Climate Change is a buzz word today. From the Presidents and Prime Ministers of various nations to CEOs of top corporations, they all have the worry about climate change.
Now, climate change has a range of impacts across all industries. But, for the purpose of this study, Spearhead Consulting has analyzed the impact on a specific industry, which is Tourism Industry.
Before understanding the impact of climate change on the tourism industry, let us first understand the current status of the tourism industry. As tourism and travel go hand in hand with each other, the World Travel and Tourism Council reported that the Travel and Tourism Industry accounts for 10.4% of Global GDP (which by any parameter is huge). Now, let us see how much pie it accommodates
Let us also see the Indian version of it
As the industry size is huge and climate change can impact the industry drastically as well, let us understand the specifics of which type of tourism will be impacted by what type of climate change
[Note: For the purpose of understanding the impact of climate change on various types of tourism, we have divided Tourism Industry into 5 parts
- Beach and Coastal Tourism
- Snow and Mountain Tourism
- Ocean and Sea Life Tourism
- Forest and Lake Tourism
- Cities and Urban Tourism
This shows the big picture. Let us now understand the depth of climate change impact on each type of tourism.
Sea Level Rise of 1 meter can potentially damage 21 airports and 35 ports which can affect 60% of tourists globally. The estimated cost to rebuild will be anywhere between 10 Billion USD and 23 Billion USD
Snow Melting can affect the entire skiing industry which is played by 400 million people annually. The companies working in this domain have already started changing their promotion strategy by expanding their horizon to an all year industry rather than skiing industry
The rise in high fired and severe drought can potentially damage 40% of species. There has been a massive increase in the number of fire days in the Americas, Southern Europe, and Australia.
The rise in high fired and severe drought can potentially damage 40% of species. There has been a massive increase in the number of fire days in the Americas, Southern Europe, and Australia
Water acidification and Water shortage in the cities has already affected 150 Million People. It is estimated that every second city in Asia with a population of over 1 million will be affected in the coming decade