ECONOMY

The Mediterranean is without doubt one of the most important regions in the world. Its geographical location and good climate, as well as the production of important agricultural products – such as olive oil – are just some of its advantages.

The diversity that characterises the Mediterranean region and modern international relations, combined with the growing number of problems at national level, have led from very early on to deadlocks and the need for synergies to overcome them.

As early as the end of the Second World War, the countries that make up today’s Europe, which had suffered economically and politically, turned to cooperation with each other. The aim was to develop relations of trust and to maintain peace and democratic principles, which were established through the development of economic unions.

With agriculture, fisheries and tourism as the main pillars of its economy, the region faces a number of challenges in its development path, which it has to face through the development of a sustainable economy, the adoption of a coherent and coordinated approach by the various stakeholders and the implementation of concrete actions to achieve these objectives.

A very important factor in the development of the economies of the Mediterranean countries is the quality of the products exported, which can be influenced by the modernisation of the technological means available to a country to make it competitive at world level.

Protecting the environment and natural resources, encouraging innovation and the use of new technologies that are sustainable and offer solutions to problems related to the environment and climate change, supporting local communities by strengthening the local economy, cross-border cooperation, these are some of the requirements for overcoming the challenges that the Mediterranean is facing today.

They are prerequisites for a sustainable economy, which is a necessity for ensuring the sustainability of our planet and humanity. Its development is not only about implementing new business models and enhancing economic growth and social well-being, but it is also our obligation towards future generations.

Tourism in the Mediterranean countries

Tourism in the Mediterranean countries

The Mediterranean basin, if considered as a single area, is by far the largest global tourism destination, attracting almost a third of the world’s international tourists (306 million out of 980 million worldwide) and generating more than a quarter of international tourism receipts (190 out of 738 billion Euro worldwide). It is forecasted that the Mediterranean region will reach 500 million of international tourist arrivals by 2030.
Source: GRID-Arendal

Fish catch in the Mediterranean Sea sub-regions

Fish catch in the Mediterranean Sea sub-regions

Fishing is an important issue for the Mediterranean. Although it puts only a relatively small quantity of produce on the market compared with the demand, it is a significant source of employment and an important component of the Mediterranean cultural identity. It accounts for 420.000 jobs, 280.000 of which are fishermen, and the average prices of landed produce are much higher than world prices.
Source: GRID-Arendal

Agriculture and population in the Mediterranean basin

Agriculture and population in the Mediterranean basin

Agriculture in the Mediterranean Basin, despite many different sub-climates, is mainly rain-fed. Cereals, vegetables, and citrus fruits account for over 85 % of the Mediterranean’s total agricultural production (UNEP/MAP/BP/RAC 2009). Cultivation of other products, such as olives for olive oil and grapes for wine, also occupies a significant amount of agricultural land.
Source: GRID-Arendal

Maritime transportation routes in the Mediterranean

Maritime transportation routes in the Mediterranean

Another strong traditional economic sector in the Mediterranean is transport, specifically maritime transport. The Mediterranean Sea is among the world’s busiest waterways, accounting for 15 % of global shipping activity by number of calls and 10 % by vessel deadweight tonnes (dwt). More than 325.000 voyages occurred in the Mediterranean Sea in 2007, representing a capacity of 3.800 million tonnes. Almost two-thirds of the traffic was internal (Mediterranean to Mediterranean), one-quarter was semi-transit voyages of ships mainly of small size, while the remainder was transit voyages, mainly by large vessels travelling between non-Mediterranean ports through the Mediterranean’s various straits: the Straits of Gibraltar, the Straits of the Dardanelles, and the Suez Canal (data provided by REMPEC). Year: 2013
Source: GRID-Arendal

Olive Oil Production by Country 2023

Olive Oil Production by Country 2023

Olive oil is one of the most popular types of oils on the market, and it is also versatile and healthy. For some countries, olive oil is more than merely a condiment, cooking staple, or healthy option, is a source of revenue. In fact, for places like Spain, Italy, and Morocco (the top three olive oil producing countries), olive oil is a major export and source of revenues.

The 10 countries with the highest olive oil production:

  1. Spain – 5,965,080
  2. Italy – 2,194,110
  3. Morocco – 1,912,238
  4. Turkey – 1,525,000
  5. Greece – 1,228,130
  6. Egypt – 1,080,091
  7. Portugal – 997,040
  8. Tunisia – 876,877
  9. Algeria – 868,754
  10. Syria – 844,316