$65 Billion Needs Annually to Protect Coastal Tourism from Climate Change, Says WTTC
COASTAL TOURISM NEEDS $65 BILLION ANNUALLY TO COMBAT CLIMATE CHANGE RISKS. ACTION TODAY WILL PRESERVE JOBS, ECONOMIES, AND NATURE FOR TOMORROW.
The World Travel & Tourism Council (WTTC) has issued an urgent call for $65 billion in annual investments to safeguard coastal and marine tourism from escalating risks of climate change. Speaking at Ocean Action Day during COP29 in Baku, WTTC emphasized the importance of immediate action to protect these vital sectors.
Coastal Tourism Faces Rising Climate Change Threats
Coastal and marine tourism generated $1.5 trillion in 2023 and supported 52 million jobs globally. It accounted for half of all tourist spending, contributing $820 billion in direct tax revenue. However, this essential industry faces severe risks from rising sea levels, extreme weather, and coastal erosion caused by climate change.
The WTTC report, Climate and Ocean: Quantifying Coastal and Marine Tourism and Protecting Destinations, reveals that coastal tourism contributed 0.8% of global greenhouse gas emissions in 2023, equivalent to 390 million tonnes of CO₂. This underscores the need for immediate investment in both emission reductions and climate adaptation.
Small Island Developing States (SIDS) and Pacific coastal areas are particularly vulnerable, experiencing economic losses and climate-related displacement. For these regions, investment in resilience is not optional—it’s an urgent necessity.
Investments Key to a Sustainable Future
To reduce direct emissions from coastal tourism, $30 billion annually is required. Including climate change adaptation efforts, this figure rises to $65 billion. These investments align with the Coastal Tourism Breakthrough initiative, part of the Ocean Breakthroughs program under the Marrakech Partnership for Global Climate Action.
The Ocean Breakthroughs outline strategies across five sectors: marine conservation, shipping, ocean renewable energy, aquatic food, and coastal tourism. Accelerating action in these areas could reduce global emissions by up to 35% by 2050 while fostering a resilient, nature-positive future.
Julia Simpson, WTTC President & CEO, highlighted the economic and social importance of coastal tourism, stating, protecting coastal and marine life isn’t just environmental—it’s a social imperative. Governments, businesses, and development organizations must act now to safeguard these vital resources from climate change.
Industry Leaders Call for Bold Action
Gloria Fluxa, Vice-Chairman of Iberostar Group, stressed the urgency of decarbonizing tourism operations and investing in nature-based solutions. “Decarbonization and adaptation are essential to building a resilient, nature-positive tourism model,” she said, supporting bold investments in coastal resilience through the Marrakech Partnership.
Similarly, Loreley Picourt, Executive Director of the Ocean and Climate Platform, emphasized that the Ocean Breakthroughs provide a roadmap to a sustainable future. “Accelerated action and investment in these areas could cut global emissions by up to 35%,” she explained, calling for unified efforts to achieve the Paris Agreement’s goals.
Success Stories Highlight Positive Impact
The report showcases successful climate change solutions, such as Visit Scotland’s investment in renewable energy and Thailand’s Mangrove Action Project in Nai Nang, which restores mangroves to protect coastlines. These examples demonstrate how targeted investments can reduce emissions and enhance resilience.
WTTC urges governments, businesses, and communities to collaborate on protecting coastal and marine tourism. With proper investment, these regions can sustain their economic contributions while preserving their natural beauty for future generations. Achieving a sustainable, net-zero future by 2050 hinges on united efforts and bold action.
