The Pacific Tourism Organisation (SPTO) has taken a significant step to enhance disaster preparedness and economic stability in the region by signing a Memorandum of Understanding (MoU) with the Pacific Catastrophe Risk Insurance Company (PCRIC). At the signing ceremony in Suva, CEO Christopher Cocker emphasized the crucial role that tourism plays in the economies of Pacific Island nations and highlighted the increasing threats posed by climate change and severe weather events to this vital sector.
Cocker articulated that “building resilience is no longer a choice, it’s a necessity,” underlining the urgent need for initiatives that protect communities reliant on tourism. The collaboration with PCRIC aims to improve disaster risk financing for SPTO members and explore the development of a regional disaster and climate resilience insurance scheme tailored for tourism operators. This initiative is not only a proactive response to climatic challenges but also essential for ensuring the long-term sustainability of tourism in the Pacific.
PCRIC’s CEO, Aholotu Palu, expressed optimism regarding the partnership, noting that PCRIC is well positioned to assist in enhancing disaster risk management capabilities through regional workshops, training, and guidelines that will support National Tourism Offices in creating effective disaster insurance frameworks. He stated, “We are a disaster risk innovator, and we are proud to offer our expertise to one of the most economically significant sectors across our region.”
The recent insurance payout by PCRIC to Vatuvara Foundation, helping with restoration efforts after Tropical Cyclone Rae, showcases the immediate impact of such safety nets in preserving the environment—including essential coral reefs—while supporting tourism recovery efforts.
Overall, this partnership marks a hopeful stride towards fostering a resilient tourism sector in the Pacific amid escalating climate threats. By addressing disaster risks head-on, the SPTO and PCRIC aim to secure not just economic stability but also the livelihoods and environments of countless Pacific Islanders. This proactive approach serves as a model for other regions facing similar challenges, embodying the spirit of collaboration and innovation in the face of adversity.
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