The Pacific Tourism Organisation (SPTO) has formed an important alliance with the Pacific Catastrophe Risk Insurance Company (PCRIC) by signing a Memorandum of Understanding (MoU) aimed at improving disaster risk financing for the tourism sector in the Pacific Islands. With tourism being a vital contributor to economic growth and employment in the area, it increasingly faces dangers from extreme weather events and natural disasters exacerbated by climate change.
During the MoU signing ceremony, SPTO’s CEO, Christopher Cocker, stressed the critical role of tourism in the economies of Pacific nations and asserted that “building resilience is no longer a choice – it’s a necessity,” due to the climate challenges impacting the region. He underscored the significant risks that climate change poses to communities and livelihoods that depend on tourism.
The partnership between SPTO and PCRIC will focus on enhancing the institutional capacity of SPTO members in terms of disaster risk financing. A major initiative includes the potential creation of a regional disaster and climate resilience insurance scheme specifically designed for tourism operators. This initiative is part of broader efforts aimed at ensuring the long-term sustainability of the Pacific tourism sector.
Aholotu Palu, CEO of PCRIC, expressed positivity regarding the partnership’s potential to bolster disaster risk management capabilities in the region. He mentioned that the collaboration will include workshops, training sessions, and guidelines to support National Tourism Offices in developing disaster insurance programs, thereby establishing essential safety nets against climate-related threats.
This collaboration is particularly timely, as numerous Pacific Island nations, including Tonga, are actively working to enhance their disaster risk management strategies. There is a growing acknowledgment of the necessity for comprehensive climate and disaster risk financing strategies, especially as the occurrence and intensity of climate-induced disasters continue to rise.
Ultimately, the partnership between SPTO and PCRIC marks a significant step towards protecting the Pacific tourism sector from climate risks, fostering a promising outlook for increased resilience and sustainability in the industry.
Leave a comment