Marine Services

While the contribution of services sectors in general is rising for most of the countries of the world, marine services segment exhibit significant potential for growth in the future. In the context of blue economy these sectors assume higher importance. As the magnitude of investment is expected to rise in view of increasing blue economy orientation in the coastal countries, in-depth analysis of the potential and prospects of marine services is important. Major services sectors include ports & shipping, tourism, banking and financial services, transport & logistics, marine commerce, ICT, and others. In the tourism sector, leisure cruise, coastal tourism, bird watching, angling, fishing and other related services have huge potential for wage-employment in local areas and foreign exchange earnings. As blue economy policies are implemented fully, the need for project financing, term financing and brokerage services would grow. This, in turn, would require a deep marine banking and financial services sectors. Moreover, the resources needed for financing deep sea mining projects may be large which can help prosper investment banking. Likewise, other sectors of marine services will also deepen in the future.