Ocean Multi-use (MU) has gained significant attention as an approach with great potential to promote a more sustainable and space efficient' Blue Economy development. Despite many efforts to implement the multi-use concept into practice, MU still has many practical challenges, which is even more evident outside the European context, where there is significant policy support for MU. This paper aims to elucidate how MU can bolster the local blue economy, particularly within the context of the Global South. The research is based on a case study in southern Brazil, within a traditional fishing community that occupies a marine protected area. A practical analysis of the synergies between community-based tourism, artisanal fishing and conservation was done through interviews with key stakeholders. The main benefits, constraints, opportunities, and risks of MU activities were identified. Results demonstrate the positive impact of MU promoting revenue, environmental education, and cultural and historical attributes. MU has shown great positive impact on social, economic, and environmental aspects within this case study. Key enabling factors that allowed the MU development were horizontal participatory governance and the protagonist of fishers. In terms of existing challenges, the absence of investment in infrastructure, fragmented governance and lack of institutional support was pointed out as the main constraint and limitations to strengthening MU. We argue that MU can be an important strategy for promoting the local blue economy. In the Global South context, the efficacy of MU initiatives appears intricately tied to the participation of local actors in a manner tailored to local contexts and challenges.