by Lacey Pfalz
Last updated: 8:55 AM ET, Thu November 21, 2024
The World Travel & Tourism Council (WTTC) estimates that protecting coastal and marine tourism from the negative effects of climate change will cost $65 billion annually worldwide, according to a new report the organization released during Ocean Action Day at COP29 in Baku, Azerbaijan.
The WTTC’s new report, “Climate and Ocean: Quantifying Coastal and Marine Tourism and Protecting Destinations” will be released soon. It was developed in a collaboration with Iberostar Group and Oxford Economics.
According to the research, direct emissions reductions for mitigating climate change’s impact on coastal and marine tourism will cost the globe about $30 billion, with climate adaptation efforts reaching $65 billion.
The sub-sector of coastal and marine tourism generated $1.5 trillion and supported 52 million jobs globally in 2023, and also accounted for 50 percent of all tourist spending. The sector contributed 0.8 percent of global greenhouse gas emissions.
Coastal regions are at an increased risk for natural disasters caused by extreme weather, coastal erosion and rising sea levels and temperatures, all exacerbated effects of climate change. Additionally, many coastal regions are located in Small Island Developing States and Pacific coastal areas in which funding for climate mitigation efforts is challenging. Climate change is also impacting how travelers are thinking about travel.
The WTTC encourages governments and tourism organizations and companies to work together to protect these important regions.
Julia Simpson, President & CEO WTTC, said: “Coastal and marine tourism is a lifeline for millions globally, generating US$1.5 trillion to the world’s economy. But it’s on the frontline of climate change,” said WTTC President & CEO Julia Simpson. “Protecting our coast and marine life isn’t just an environmental necessity; it’s a social imperative. Our report quantifies the scale of the challenge. Reducing the environmental impact of coastal and marine tourism could cost US$ 65 billion every year.”
“Given the economic and social value of coastal tourism we are calling on governments, development organizations and Travel & Tourism businesses to act now to safeguard these vital natural resources.”
The WTTC has been releasing different research throughout the COP29 global climate event. Earlier this week, it published a different report on how the global travel industry has been adopting emissions reductions targets and net zero goals.
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