Tourism Minister, Edmund Bartlett’s called for the establishment of a Regional Tourism Resilience Fund.
He says it would be the region’s first funding facility designed specifically to assist highly-susceptible tourist destinations in the region.
Minister Bartlett made the call in South Korea yesterday at the second edition of the Green Climate Fund, GCF global conference on private investment for climate change.
The Minister was speaking on the panel “Raising the bar for private sector Climate Action— Latin America & the Caribbean” at the Green Climate Fund Private investment for climate conference.
Mr Bartlett says the special Fund would help build capacity in response to disruptive threats to the region’s economic sustainability, particularly those related to climate change impacts.
He says during the 2017 Atlantic Hurricane Season, 13 of the region’s most tourism-dependent economies lost more than 1 billion US dollars in tourism revenues due to Hurricanes Irma and Maria.
He also says the recent devastation of sections of the Northern Bahamian islands of Grand Bahama and Abaco highlight the urgency for the fund.
The GCF Private Investment for Climate Conference is a global marketplace and ecosystem where leading private sector stakeholders and public sector representatives partner to accelerate climate action in developing countries.
Prime Minister Andrew Holness was Keynote speaker at the event, which had representatives from over 200 countries.