Abstract:

In the EU, promoting development of the blue economy is a priority area and it is an integral part of the economic policies of EU countries, which can facilitate sustainable economic development and significantly contribute to conservation of environment and climate. The blue economy is characterized by a high potential for innovation and growth, facilitation of which can result in sustainable development of the EU countries and conservation of natural resources also for future generations. Research aim is to assess the development of the blue economy in the EU. Based on availability of data, there was carried out a socio-economic assessment of the blue economy sectors in the EU and the potential and opportunities of the blue economy growth in Latvia established. The information reflected in the research can be useful for institutions, scientists and entrepreneurs involved in the establishment, implementation and planning of the blue economy policy.