B.C. ocean’s worth of almost $5 billion to GDP likely an underestimate

Newswise — British Columbia’s ocean contributed almost $5 billion to provincial gross domestic product in 2015, a sum that is likely an underestimate, a new UBC study has found.The ‘back of the envelope’ estimate could be used by non-economists to work out a baseline of what oceans contribute to the economy, as part of achieving the United Nations’ goal of sustainable oceans by 2030.Senior author Dr. Rashid Sumaila, professor in the Institute for the Oceans and Fisheries and school of public policy and global affairs, discusses why this value is likely an underestimate when the living ocean’s full contribution is taken into account.

Author: University of British Columbia