According to the World Bank the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem."
Bangladesh has 710 km long coastline with an exclusive economic zone of 200 Nautical Miles inside the Bay of Bengal. Marine fisheries contribute 19.40 per cent of the total fish production of the country. Besides, on an average, 81.0 per cent of the international tourists visit Cox's Bazaar in Bangladesh. The ocean of Bangladesh is contributing a noteworthy role to its overall socio-economic growth through enhancing the economic activities across the country and especially to the coastal zone at southern part.Blue Economy has the prospect to contribute Bangladesh economy on a much higher level. Twenty six potential Blue Economy sectors have been identified by the MoFA which include the fishery, maritime trade and shipping, energy, tourism, coastal protection, maritime safety and surveillance for development of blue economy in Bangladesh.
Bangladesh has huge potential in coastal tourism. Globally, coastal tourism has a huge market segment and represents 5 per cent of world GDP and contributes 6-7 per cent of total employment. In 150 countries, it is among the top export earners. It is the main source of foreign exchange for half of the Least Developed Countries (LDCs). Coastal tourism includes beach-based recreation and tourism; (b) tourist activities in proximity to the sea; boating including yachting and marinas.
