The Eastern Cape has become the first province to launch a dedicated Oceans Economy Satellite Account, a data-driven blueprint mapping the province's total maritime potential across shipping, fishing, tourism, and offshore gas exploration. While the account highlights controversial areas such as offshore gas, it also indicates tourism as among the sector's top three contributors.

The Eastern Cape launched the first provincial Oceans Economy Satellite Account, a data-driven blueprint detailing its full maritime potential, including shipping, fishing, tourism, and offshore gas exploration.

The Eastern Cape has become the first province in South Africa to launch a dedicated Ocean Economy Satellite Account - providing data for investors.

The Satellite Account is the official data investors use to assess risk and return. According to the research, this is the first verifiable, large-scale dataset on a specific South African ocean economy.

What is the Oceans Economy?

The Oceans Economy refers to the range of economic activities that promote the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of the ocean ecosystem.

Eleven years ago, the scoping study by the National Operation Phakisa: Oceans Economy Secretariat, found that the ocean's economy could contribute up to R177-billion...