$65 Billion Required Yearly to Protect Coastal Tourism from Climate Crisis

A report by the World Travel & Tourism Council (WTTC) has stated that annual investments of $65 billion are needed to mitigate the effects of climate change on coastal and marine tourism. Of this figure, $30 billion would go towards direct emissions reduction, with the rest funding climate adaptation measures.

The report, developed in partnership with the Iberostar Group and Oxford Economics, will soon be published under the title “Climate and Ocean: Quantifying Coastal and Marine Tourism and Protecting Destinations.” It demonstrates the need for both climate action and resilience-building.

Coastal and marine tourism contributed 0.8% of global greenhouse gas (GHG) emissions in 2023, equivalent to 390 million tonnes of CO2. Despite the sector generating $1.5 trillion and supporting 52 million jobs worldwide in the same year, the environmental impact requires immediate mitigation and adaptation measures.

Climate change, including rising sea levels, extreme weather, and coastal erosion, threatens coastal destinations, particularly Small Island Developing States (SIDS) and Pacific coastal areas. These regions are experiencing severe strain due to increasing climate-related displacement and economic losses.

The report was prepared to support the Coastal Tourism Breakthrough initiative led by the Marrakech Partnership for Global Climate Action and the UN High Level Climate Champions. The initiative aims to reduce GHG emissions by up to 35% and contribute to a resilient, nature-positive, and net-zero future by 2050.

Julia Simpson, President & CEO of WTTC, emphasized coastal tourism’s economic and social value and called on governments, development organizations, and businesses to safeguard these vital natural resources. Gloria Fluxa, Vice-Chairman and Chief Sustainability Officer for Iberostar Group, and Loreley Picourt, Executive Director of the Ocean and Climate Platform, echoed the call for decisive action and investments in coastal resilience.

The report also highlighted examples of positive-impact climate solutions, such as Visit Scotland’s significant investment in renewable energy and low-carbon infrastructure and the Mangrove Action Project in Nai Nang, Thailand. The WTTC urges governments, businesses, and communities to unite to protect coastal and marine tourism destinations through dedicated investment in mitigation and adaptation.