Ireland’s ocean economy to surpass goverment growth targets next year according to NUI Galway report

Galway Bay fm newsroom – A new report from an NUI Galway based research unit has shown that growth in Ireland’s ocean economy is well on its way towards hitting the government’s target for 2020.

NUIG’s Socio Economic Marine Research Unit released its latest performance update on the marine sector this week.

The new data shows Ireland’s Ocean Economy has a turnover of 6.2 billion euro, with a direct economic contribution of 2.2 per cent of Ireland’s GDP.

The 2020 target for Ireland was set down in the Integrated Marine Plan for Ireland which hoped to see the Irish Ocean Economy worth more than 6.4 billion euro by next year.

Co-author of the report, Dr. Stephen Hynes says consistent growth can be seen across both established and emerging marine industries.

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