Research Article

From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction

Volume: 3 Number: 2 December 29, 2023
TR EN

From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction

Abstract

The maritime sector has the potential to integrate economic development, environmental conservation, and social inclusion, contributing not only to a country's economic growth but also to maintaining social and economic balance. Ports play a significant role in increasing the welfare of local communities and providing job opportunities. This article highlights the pivotal role of the maritime sector in reducing poverty by generating employment and creating economic value. The employment opportunities and economic value provided by ports play a crucial role in poverty reduction. Using a literature review, the economic significance of ports in Singapore, Norway, Bangladesh, Indonesia, and Nigeria is examined, emphasizing the strength and impact of the maritime sector. These success stories, including Singapore's global trade role, Norway's sustainable maritime practices, Bangladesh's economic development through ports, Indonesia's potential for maritime sector development for growth, and Nigeria's poverty alleviation efforts through ports, are just a few examples. Successful instances underscore the potential of the maritime sector in reducing poverty. By combining economic growth, environmental sustainability, and social inclusivity, this sector can serve as a significant tool in combating poverty.

Keywords

References

  1. Askari, H. R., Bushra, R. T., & Hossain, M. N. (2021). The Maritime Sector in the Economic Development of Bangladesh. Bangladesh Maritime Journal, 5(1), 111-126.
  2. Bari, A. (2017). Our Oceans And The Blue Economy: Opportunities And Challenges. Procedia Engineering, 5-11. Beaton, K., & Hadzi-Vaskov, M. (2017). Panama’s Growth Prospects: Determinants and Sectoral Perspectives. IMF Working Papers.
  3. CEPAL. (2014). The Panama Canal Turns 100: History and Possible Future Scenarios. United Nations, ECLAT. International Monetary Fund. Asia and Pacific Dept. (2013). Bangladesh: Poverty Reduction Strategy Paper. IMF Staff Country Reports.
  4. International Monetary Fund. Western Hemisphere Dept. (2023). Panama’s Growth Story. IMF Staff Country Reports.
  5. International Trade Administration. (2022, September 12). Norway - Country Commercial Guide. Retrieved from Norway - Shipping, Maritime Equipment & Services: https://www.trade.gov/country-commercial-guides/norway-shipping-maritime-equipment-services
  6. MINDEF Singapore. (2018, April 19). Fact Sheet: Safeguarding Singapore's Maritime Trade and Industry. Retrieved from https://www.mindef.gov.sg/web/portal/mindef/news-and-events/latest-releases/article-detail/2018/april/19apr18_fs/
  7. MOE Singapore. (2023, April 14). Maritime. Retrieved from Ministry of Education: https://www.moe.gov.sg/sgis/sponsoring-organisations/industries/maritime#:~:text=The%20maritime%20industry%20in%20Singapore,7%25%20of%20our%20country's%20GDP.
  8. MPA Singapore. (2023, November 10). Global Connectivity. Retrieved from https://www.mpa.gov.sg/regulations-advisory/maritime-singapore/what-maritime-singapore-offers/global-hub-port#:~:text=It%20is%20the%20focal%20point,million%20TEU%20handled%20in%202022.

Details

Primary Language

English

Subjects

Maritime Business Administration

Journal Section

Research Article

Publication Date

December 29, 2023

Submission Date

December 9, 2023

Acceptance Date

December 25, 2023

Published in Issue

Year 2023 Volume: 3 Number: 2

APA
Ayhan, E. E. (2023). From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction. Journal of Marine and Engineering Technology, 3(2), 99-109. https://doi.org/10.58771/joinmet.1402658
AMA
1.Ayhan EE. From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction. JOINMET. 2023;3(2):99-109. doi:10.58771/joinmet.1402658
Chicago
Ayhan, Emine Elif. 2023. “From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction”. Journal of Marine and Engineering Technology 3 (2): 99-109. https://doi.org/10.58771/joinmet.1402658.
EndNote
Ayhan EE (December 1, 2023) From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction. Journal of Marine and Engineering Technology 3 2 99–109.
IEEE
[1]E. E. Ayhan, “From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction”, JOINMET, vol. 3, no. 2, pp. 99–109, Dec. 2023, doi: 10.58771/joinmet.1402658.
ISNAD
Ayhan, Emine Elif. “From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction”. Journal of Marine and Engineering Technology 3/2 (December 1, 2023): 99-109. https://doi.org/10.58771/joinmet.1402658.
JAMA
1.Ayhan EE. From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction. JOINMET. 2023;3:99–109.
MLA
Ayhan, Emine Elif. “From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction”. Journal of Marine and Engineering Technology, vol. 3, no. 2, Dec. 2023, pp. 99-109, doi:10.58771/joinmet.1402658.
Vancouver
1.Emine Elif Ayhan. From Ports to Prosperity: Leveraging Maritime Sector for Poverty Reduction. JOINMET. 2023 Dec. 1;3(2):99-109. doi:10.58771/joinmet.1402658

Cited By