Italy’s untapped Blue Economy potential

This is one of the key findings of the research promoted by the Sustainability Lab at SDA Bocconi School of Management, in joint with Intesa Sanpaolo, in launching the Blue Monitor. Although Italy’s marine economy is already a driving force that contributes substantially to GDP and employment, the study shows that strategically protecting and restoring marine ecosystems can generate new flows of economic value, creating jobs and stimulating innovation in ways that have so far been underestimated. 

The questions 

Italy has a robust marine economy encompassing established sectors such as coastal tourism, maritime transport, and fishing. With an extensive coastline and a strategic location in the Mediterranean, Italy holds a prominent position in Europe as a maritime leader. However, the economic potential specifically tied to the conservation and sustainable use of marine ecosystems, aka Blue Natural Capital, is still largely unexplored. 

New research by the Blue Monitor seeks to answer a broad range of questions: 

• What is the current contribution of Italy’s marine economy? 
• How does Italy compare to other EU countries in key marine sectors? 
• What are the emerging segments of the blue economy? 
• How can investments in protecting and restoring marine natural capital generate tangible economic benefits and new business opportunities? 
• What tools and policies are needed to unlock this potential? 

Fieldwork 

The researchers analyzed and synthesized data and findings from national and European sources, including studies on marine biodiversity, reports on the Blue Economy, research on marine protected areas, blue carbon (i.e., carbon absorbed by marine and coastal ecosystems), digital technologies, and financial instruments. 

In 2022, Italy’s marine economy recorded noteworthy  figures: 

• The gross value added (GVA) of established marine sectors reached €64.6 billion (+15.1% from the previous year, more than twice the national growth rate of 6.9%). 
• The total direct and indirect economic impact amounted to €178.3 billion, equal to 10.2% of national GDP. 
• Employment surpassed 1 million people (+6.7% year-on-year, nearly four times the national rate). 
• The sector includes nearly 228,000 companies, growing by 4.3%, in contrast with a 2.2% decline in the broader business landscape. 
• Italy ranks among the top five EU countries in terms of marine value-added production. 

The three Italian Blue Economy sectors generating the most GVA are coastal tourism (accommodation and food services, with €18.5 billion in GVA and 410,700 employees); research, regulation and environmental protection (€15.9 billion and 155,900 employees); and maritime transport (€12.7 billion and 141,200 employees—Italian ports generate 12% of European GVA in this field). 

Among emerging sectors, notable ones include marine renewable energy (currently limited capacity, but strong potential for offshore wind, wave and tidal energy), marine biotechnology and biopharmaceuticals (with 10% of EU companies being Italian), and maritime security and surveillance (with strong synergies with shipbuilding, electronics, and digital technologies). 

The study highlights the entrepreneurial opportunities tied to the conservation and restoration of Blue Natural Capital. Nature-based solutions, such as marine protected areas (MPAs), offer concrete benefits such as increased fish biomass (up to +54%) and growth in sustainable tourism: the MPAs of Porto Cesareo (€70.4 million/year) and the Tremiti Islands (€25.1 million/year) show sizeable impacts, including on employment (each MPA can generate 30–50 direct jobs). 

Digital technologies and marine data also represent a major opportunity. For example, AI-based monitoring can prevent 20–40% of losses in aquaculture and boost fish stock growth rates by 47%. The global market for maritime digitalization could exceed $423 billion by 2031. Controlling marine pollution yields savings  and makes coastal areas more attractive for tourism and fishing. (Beach cleanup alone costs over €413 million per year in the EU.) Innovative infrastructure, such as offshore renewables, could generate over 25,000 direct jobs in Italy by 2030. 

Looking ahead 

The study’s findings point to an urgent need to accelerate the protection of marine ecosystems. Currently, Italy safeguards only 12% of its marine surface, far from the EU target of 30% by 2030 (with at least 10% under strict protection). To close this gap, Italy will need to establish new MPAs and shore up existing ones, provide adequate resourcing for implementation, and build a more stable and coherent regulatory framework that limits fragmentation and facilitates long-term investment. 

Meaningful steps forward are represented by the National Biodiversity Strategy to 2030 and the €400 million already allocated for marine ecosystem restoration through the National Recovery and Resilience Plan (the Italian implementation of Next Generation EU).  But what’s needed now is a long-term commitment that goes beyond extraordinary funding.