The OECD has released the report "The Ocean Economy to 2050," which provides detailed forecasts and analyses on the future of marine sectors. Recognising the ocean as a powerful economic driver—equivalent to the world’s fifth-largest economy—the report emphasises significant transformations expected in the marine economy by 2050.

Recreational boating is notably discussed within the broader category of marine and coastal tourism, identified as one of the largest segments in terms of economic value and employment. According to the report, marine and coastal tourism generated over USD 1 trillion in gross value added (GVA) in 2019, highlighting its critical role in the global ocean economy.

The OECD underlines that coastal and marine tourism will likely continue to expand due to growing demand from emerging economies and an ageing demographic in Europe and North America. However, the industry also faces vulnerabilities from climate risks such as extreme weather events, coral bleaching, and rising sea levels, potentially impacting tourist destinations and coastal infrastructures.

Strategic recommendations from the OECD for sustaining growth in the boating and marine tourism sectors include enhancing ocean governance, promoting technological innovations such as digital transformation, and advancing ocean data collection for better-informed policy decisions. These measures are considered crucial for ensuring long-term environmental sustainability and economic resilience.

Read the full report here.