9 January 2024

~1 minutes read

Marine Institute report shows Ireland’s Ocean Economy generated €7bn in turnover last year

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Marine Institute report shows Ireland’s Ocean Economy generated €7bn in turnover last year

Ireland’s Ocean Economy generated €7bn in turnover last year.

That’s according to a new report from the Marine Institute in Oranmore, in collaboration with the Socio-Economic Marine Research Unit at University of Galway.

Last year, Ireland’s Ocean Economy generated over €7bn in turnover and had a direct economic contribution of almost €3bn.

That represents turnover growth of 17 percent between 2021 and 2022, and almost 30 percent since 2020.

The sector also employed 33,500 people full-time last year, most of whom are are employed in tourism, followed by seafood and bioresources.

That’s an increase of almost 20 percent since 2021.

Shipping and maritime transport accounts for the highest turnover, followed by oil and gas exploration and production, tourism, and seafood and bioresources.

The report also shows that 14 ships visited Galway Port last year – bringing with them almost 10 thousand passengers.

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