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Croatia Has Potential to Become a Blue Economy Champion in the EU

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Croatia’s coast and sea are key national assets that contribute significantly to the country’s economy and give Croatia a competitive edge as an attractive tourism destination. The tourism sector alone contributed with 20 percent to Croatia’s GDP. Yet, as a semi-enclosed sea, the Adriatic is becoming increasingly vulnerable to impacts from economic activities, including a rapidly growing environmental footprint from the tourism industry. Climate change is likely to further exacerbate these effects.

To help Croatia foster sustainable and green economic growth while addressing environmental and climate impacts and protect its coastal and marine natural capital, the Ministry of Economy and Sustainable Development of the Republic of Croatia and the World Bank, convened leading national and international development and environment experts and stakeholders in a virtual workshop – Investing in a Sustainable Blue Economy in Croatia. The event contributed to strengthening the national dialogue on the Blue Economy and provided an added focus for considering Croatia’s coastal and marine natural capital in the country’s Blue Economy and Green Growth Development Strategy, as well in its climate adaptation and mitigation responses.  

“Aware of the environmental pressure that tourism, with its unquestionable benefits for the economy, put on on water and the sea as key components of the environment, we are grateful to the World Bank for encouraging the discussion on the importance of the blue economy for Croatia,  the opportunities for funding of certain segments of the blue economy and possible further steps. To reduce this pressure, the Ministry of Economy and Sustainable Development is implementing a number of water supply and sanitation projects. So far, within the Competitiveness and Cohesion 2014-2020 Operational Programme, a total of 60 water supply and sanitation projects worth HRK 25.78 billion including VAT have been financed, of which eligible costs amount to HRK 20.5 billion, while EU funds amount to HRK 14.36 billion. A significant part of these funds relates to projects in the Adriatic part of Croatia, taking into account the sustainability of Croatian tourism,” highlighted Elizabeta Kos Director, Ministry of Economy and Sustainable Development of Croatia, Directorate for Water Management and Sea Protection.

A Blue Economy model involves sustainable use of maritime resources for economic growth and improved livelihoods and jobs, while preserving the natural capital of the oceans, seas, and coasts. The Blue Economy model is at the forefront of the sustainability agenda globally and part of the European Green Deal (EGD), aimed at helping European Union members meet their economic needs while addressing their sustainability goals, including climate change adaptation.

“The World Bank is committed to supporting the Government of Croatia’s efforts to protect the country’s natural capital, address climate vulnerabilities, and reduce the energy intensity of the economy,” said Jehan Arulpragasam, World Bank Country Manager for Croatia. Croatia has the potential to become a Blue Economy champion in the EU, where it has the highest relative contribution of the blue economy to the national gross value added and employment, and the World Bank stands ready to support Croatia with its global knowledge to achieve this goal.”

To assess the challenges Croatia faces, a recent World Bank report on the cost of environmental degradation (CoED) in Croatia estimates economic and social costs of environmental degradation of Croatia’s marine and coastal assets due to loss of ecosystem services, inadequate waste and wastewater management, marine litter, air pollution, and the environmental impacts of tourism. For example, the loss of ecosystem services, which provide vital services and are the foundation for economic growth, including for the tourism industry, is estimated at EUR 90 million annually. Marine litter causes additional costs to port operations estimated at EUR 20 million or more annually, while insufficient treatment of waste and water pollution from the tourism sector is estimated to cost EUR 55 million per year.

“Oceans, seas, and coasts offer great opportunities for sustainable and inclusive economic growth in fisheries, aquaculture, mariculture, coastal tourism, marine biotechnology, and renewable energy,” noted Kseniya Lvovsky, Practice Manager, World Bank Environment, Natural Resources, and Blue Economy for Europe and Central Asia. “They also play a critical role in reducing greenhouse gas emissions by absorbing carbon from the atmosphere and in enhancing climate resilience of coastal areas. Sustainable management of marine and coastal resources requires collaboration across industries, public and private sectors, and nations.”

The virtual workshop gathered key stakeholders from the Ministry of Economy and Sustainable Development, Ministry of Sea, Transport and Infrastructure, Ministry of Physical Planning, Construction And State Assets, Ministry of Agriculture, Ministry of Tourism and Sport and  other government agencies, institutes, development partners, the private sector, civil society, and leading national and international development and environment experts.

