WTTC: $65 Billion Needed Annually to Protect Coastal Tourism from Climate Change
The World Travel & Tourism Council (WTTC) has called for urgent annual investments of US$65 billion to shield coastal and marine tourism from the growing impacts of climate change. Speaking at COP29 in Baku, Azerbaijan, WTTC President & CEO Julia Simpson emphasized that this investment is critical for reducing emissions and adapting to escalating threats such as rising sea levels and extreme weather.
A new report, Climate and Ocean: Quantifying Coastal and Marine Tourism and Protecting Destinations, developed with Iberostar Group and Oxford Economics, highlights that coastal and marine tourism generated US$1.5 trillion in 2023 and supported 52 million jobs globally. However, it also contributed 390 million tonnes of CO₂, accounting for 0.8% of global greenhouse gas emissions, underlining the urgency for mitigation and adaptation measures.
Small Island Developing States (SIDS) and other vulnerable regions face mounting challenges, including economic losses and climate-related displacement. The report aligns with the Coastal Tourism Breakthrough under the Marrakech Partnership for Global Climate Action, which aims to cut emissions by up to 35% across five key ocean sectors by 2050, including coastal tourism.
WTTC and Iberostar Group leaders urged immediate action, stressing the need for investments in nature-based solutions and decarbonization. Examples such as Scotland’s renewable energy initiatives and Thailand’s Mangrove Action Project demonstrate how targeted efforts can protect coastlines and enhance resilience.
The report also supports the Ocean and Climate Platform’s call for bold investments to safeguard natural resources and secure a sustainable future for destinations. Gloria Fluxa of Iberostar underscored that “decarbonization and adaptation are essential to building a nature-positive tourism model.”
WTTC calls on governments, businesses, and communities to collaborate on protecting these vital ecosystems. Sustained investment can ensure coastal tourism continues to thrive economically while preserving its natural beauty for generations to come.
