Ocean economy report finds Galway on crest of a wave

THE Galway Bay marine sectors are ‘well positioned’ to capitalise on a doubling in size of the global ocean economy – to €3 trillion – between now and 2030, according to an influential report published this week.

According to Cuan Beo – a community-based organisation with the aim of improving the economy and environment around Galway Bay – the future potential of Inner Galway Bay ‘is greater and more diverse than we may have imagined’.

The report for Cuan Beo [Living Harbour] – compiled by Colm O’Dowd Research Support Services – looked at what’s called the Catchment 29 area which stretches 117km from the Docks in Galway city along the coastline to Black Head in Co. Clare.

Conducted during the height of the Covid-19 crisis ‘when relatively stable markets had disappeared’, the study however observes that coastal and rural locations regained their popularity, as people were confined to their localities during the lockdown.

“There was time to reconsider and reimagine how our society, economy and culture could change and a heightened sense of awareness of the value of our natural environment emerged.

“In summary, this study reveals the future potential of Inner Galway Bay is greater and more diverse than we have imagined.”

See full coverage in this week’s Connacht Tribune, on sale in shops now – or download the digital edition from www.connachttribune.ie