The Ocean Economy Imperative: Defining Value, Managing Risk and Mobilizing Investment (McKinsey & Company)

Summary

• 80% of global trade volumes are transported by sea.p.5
• The estimated annual economic value of ocean-based industries is $3 trillion.p.5
• Over 95% of international communications are carried through submarine fiber optic cables.p.5
• Ocean economic activity grew to 1.3 times that of the rest of the world economy in 2020.p.9
• Decarbonizing international shipping is expected to require cumulative investments of approximately $1.2-1.6 trillion from 2030 to 2050.p.11
• Ocean tourism accounts for more than $700 billion in annual value.p.11

Key insights

1. The Port of Rotterdam generates approximately €45.6 billion, or 6.2% of national value added, when enabled economic activity is counted.p.7
2. Over 3 billion people depend on seafood as a significant source of protein.p.5
3. The paper proposes three functional categorizations of the ocean economy: total, low-carbon and regenerative.p.6
4. Global desalination and water reuse capacity has grown by 40% and 52% since 2020, respectively.p.10
5. Coastal and marine tourism supports approximately 100 million jobs worldwide, roughly 3% of the global workforce.p.11
6. Global average temperatures were 1.5°C higher than pre-industrial levels in 2024 for the first time.p.4