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Strategic Evaluation of Blue Economy Components with Grey Theory: A Sustainability Perspective

Author

Listed:
  • Gülay Demir

    (Sivas Cumhuriyet University)

  • Prasenjit Chatterjee

    (MCKV Institute of Engineering)

  • Ercan Özen

    (University of Uşak)

Abstract

Blue economy refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and ocean ecosystem health, making it vital for regions with extensive coastlines and rich marine resources. This study employs a grey decision-making trial and evaluation laboratory (DEMATEL) method to evaluate eight critical criteria influencing blue economy. The analysis reveals that environmental sustainability holds the highest relative importance with a value of 2.0094, emphasizing the need for preserving marine ecosystems. Legal and regulatory framework and Economic growth follow closely with values of 1.6916 and 1.8119, respectively, indicating their essential roles in supporting successful blue economy projects. In terms of influence, the Legal and Regulatory Framework emerges as the most impactful criterion, with a value of 0.4549, suggesting that effective legal measures significantly shape other areas of blue economy. Conversely, Investment and Financing Opportunities are identified as the most affected criterion, with a value of -0.3974, indicating their heavy dependence on legal frameworks and technological advancements. These findings highlight the necessity of a balanced approach that integrates environmental, economic, and legal factors for successful blue economy initiatives. The practical implications provide valuable insights for resource allocation, regulatory compliance, and strategic planning, suggesting that future research could benefit from broader geographical analyses and advanced decision-making techniques.

Suggested Citation

  • Gülay Demir & Prasenjit Chatterjee & Ercan Özen, 2025. "Strategic Evaluation of Blue Economy Components with Grey Theory: A Sustainability Perspective," Springer Proceedings in Business and Economics,, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-91778-3_10
    DOI: 10.1007/978-3-031-91778-3_10
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