How do humans benefit from the Arctic?

Why the Arctic is so important The Arctic is crucial for lots of reasons. Not just because it’s home to the iconic polar bear, and four million people, but also because it helps keep our world’s climate in balance. The Arctic also helps circulate the world’s ocean currents, moving cold and warm water around the globe.

What is the industry in the Arctic?

Arctic Industry. Recent discoveries of oil, minerals, and diamonds in Arctic areas, and a growing interest in Arctic tourism, are bringing many non-indigenous people to the Arctic to live or visit.

What are the main industries in the Arctic region of Canada?

Today mining (diamonds, gold, silver, lead, zinc), the public sector (government, social and health services), and the service industry (including tourism), are the three main sources of employment in Canada’s Arctic.

What does the Arctic produce?

The most popular minerals include coal, iron ore, zinc, lead, nickel, precious metals, diamonds and gemstones. Arctic Aggregates Production Rock, stone, sand and gravel are mined throughout the Arctic region for a variety of construction projects onshore and off.

What are some goods and services in the Arctic?

Reindeer herding; commercial fisheries; commercial and subsistence hunting, gathering, and small-scale fishing; and recreational and sport hunting and fishing are the provisioning services addressed here. These are the main sources of food produced in the Arctic.

Who Owns the Arctic?

In summary, the Law of the Sea Treaty grants significant undersea portions of the Arctic to Canada, the United States, Russia, Norway and Denmark. These nations gain claim to the natural resources on, above and beneath the ocean floor up to 200 miles from their shoreline.

What is the economic value of the Arctic?

The total economic value of Arctic resources is estimated at $290 billion a year.

How do people make a living in the Arctic lowlands?

Many people in the Arctic today live in modern towns and cities, much like their neighbors to the south. People also work in the Arctic, extracting oil and gas from rich deposits beneath the permafrost, working in tourism, or conducting research.

What is the biggest industry in the Arctic?

Petroleum and mining For the three Territories combined, the major pillar of economic activity has been mining and oil and gas ex- traction. In 2004, these industries accounted for 36.4 per cent of total economic activity in the Territories.

How much is the Arctic worth?

Vocativ has come up with a “best estimate” that the crude oil and natural gas hidden under the Arctic could be worth a “whopping” $17.2 trillion. With other resources such as uranium factored in, that huge figure would rise further still. The site points out that $17.2 trillion is “bigger than the entire US economy”.

Does anyone live in Arctic?

In total, only about 4 million people live in the Arctic worldwide, and in most countries indigenous people make up a minority of the Arctic population. Northern people found many different ways to adapt to the harsh Arctic climate, developing warm dwellings and clothing to protect them from frigid weather.

Who claims Arctic?

All land, internal waters, territorial seas and EEZs in the Arctic are under the jurisdiction of one of the eight Arctic coastal states: Canada, Denmark (via Greenland), Finland, Iceland, Norway, Russia, Sweden and the United States (via Alaska). International law regulates this area as with other portions of Earth.

What is the economy like in the Arctic region?

Economy The economic situation of the circumpolar Arctic is distinct among world regions. The formal economy is based on the large-scale exploitation of natural resources; however, traditional hunting and gathering, fishing, and animal husbandry also continue to be important to northern peoples.

What is it like to live in the Arctic Ocean?

Eight nations circle the Arctic Ocean, infusing it with stories and expertise. A bond with the land is a theme of Arctic life, though Iceland—a verdant dot in the middle of the Gulf Stream—is a far cry from Nunavut, Canada, where sea ice is the main highway for many people. The human journey plays out one person at at time.

How many people live in the Arctic region?

How Many People Live in the Arctic? Four million people live in the Arctic, an estimated one-tenth of which are indigenous (Arctic Human Development Report 2015, see map with the definition of the region). The settlement is spread over eight states: Canada, the United States, Russia, Finland, Sweden, Norway, Iceland and Denmark.

What is the manufacturing like in the Arctic?

Manufacturing is very limited and poorly diversified in the Arctic, so most goods and commodities are imported. A few exceptions stand out. Fish processing occurs in Iceland and Greenland, with most of the products shipped out.