Investing in solutions to make tourism more responsible
The tourism industry faces several significant sustainability challenges. This sector accounts for 8% of global greenhouse gas emissions, which includes the construction of tourism infrastructure, energy consumption at destinations, global traveler transportation, and food production and waste. In addition, inadequate waste management and excessive use of natural resources such as water and energy exacerbate these problems, contributing to climate change and environmental degradation.
Another challenge is the pressure on local resources. The massive arrival of tourists can put unsustainable pressure on water, energy and food supplies in local communities, which can generate conflicts and degrade ecosystems. The construction of tourism infrastructure, such as hotels, resorts and roads, also contributes to the destruction of natural habitats and the loss of biodiversity. Protected natural areas are particularly vulnerable to tourist encroachment, which can have devastating consequences for local fauna and flora.
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Re-imagine is a management model created by Marugal Hotel Management and Deleite Wear, focused on driving the circular economy. This project minimizes environmental impacts and actively supports the regeneration of the local ecosystem, creating an example of sustainability leadership in the hotel sector.
In addition, tourist saturation in popular destinations can lead to the deterioration of historical, cultural and natural sites, negatively affecting the environment, the visitor experience and the local economy in the long term. This can result in temporary and low-quality jobs, without significant improvements in the quality of life of the local population.
Tackling these challenges may seem daunting, but it holds promise if a three-pronged approach is taken: implement effective science-based measures, constantly innovate by seeking new solutions, and be inspirational in mobilizing the industry. Innovation is essential, with many solutions emerging in small startups that are developing novel responses to these problems. For these solutions to succeed, both public and private investment is crucial.
Many investment funds specialize in different subject areas, developing specific theses that are not only attractive for raising capital, but also effective in solving the problems they address. While investment funds seek returns, they also recognize that solutions to the major challenges we face as a society will create multi-billion dollar markets, as they are vital to our future.
There are funds specialized in climate tech, education and various other areas. There are also funds focused on tourism and related aspects, such as the blue economy, which seeks to improve the economy of our oceans. These investments not only promote sustainability and innovation in tourism, but also support balanced and responsible economic development.
The blue economy refers to the sustainable use of marine and coastal resources to drive economic growth, improve livelihoods and generate jobs, while preserving the health of ocean ecosystems. This approach includes a wide range of activities, such as sustainable fisheries and aquaculture, coastal and marine tourism, marine renewable energy, biotechnology, and water desalination (LSE) (World Bank).
Global data on blue economy
In the context of tourism, the blue economy plays a crucial role. Coastal and maritime tourism is one of the main activities within this sector, generating significant income and employment in many regions of the world. According to the European Union, coastal tourism accounts for more than 40% of the gross product of its blue economy, highlighting its economic importance (EU Blue Economy Observatory). In addition, sustainable coastal tourism can contribute to the conservation of marine ecosystems by promoting practices that minimize environmental impact and encourage the preservation of biodiversity.
The implementation of sustainable practices in coastal and maritime tourism includes the development of green infrastructure, the promotion of environmentally friendly tourism activities, and the education of tourists and local communities about the importance of marine conservation. These practices not only help protect natural resources, but can also enhance the tourism experience, attracting visitors interested in sustainability and authentic, environmentally friendly experiences.
The blue economy also fosters innovation in the tourism sector. In fact, much of the funding includes an intrinsic link between tourism and the blue economy. The use of advanced technologies and data to improve the management of marine and coastal resources can increase the efficiency and sustainability of tourism operations. For example, monitoring marine ecosystems through information technologies can help to better manage tourism areas and protect sensitive habitats (NOAA).
Size of the blue economy in the EU in billions of euros
Employment in thousands of people and remuneration in thousands of euros
The blue economy is fundamental to the development of sustainable tourism that not only drives economic growth and creates jobs, but also protects and preserves marine and coastal resources for future generations. Adopting a blue economy approach to tourism can transform the way we interact with our oceans, promoting a balance between economic development and environmental conservation.
In Europe, there are now significant funds investing in innovation to enhance the blue economy. Funds such as Katapult Ocean and Swen Blue Ocean are at the forefront of this movement, supporting pioneering companies in sustainability and advanced technology.
Katapult Ocean, for example, invests in innovative companies such as Better Packaging Co and Carbonwave, which are revolutionizing their respective industries with sustainable and technological solutions. Better Packaging Co specializes in creating sustainable packaging solutions. Its focus is on reducing the environmental impact of traditional packaging by using recyclable and compostable materials, designing products that help minimize waste and promote the circular economy.
Carbonwave, on the other hand, is dedicated to marine biotechnology and focuses on using seaweed to develop sustainable products. The company creates innovative materials from algae that can be used in a variety of industries, from agriculture to fashion, reducing dependence on plastic materials and other non-renewable resources. This technology not only helps mitigate climate change by capturing carbon, but also supports the regeneration of marine ecosystems.
Swen Blue Ocean funds companies such as NatureMetrics, which specializes in the use of advanced technologies for environmental monitoring and biodiversity assessment. NatureMetrics uses DNA-based methods, such as eDNA (environmental DNA), to detect and analyze the presence of various species in different habitats, providing accurate and detailed biodiversity data without the need for traditional sampling methods, which are often more invasive and labor-intensive.
NatureMetrics
There is no beach here
Although Madrid has no direct access to the sea, its relationship with the coastal areas of Spain is deep and significant. Spain is a country surrounded by sea, with a vast coastline that influences various economic, cultural and environmental aspects of the nation. This interconnectedness offers Madrid the opportunity to benefit from sustainable solutions promoted by blue economy funds, thus enhancing its urban tourism.
Blue economy funds, such as Katapult Ocean and Swen Blue Ocean, invest in technologies and practices that, while primarily developed for coastal areas, can also be adapted to urban contexts such as Madrid. For example, innovations in sustainable water management, such as wastewater reuse and rainwater harvesting, can be implemented in the city to reduce potable water consumption and increase water efficiency. These methods, inspired by the blue economy, can help Madrid address environmental challenges such as water scarcity.
In addition, renewable energy technologies developed for marine environments, such as solar and wind power, can be applied in Madrid to reduce dependence on non-renewable energy sources. The installation of solar panels on public and private buildings not only decreases the city's carbon footprint, but also promotes more sustainable tourism by attracting visitors interested in green practices.
Sustainable mobility is another area where blue economy solutions can make a difference in Madrid's urban tourism. Encouraging the use of efficient public transport and electric mobility can reduce carbon emissions and improve air quality, making the city a more attractive destination for environmentally conscious tourists.
Likewise, the circular economy, which is a pillar of the blue economy, can be promoted in Madrid to reduce waste and encourage recycling. Offering local products and services not only supports the regional economy, but also reduces the carbon footprint associated with transporting goods, making tourism in Madrid a more sustainable and authentic experience.
These investments not only foster the creation of innovative and complex solutions, but also open up new opportunities to transform tourism into an industry that is not only responsible, but also regenerative. By supporting companies that develop sustainable technologies and practices, these funds contribute to the preservation of marine ecosystems and the promotion of balanced and sustainable economic development.