The Expected Impacts of Climate Change on the Ocean Economy
Steve Gaines, Reniel Cabral, Christopher M. Free, Yimnang Golbuu, Ragnar Arnason, Willow Battista, Darcy Bradley, William Cheung, Katharina Fabricius, Ove Hoegh-Guldberg, Marie Antonette Juinio-Meñez, Jorge García Molinos, Elena Ojea, Erin O’Reilly, Carol Turley
Abstract
Abstract The ocean is critically important to our global economy. Collectively, it is estimated that ocean-based industries and activities contribute hundreds of millions of jobs and approximately US$2.5 trillion to the global economy each year, making it the world’s seventh-largest economy when compared with national gross domestic products (GDPs) (Hoegh-Guldberg 2015; IPCC 2019). In addition, the nonmarket services and benefits provided by the ocean are significant and may in fact far exceed the value added by market-based goods and services (Costanza et al. 2014).