The Middle East and North Africa (MENA) are demonstrating that some of the most significant innovations are emerging from the ocean economy. By 2030, MENA’s ocean economy presents a compelling opportunity to reach $300-500 billion, potentially accounting for 10% of the region’s entire GDP. This represents more than an economic pivot; it’s a strategic transformation where nations are building their futures on the understanding that sustainability and economic success are inherently linked.
The ocean represents one of the planet’s most powerful economic engines. Covering 75% of Earth’s surface and holding 97% of its water, our oceans host 80% of global biodiversity while providing nearly 15% of dietary protein worldwide. The global ocean economy already generates $3-4 trillion annually (≈3–4% of global GDP), and employs more than 400 million people worldwide.
The MENA region, traditionally associated with oil and gas production, is home to 20,000 kilometers of coastline rich with untapped potential. Insights from COP28 in the UAE and COP16 in Saudi Arabia have accelerated environmental action in the region and positioned the Persian Gulf, Red Sea, and Mediterranean as leaders in the transition to a sustainable future.
The momentum behind the blue economy reflects recognition that sustainability creates long-term economic and environmental value. While the region faces challenges, including high per capita plastic pollution and urban development pressures, these challenges present opportunities for innovation. Examples of rapid coastal erosion linked to urban development exist in the region, creating space for bold solutions that can serve as global models.
With rising sea temperatures and levels, the region’s marine ecosystems require adaptive management approaches, creating opportunities for coordinated innovation. Hydrogen production facilities and solar power installations are key components of this innovation landscape. Stronger regional cooperation and more aligned regulatory frameworks can further accelerate progress towards becoming a renewable energy leader.
The $500 billion opportunity represents a transformation driven by strategic vision. This transformation is already underway, with tourism being a primary growth driver. Growing at 8% annually, the sector could contribute $200-300 billion by decade’s end through integrated coastal development that combines luxury with sustainability, creating experiences that generate value while enhancing natural ecosystems.
Beyond traditional maritime tourism, the region’s rich marine biodiversity is becoming the foundation for eco-tourism, marine research facilities, and conservation programs that generate revenue while protecting ecosystems. The MENA region is strategically expanding its offshore renewable energy capabilities, understanding that diversification from fossil fuels creates new opportunities. Rather than abandoning its energy heritage, the region is innovating through offshore wind farms and expanding hydrogen production facilities, supporting energy transition goals. The expertise that established MENA as a global energy leader is now being applied to harness ocean winds and waves, reflecting a growth model that integrates economic and environmental value.
Ocean-related technologies in the region are projected to grow 38% annually in revenue, spanning marine waste management to carbon capture, utilization, and storage (CCUS) solutions. Marine biotechnology is emerging as a high-potential frontier, with specialized research institutions developing across the region. The genetic resources within MENA’s diverse marine ecosystems offer possibilities for new medicines, sustainable materials, and innovative solutions.
Achieving sustainable transformation of the ocean economy in the MENA region requires a long-term approach and coordinated effort with multi-generational impact. Cross-sector collaboration, bringing together public and private stakeholders, is essential for success. This requires financial institutions to develop innovative blue financing tools, private sector players to scale sustainable coastal development, research institutions to create resilience-based frameworks, and local communities to actively participate in unified coastal planning.
The potential $500 billion opportunity represents positioning the MENA region as a global leader in the transition from resource extraction to regenerative economics. The ocean systems that once connected ancient trade routes are becoming the foundation for 21st-century economic prosperity, demonstrating how regions can create value through sustainable innovation.
By Yvonne Zhou, Managing Director and Senior Partner, Boston Consulting Group