The Maritime Economy and its Potential for Economic Upliftment in South Africa

South Africa has a long coastline and is blessed with two contrasting oceans. Indeed, our colonial past was founded on this. It is a surprise and disappointment that our maritime economy is not reflective of this. While other countries are deriving significant benefits from marine gas and oil deposits, coastal tourism and robust fishing industries, we are underperforming.

Instead of flogging a rapidly diminishing mining sector, there should be a bigger focus on the maritime economy[1], which could be grown to rival any in the world. Specific areas to look into include:

·      Gas and oil

·      Fisheries

·      Coastal tourism and cruises

·      Desalination technology that could be marketed around the world

·      Scientific and other deep-sea exploration expertise

·      Boat building and repairs

·      Refineries

·      Revitalisation of the Cape trade route (e.g. in competition with the Suez-canal)

---

[1] The maritime economy has the potential to be bigger than the mining sector. Examples like Singapore, Egypt with the Suez or Panama with the canal, Angola and Nigeria with the oil can be studied to see how their fortunes were transformed by their marine economies