A strategic guide to the Nordic Ocean Economy
The Ocean defines the Nordics. It has shaped their societies, driven their economies, and connected their eight nations for centuries. Today, it still holds the region’s largest untapped value — and the next wave of economic opportunity.
Globally, the Ocean Economy is reaching a tipping point. New technologies, growing scientific understanding, and stronger market demand are opening the door to breakthroughs in how we explore, use, and protect the ocean. The Ocean covers 70% of the planet, yet over 80% remains unexplored. Its full value is only beginning to be understood.
In this context, the Nordics are uniquely positioned. They control vast ocean territories, have deep industrial know-how, and a strong record of ocean innovation. This region has the potential to become one of the world’s leading hubs for new ocean solutions — and a key destination for capital and talent.
The Nordic Ocean Opportunity is a strategic investment report designed to help investors of all types understand and engage with this moment. Using the FRONTTIER investment thesis framework, it brings structure and clarity to a complex and fast-changing market — showing where the real opportunities lie and how to act on them.
The report is based on:
- Data from 500 Nordic ocean companies
- A survey of 200 people working in the ocean economy
- 40 investor interviews
- Regional analysis across Norway, Sweden, Denmark, Finland, Iceland, Greenland, the Faroe Islands, and Åland
Why this report matters
- The Ocean Economy already accounts for 15% of Nordic GDP
- 1 in 3 of the region’s most valuable public companies are ocean-based
- The Nordics’ ocean territory is twice as large as their land — and up to 7x in Norway and Iceland
The Ocean is the Nordics’ largest natural resource, one of its greatest economic assets, and the sector where the region has built some of its strongest global success stories.
This report explains why the time to invest is now, and why the Nordics are in a strong position to lead the next wave of ocean-driven innovation.
It is also where the next generation of Nordic winners is most likely to emerge.
What you will find inside the report
This report uses a clear investment thesis to help investors understand and navigate the Nordic Ocean Economy
An investment thesis is a structured way to define where the best opportunities are, why they matter, and how to focus time and resources effectively. It brings clarity to complex markets and helps guide smart, long-term decisions.
The report answers five key questions for investors:
- What is the ocean opportunity? Identifying the value within the Ocean Economy.
- Why invest now? Highlighting the trends and shifts that make this the right time to invest.
- Where to focus? Analyzing why the Nordics are uniquely positioned to capture this opportunity.
- What is the current landscape? Giving an overview of the Nordic Ocean Economy landscape today.
- What are the key opportunity segments? Pinpointing areas with the highest potential for investment.
Who should read this report
- Investors of all types, who want to be early in one of the world’s most underexplored and high-potential markets.
- Founders and ocean entrepreneurs, who want to better understand the ocean economy landscape and find their unique value proposition.
- Policymakers and regional leaders, who want to work across borders and strengthen the Nordics’ global leadership in ocean innovation.
Project Partners:
The project is led by FRONTTIER in collaboration with Danish Ocean Cluster, Port of Hirtshals, North Sea Science Park, Innovatum Science Park and RISE.
