Towards a green economy 5 Conclusions Tourism is a leading global industry, responsible for
a significant proportion of world production, trade, employment, and investments. In many developing nations, it is the most important source of foreign exchange and FDI. Tourism growth, environmental conservation, and social wellbeing can be mutually reinforcing. All forms of tourism can contribute towards a green economy
transition through investments
leading to energy and water efficiency, climate-change mitigation, waste reduction, biodiversity and cultural heritage conservation, and the strengthening of linkages with local communities. Making tourism businesses more sustainable will foster the industry’s growth, create more and better jobs, consolidate higher investment returns, benefit local development and contribute to poverty reduction, while raising awareness and support for the sustainable use of natural resources.
The potential economic, social and environmental costs of a BAU scenario in the tourism industry are not always considered when evaluating the cost of investments toward sustainability. Concern about required investments and financing sources availability are common when considering actions for making tourism more sustainable. Nevertheless, empirical evidence shows that demand for traditional mass tourism has reached a mature stage whereas the demand for more responsible forms of tourism is booming and are predicted to be the fastest growing tourism markets in the next two decades. Tourism- market tendencies indicate that main drivers towards investment in sustainable tourism relate to consumer demand changes, actions to reduce operations costs and increase competitiveness, coherent policy and regulations, technology improvements, stronger efforts for environmental and social responsibility and natural resource conservation. These are leading transformation of the industry and determining the returns on investments.
In a BAU scenario up to 2050, tourism growth will imply increases in energy consumption (111 per cent), greenhouse gas emissions (105 per cent), water consumption (150 per cent), and solid waste disposal (252 per cent). On the other hand, under an alternative greener investment scenario (in energy and water efficiency, emissions mitigation and solid waste management) of US$ 248 billion (i.e. 0.2 per cent of total GDP), the tourism sector can grow steadily in the coming decades (exceeding the BAU scenario by 7 per cent in terms of the sector GDP) while saving significant amounts of resources and enhancing its sustainability. The green investment
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scenario is expected to undercut the corresponding BAU scenario by 18 per cent for water consumption, 44 per cent for energy supply and demand, 52 per cent for CO2
emissions. This will result in potential avoided costs
that can be reinvested in socially and environmentally responsible local activities – such as local transportation and staff capabilities and skills – increasing the indirect and induced effects of tourism expenditure on local development. In particular, the spending by foreign visitors from wealthier regions in developing countries helps to create much-needed employment and opportunities for development, reducing economic disparities and poverty, notably through the multiplier effect and the reduction of leakage.
Tourism can have positive or negative impacts depending on how it is planned, developed and managed. Various enabling conditions are required for transforming tourism to contribute to social and economic development within the carrying capacities of ecosystems.
To promote sustainable tourism in a green economy, the national, regional, and local economy should first provide a good investment climate, featuring security and stability, regulation, taxation, finance, infrastructure, and labour. Various tourism stakeholders should collaborate and share knowledge and tools in order to understand the overall picture of environmental and socio-cultural impacts of tourism activities at destinations. There is also a need for policy coherence, which can include economic instruments and fiscal policy to reward sustainable investments and practices and discourage the most costly externalities associated with uncontrolled tourism expansion. In the case of tourism, government and private tourism authorities should coordinate with ministries responsible for the environ ment, energy, agriculture, transport, health, finance, security, and other relevant areas, as well as with local governments.
By steering the direc tion of policy and spearheading sustainability efforts, government authorities can motivate and influ ence other stakeholders – both public and private – to engage in behaviour that bolsters a destination’s sustainability. It is necessary that tourism promotion and marketing initiatives emphasise sustainability as a primary option. To create local development opportunities, marketing efforts should ensure access to domestic and international markets by sustainable local, small, medium, community-based and other tourism suppliers (especially in developing
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