Small Group of Companies Controls 60% of Ocean Economy
A relatively small cohort of companies generates more than half the annual revenues in the ocean economy, according to new data from Duke University’s Fuqua School of Business.
Dubbed the “Ocean 100,” these transnational companies collectively earned $1.1 trillion in revenues in 2018, according to the report published in the journal Science Advances.
That sum represents about 60 percent of total revenues from ocean-based economic activity in 2018, the most recent data available. If the group were a country, its gross domestic product would roughly equal that of Mexico, the researchers noted.
The report offers new implications for the sustainability of the world’s oceans and the industries that depend on them.