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The business of climate change; opportunity or threat to Caribbean industry

The business of climate change; opportunity or threat to Caribbean industry. Mr. Jason Alexander. This business of Climate Change : threats to & opportunities for the Caribbean Tourism Industry. Dr. Marlene Attzs and Mr. Jason Alexander Department of Economics, University of the West Indies,

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The business of climate change; opportunity or threat to Caribbean industry

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  1. The business of climate change; opportunity or threat to Caribbean industry Implications of Climate Change to Tourism Business in the Caribbean Mr. Jason Alexander

  2. This business of Climate Change: threats to & opportunities for the Caribbean Tourism Industry Dr. Marlene Attzs and Mr. Jason Alexander Department of Economics, University of the West Indies, St. Augustine, Trinidad and Tobago mattzs@fss.uwi.tt ; jalexander@fss.uwi.tt

  3. CONTENT • Economic Significance of Regional Tourism Industry • Climate change and SIDS • Challenges to the sustainable development of tourism • Climate change and Tourism • International Tourism Response • Regional Tourism Response • Policy conclusions for Caribbean Tourism Sector Implications of Climate Change to Tourism Business in the Caribbean

  4. Economic Significance of Regional Tourism Industry Implications of Climate Change to Tourism Business in the Caribbean

  5. Profile of Tourists – CTO Reports Implications of Climate Change to Tourism Business in the Caribbean

  6. Origin of Tourists to CARICOM Implications of Climate Change to Tourism Business in the Caribbean

  7. Sustaining the Caribbean Tourism Industry Sustainable Tourism Development: ‘Minimizes the negative impacts of tourism development on the natural environment and vice versa with a view to satisfying the goals of intragenerational equity and intergenerational equity.’ culled from Munasinghe 1993. Implications of Climate Change to Tourism Business in the Caribbean

  8. Sustaining the Caribbean Tourism Industry Two challenges to sustainable development of the regional tourism industry: • Maintaining tourism industry within the region’s ecological and socio-cultural carrying capacity; • Anticipate and adapt to climate change impacts. (reduced emissions and energy consumption within the tourism industry) Implications of Climate Change to Tourism Business in the Caribbean

  9. Potential Physical Impacts of Climate Change on Caribbean Tourism • Warmer temperatures in Europe – Caribbean less attractive as a destination for European tourists. • Increase in intensity and frequency of windstorm-related events. • Coral bleaching – impact on the marine flora and fauna that constitute a significant part of the Caribbean tourism product. Implications of Climate Change to Tourism Business in the Caribbean

  10. Potential Physical Impacts of Climate Change on Caribbean Tourism • Coastal Erosion • Water supply Implications of Climate Change to Tourism Business in the Caribbean

  11. Potential Economic Impacts of CC on Caribbean Tourism Industry Implications of Climate Change to Tourism Business in the Caribbean

  12. Potential Economic Impacts of CC on the Caribbean Tourism Industry Implications of Climate Change to Tourism Business in the Caribbean

  13. Insurance Market • Rising Premiums. • Reinsurance Companies cannot absorb rising cost. • Not building near beaches. Implications of Climate Change to Tourism Business in the Caribbean

  14. International Tourism Response : reducing their carbon footprint • Hotels • Hilton (Energy Efficient Lighting Retrofit Program) • InterContinental Thalasso Spa (natural Lighting and an eco-friendly air conditioning system) • Airline • Silver Jet (Mandatory Carbon Neutral Purchasing) • Virgin Atlantic (Partner with Boeing to reduce emissions) Implications of Climate Change to Tourism Business in the Caribbean

  15. Caribbean Tourism Response: impacts of climate change • Hotels • Greening (Caribbean leads the world in Green Globe 21 certified properties – 57. • Hotel Mocking Bird Hill (Port Antonio, Jamaica) • Airline • Caribbean Airlines (Invested in wing tips, Carbon Neutral Company, target to reduce CO2 emissions by 4000-5000 tons) Implications of Climate Change to Tourism Business in the Caribbean

  16. Conclusions • Actors within Caribbean Tourism Industry cannot afford to ignore the physical and economic impacts of CC highlighted at onset. (opportunity cost is too high) • We cannot overemphasize the benefits of mitigation, especially with Natural Disasters. Implications of Climate Change to Tourism Business in the Caribbean

  17. Conclusions • Actors need to view their adaptation and mitigation to Climate Change for what it is: 1. Energy Saving and 2. Cost Reducing (Hotel Mocking Bird Hill) Implications of Climate Change to Tourism Business in the Caribbean

  18. Conclusions • Demand for Green Tourism by from a more educated Tourist. • Climate Change presents an opportunity for the Caribbean Tourism Industry to position itself as the GREENEST TOURIST DESTINATION IN THE WORLD. Implications of Climate Change to Tourism Business in the Caribbean

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