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How to Prepare for Your First Year in College

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Securing college admission is an achievement you should be proud of. It feels even more fulfilling if you are admitted to your dream college. Many people were interested in the opportunity, and getting it is the best thing that can ever happen to you. Therefore, you shouldn’t take the opportunity for granted.

However, the transition isn’t always easy for students. Most of them do not know what to expect in college, which makes them anxious. For others, moving away from home for the first time is intimidating. Besides, some individuals may not know how to deal with the financial and academic challenges they may face in college.

Are you done with high school, and you’re now looking forward to college adventures? Here are excellent tips to help you prepare for your first year in college.

Schedule a Tour and Get to Know Your College

Most students wait until the admission day to have a college experience. If you do that, it may take you a lot of time to understand the environment. Consequently, you may not focus on your studies early on. Checking out the outline of the campus on online platforms may also not help as you may miss many details.

You should schedule a tour of the campus and have a first-hand experience with the environment. During the tour, confirm the location of important offices. Moreover, you should know the class venues and the library. It will make your life easy when you finally begin to study.

Work on Your College Budget in Advance

Financial issues are among the serious challenges collegians face. While the expenses are limitless, there are limited sources of income. If you’re not careful, you may run out of money before the end of a given study period. You may get carried away by the daily shopping, luxury items, and the push to spend on entertainment.

Before you begin your first college semester, create a functional budget. Identify your sources of income. After that, list your college expenses. Allocate money to all your expenses, beginning with the basic needs. The luxuries should come last.

Sharpen Your College Writing and Study Skills

College life isn’t all butterflies and rainbows. There is serious work to do, and you may have to study more than you used to when in high school. The grades you’ll attain in different papers like essays, dissertations, and case studies will determine if you’ll move to the next level or not. So you have to sharpen your writing skills, or you’ll find yourself seeking essay help online.

Read journals, books, and essays written by experts. It will help improve your study skills and your ability to read fast. Besides, you can mimic the styles you see in these materials when completing your college assignment. The chances of getting good grades in college increase when you are a good writer and reader.

Set Realistic College Academic Goals

The main reason for going to college is to acquire skills that can help you in life. Professors do not award grades randomly. You should convince them that you understand the course concepts by submitting excellent papers. Otherwise, you may fail to graduate at the right time.

Some people begin college education without a plan. If you do that, you may not achieve what you want. Set realistic goals and specify the level of competence you intend to achieve at the end of your course. You should have short-term, medium-term, and long-term academic goals to act as a motivation to work harder.

Improve Your Time Management Skills

Time is one of the most critical aspects of a college education. If you do not organize your activities perfectly, you may become overwhelmed. Remember, it will not always be about academics; you’ll have extracurricular activities to participate in, you’ll also need to socialize, and may be you’ll have a part-time job. Therefore, it will be important to balance everything.

Look at the college academic and activity schedule in advance. Assess the deadlines and purpose to begin working on important tasks early. You’ll have higher chances of college success if you work within deadlines.

Excellent ways of enhancing time management include:

  • Working on the most important tasks first
  • Avoiding distractions
  • Avoiding procrastination
  • Creating time to relax

Take-Home Point

Although your first college semester may be scary, you can make things easier for yourself. Touring your college of choice will help release some tension as you’ll not be a total stranger to the new environment when you finally get admitted. Creating a budget will also help avoid financial problems, thus making your life easier. Lastly, you should set realistic goals and work on your time management skills.

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Unlocking the Triple Returns from Social, Tech and Green Jobs

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New insights and initiatives at the World Economic Forum’s Annual Meeting 2022 seek to launch a jobs recovery to strengthen resilience and dynamism in economies, businesses and societies in the midst of a turbulent outlook.

Investing in education, health and care jobs can yield a triple dividend – boosting economic activity, expanding employment opportunities and generating social mobility. New modelling of the United States economy suggests that investing $1 in social jobs would yield a $2.3 return. The model estimates that $1.3 trillion in the social jobs of tomorrow could unlock $3.1 trillion in GDP returns and create 11 million jobs by 2030.
 
These jobs include 4.2 million teaching jobs, 1.8 million jobs for personal care and service workers, and 900,000 jobs in healthcare. These are the key findings of the World Economic Forum’s new report Jobs of Tomorrow: The Triple Returns of Social Jobs in the Economic Recovery, published at the World Economic Forum Annual Meeting 2022 today.
 
