Marketing For The Future November 2016 - Page 9

O Over the last few years Curaçao’s economy has experienced negative or fairly low economic growth. The Curaçao economy is in need of new and profitable sectors. Just as other SIDS and large counties have done, Curaçao can also exploit its blue economic sector. There are some local businesses and organizations that are already active in the oceans economy, which could aid in the process of developing the sectors, thanks to their experience and knowledge. Curacao is an island with little to no raw materials, and as such, its local economy is highly dependent on services and tourism; as are most Small Island Development States (SIDS). The majority of its economic efforts are focused on land-based developments. Governments, and especially SIDS worldwide, are emphasizing the diversification of their economies in order to better withstand economic stress spurred by market fluctuations and foreign influences. In their post-2015 development framework, the United Nations calls upon SIDS to better assess and utilize their current untapped ocean economic sectors. An article from The Commonwealth Trade Hot Topics Issue 110 (Onguglo & Eugui, 2014) sheds light on the fact that the oceans and seas are major contributors to sustainable development and that SIDS, especially, can greatly exploit the untapped potentials. Advancements in technology enable countries to better delve into oceanic assets and exploit them in an environmentally friendly and sustainable manner. SIDS form the group that can best make use of such opportunities. All SIDS have an Exclusive Economic Zone (EEZ) that far exceeds their available land area, yet their least used asset tends to be their territorial waters. There are a number of industries and sectors that can be developed and enhanced in the ocean or the blue economy of SIDS. Any kind of research serves the purpose of acquiring valuable information and knowledge, be it a qualitative or quantitative study. For this particular case study, we used the acquired information and knowledge to identify key, untapped economic opportunities possessed by Curaçao. In this study the focus was on the following sectors of the oceans economy of Curaçao: 1. Marine Bio-Prospecting and Research sector 2. Marine Industrial and Services sector 3. Maritime and Coastal To \\HX܂ BX\[H[Q[\HX܂KB[[[\][ۘ[\\HX܂H\X\XT]Y\[ۜ\Hܛ][]YY[YHB\[X]]Y\[H][XܜوYKH\Y\˜[\Y\X]Hܙ[^][ۜ\HX[]\[ B][Y[ܝ[]Y\]\H\H܈^[[ۈقHXܜ[HX[Y[][ۜ܈Hݙ\Y[܈\]Z][[ܙ[^][ۜˈH[و H\[\\[ܙ[^][ۜ\H\XY [HX[Y\܂ۙ\\H[\Y]Y \^\[HY[ [][žYX\و^\Y[H[ۛYHوH[ۙ][ۜ^Hۙ]^XH]H\Y\[\Y\\K[H\\[H\[X]]Y\وH[X\[H8$”X[[\X\X܈]\]Y[]\p[š\ٙ\[ۘ[[ܛ[ۙYܙ[^][ۜ]\H[[[H[Y[\X\[ۛYBܙX][ۋ^H\Hٙ\[ۘ[]^Hܚ[[Z[H][\][ۘ[^\\\^[BۛYH\[H][ HX]]XY\˜\Hۜ[H\ݙ\Y]^H]H\Z\]\H\X]Bݙ\Y[[\XX[HQܛYK\H[\\^[H]\YX][ۈوZ\XۛZY\[ܙ\]\] H[XۛZX\\YHX\]XX][ۜ[ܙZYۈ[Y[\˂B