating the movement of goods and services domestically and internationally.

Strategic investments in this area could position the Philippines as a key maritime commerce hub in the Asia-Pacific region.

The country’s coastal and marine areas also offer ideal locations for renewable energy projects, contributing to climate change mitigation while creating jobs and new industries.

“The Department of Energy estimated in 2020 that 15 sites were qualified to generate about 265 million megawatts of electricity. With support from scientists and engineers, this could be realized in the near future,” Azanza said.

Paler added that while the Philippines is well-positioned to benefit from marine resources, sustainability challenges remain. She stressed that sea fishing, a cornerstone of the blue economy, is vital for food security and employment.

“Marine fishing is a key component of the blue economy because it provides a substantial portion of the world’s animal protein supply. In the Philippines, it ensures both food and employment security,” she explained.

Both experts emphasized the need to preserve marine ecosystems as the foundation of a sustainable blue economy.

Protecting ecological integrity is essential for sustaining industries such as fisheries and tourism while maintaining environmental balance.

They concluded that leveraging science and technology is crucial for the Philippines to become a prosperous maritime nation.