During COP29, on Ocean Action Day, the World Travel & Tourism Council (WTTC) highlighted the need for an annual investment of $65 billion to protect coastal and marine tourism from climate impacts.

Coastal and marine tourism generated $1.5 trillion and 52 million direct jobs in 2023, accounting for 50% of global tourism spending. However, it faces increasing threats due to climate change, such as rising sea levels and extreme weather events.

The joint report by WTTC, Iberostar Group, and Oxford Economics emphasizes that $30 billion annually is needed to reduce emissions, with the remainder allocated for adaptation efforts.

Julia Simpson, CEO of WTTC, stated: "Coastal tourism is vital for the economy and communities, but it is on the front lines of climate change. It is imperative to act now to protect these resources."

Gloria Fluxa, Vice President and Director of Sustainability at Iberostar Group and Chair of the WTTC Sustainability Committee, said: "It is never too late to act. To safeguard our industry, its people, and the ecosystems we depend on, we must focus on mitigating our operations, transforming supply chains, and investing in nature-based solutions for climate adaptation. Decarbonization and adaptation are essential investments to build a resilient, nature-positive tourism model."

"We support the Ocean and Climate Platform's call for investments in coastal resilience. The Coastal Tourism Progress under the Marrakech Partnership provides a clear roadmap to reduce emissions by up to 35%. Now is the time for decisive action to ensure our destinations thrive for generations."

Loreley Picourt, Executive Director of the Ocean and Climate Platform, said: "These findings were developed in support of Coastal Tourism Progress, one of the five pillars of the Ocean Advances under the Marrakech Partnership for Global Climate Action, addressing climate, nature, and people."

The report also highlights successful initiatives such as mangrove restoration in Thailand and investments in renewable energy in Scotland. Governments, businesses, and communities are urged to come together to safeguard coastal destinations and ensure their sustainability for the future.