February 27, 2025

Sustainable aquaculture key to supporting Philippine food security, ADB says

The Asian Development Bank (ADB) said sustainable fisheries and aquaculture are crucial to supporting coastal livelihoods and food security in the Philippines.

"These key blue-economy sectors are vital for supporting coastal livelihoods and ensuring food security, especially in countries like Bangladesh, Indonesia, the Maldives, the Philippines, Vietnam, and Pacific small-island developing states," the ADB said in its 2025 Asia-Pacific Sustainable Development Goals (SDGs) Partnership report.

The ADB projected that with sustainable management, the economic value of coastal tourism in the Asia-Pacific region could more than double by 2030.

"This growth underscores the sector's dynamism, especially as an engine of job growth, and highlights the critical need for targeted investment in workforce training," ADB said. "However, many jobs in the sector are seasonal or informal, with issues ranging from variable working hours and low wages to limited social protection."

The ADB estimates that the Philippine coastal destinations accounted for four million tourism-related jobs, against India (9.6 million) and Indonesia (10.7 million).

The bank said coastal tourism has become "indispensable" for these economies, providing a critical source of income and fostering service-oriented skills at the community level.

"As such, the blue economy, a subset of the green economy, requires specific attention. Sustainable fisheries are projected to grow rapidly, with the region's fish farms anticipated to produce over 60% of global fish supplies by 2030," it said.

- BusinessWorld