Approaches in the world and in Vietnam Ocean Economy - Definition and classification

Abstract

The ocean economy is essential to the
future welfare and prosperity of humankind as a lot
of countries and hundreds of millions of people
depend on it. The estimation and recognition of the
ocean economy’s value are therefore significant.
However, it is complicated to compare the ocean
economy among countries because of the differences
in definition, classification standard and scope. This
study aims to provide perspectives of the ocean
economy of some countries such as the U.S.,
Australia, UK, and Japan as well as of renowned
academics. Consequently, the ocean economy is
defined in the study as the economic activities that
take place on the sea or in the sea; economic
activities using resources from the sea in the process
of producing goods and providing services; economic
activities that provide goods and services for
economic activities that take place on the sea or in
the sea.