Title: Investigating the impact of blue economy factors such as tourism, fishing and renewable energy on economic growth: fresh panel evidence from Bangladesh, Myanmar and India

Authors: Mst. Jannatul Mawa; Ahsan Habib; Nayem Miah; Imtiaz Uddin; Md. Hasanur Rahman

Addresses: Department of Tourism and Hospitality Management, Noakhali Science and Technology University, Noakhali-3814, Bangladesh ' Department of Economics, University of North Texas, Texas 76201, USA ' Department of Management, University of the Cumberlands, 6178 College Station Drive Williamsburg, KY 40769, USA ' Department of Sociology, University of Chittagong, Chattogram, Bangladesh ' Department of Economics, Rabindra University, Shahjadpur, Sirajganj 6770, Bangladesh

Abstract: The present study examined the factors of the blue economy and measured the influence of the selected factors on economic growth. This study conducted a balanced panel analysis using secondary data spanning from 1995 to 2023. The unit root test results state that variables are stationary at first differences, and there is cointegration. The major findings of this study indicate a positive association between renewable energy use and economic growth. A 1% increase in renewable energy consumption tends to boost economic growth by 0.18%. Tourism has failed to determine economic growth in this selected panel group. More precisely, a 1% increase in fishing value boosts economic growth by 0.44%. The economic significance of fishing in Bangladesh, India, and Myanmar is very high. This study makes a significant contribution by analysing the correlation between the characteristics of the blue economy and economic growth in Bangladesh, Myanmar, and India.

Keywords: blue economy; BE; economic growth; new panel; green energy; tourism development; Bangladesh; Myanmar; India.

DOI: 10.1504/IJGE.2026.153218

International Journal of Green Economics, 2026 Vol.20 No.2, pp.89 - 107

Received: 10 Jul 2024
Accepted: 24 Jul 2025
Published online: 29 Apr 2026 *

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