WTTC stresses on urgent climate investment in coastal , marine tourism
Travel Biz News —
The World Travel & Tourism Council (WTTC) called for urgent climate investment in coastal and marine tourism to protect it from escalating climate risks.
Addressing world leaders during Ocean Action Day at COP29 in Baku Azerbaijan on November 21 , WTTC said that coastal and marine tourism will require annual investments of $30 billion for direct emissions reduction, with total needs reaching as high as $65 billion when including climate adaptation efforts.
Developed in collaboration with Iberostar Group and Oxford Economics, the soon to be released report Climate and Ocean: Quantifying Coastal and Marine Tourism and Protecting Destinations underscores the dual need for climate action and resilience-building.
In 2023, coastal and marine tourism directly generated US$1.5 trillion and supported 52 million jobs globally. It also accounted for approximately 50% of all tourists’ spending globally, generating $820 billion in direct tax revenue , according to a release issued by WTTC.
The report highlights that coastal and marine tourism directly contributed 0.8% of global GHG emissions in 2023, equating to 390 million tonnes of CO₂.
Coastal destinations worldwide, especially those in vulnerable regions, face mounting threats from climate change, including rising sea levels, extreme weather, and coastal erosion.
Small Island Developing States (SIDS) and Pacific coastal areas in particular, are under severe strain, with rising climate-related displacement and economic losses posing urgent challenges.
November 25 , 2024