Developed in collaboration with Accenture, the report finds that the associated increases in productivity, increased GDP and tighter labour markets will lead to a parallel increase in real wages. Aided by technology and better skills, the jobs of tomorrow have the potential to lift living standards globally. After more than two years of turmoil in the global economy and a continued uncertain outlook, leaders need to support workers in pivoting towards a future which works for everyone. Higher wage, higher-quality, future-ready jobs are possible and benefit companies, workers and economies alike.

Good Work in the New Economy
 
As many employers and workers seek a “new normal” after the disruptions of the past few years, there is an opportunity to develop a new vision for the future of work, one that is ready for the new economy and society. Five key issues have emerged that need to be addressed to ensure better work for workers and employers alike: volatility in wages and the cost of living; divergence on the demand for flexibility; silent pandemic in well-being; an erosion of diversity, equity and inclusion gains; and the need for a reskilling revolution.
 
The Good Work Framework, a second report released at the Annual Meeting, drawing from the views of employers, unions and experts and developed in collaboration with Mercer, proposes enhancing job quality through five objectives and associated goals: promote fair pay and social justice; provide flexibility and protection; deliver on health and well-being; drive diversity, equity and inclusion; and foster employability and learning culture.
 
The Jobs Consortium
 
To support this broad agenda and to mobilize the required investments globally, the first meeting of the Jobs Consortium was held at the World Economic Forum’s Annual Meeting in Davos. The initiative comprises CEOs and ministers championing productive employment, growth in the jobs of tomorrow, new standards in the workplace and better wages for all.
 
Underpinning the Jobs Consortium is a shared understanding of the need to expand opportunity and quality in the jobs of tomorrow, with a particular focus on social, green and tech jobs as the high-growth, job-creating sectors of the future. The initiative is supported by insight products, action frameworks and a collaboration platform, which develop expert knowledge to drive tangible change, and will work closely with initiatives on developing skills for the global workforce.
 
Refugee Employment and Employability
 
Refugees are a particularly vulnerable group, often excluded from the labour markets of host economies. Over 6 million refugees have left Ukraine since February 2022, adding to the estimated 31 million people worldwide who have been forcibly displaced across borders.
 
As businesses mobilize to assist refugees with integration into host communities and workforces, the World Economic Forum’s Chief Human Resources Officers community, drawn from over 140 organizations, has launched a Refugee Employment and Employability Initiative. The initiative will pilot its work with supporting learning and job opportunities for Ukrainian refugees in Europe in its first phase and draw best practices to build a methodology for supporting system-wide global support from employers for refugees.
 
“Our ambition is to lead with action and we know that refugees bring a broad set of skills, experience and perspectives that benefit societies and businesses. Helping people find work isn’t just a humanitarian effort, it’s also good for business,” said Jesper Brodin, CEO of Ingka Group.

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New Initiative to Strengthen Cross-Border Investment in the Digital Economy

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A pioneering effort to facilitate cross-border investment in the digital economy was launched this week at the World Economic Forum Annual Meeting 2022.

The new initiative on digital foreign direct investment, the Digital FDI initiative, will implement projects in several countries to help grow Digital FDI, as the reforms to attract such investment must take place at a country level. The first digital FDI project will take place in Nigeria.

Over the past few years, the Forum has worked to find the right partners to guide the work, develop principles published in the white paper launched in 2020 and share the potential for cooperation at the G20 and other platforms of corporation.

Attracting Digital FDI requires creating digital-friendly investment climates through targeted and country-specific policies, regulations and measures. These investments involve new business models, often based on data and technology, and platform economies, as well as using non-traditional assets. The Digital FDI initiative will aim to identify and implement enabling reforms through public-private projects in emerging markets and developing countries.

“Global FDI is rebounding, following the COVID-19 pandemic, and investment in the digital economy could not come at a better time. These country projects will help grow FDI into the digital economy, which is key for long-term growth, competitiveness and sustainable development”, said Børge Brende, President, World Economic Forum.

The Digital FDI initiative will be delivered as a joint effort between the World Economic Forum and the Digital Cooperation Organization (DCO), a new international organization that seeks to enable digital prosperity for all.

“As the first and only global multilateral focused on enabling digital prosperity for all, the DCO is partnering with the Forum on a Digital Foreign Direct Investment initiative to help countries develop digital FDI-friendly investment climates. We invite digital innovators with a commitment to economic development and inclusion to join us,” said Deemah Al Yahya, Secretary-General, DCO.

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