The impact of climate change on the operations of organizations and companies is one of the main risks to be considered. The hotel industry, however, is particularly vulnerable to the effects of global warming. Recently, the University of Notre Dame, in EE. UU., Published a study in which it concludes that Mexico is one of the countries most vulnerable to climate change.
Since 2015, the coasts of the Mexican Caribbean began to suffer some of the consequences of climate change. An atypical amount of brown marine macroalgae from the Bahamas began arriving at Mexican beaches, preventing tourists from entering the sea. The presence of these algae, known as sargassum, has increased by 40%, with 2018 being the year of greatest accumulation and negative effects for tourism.
The consequences it has had on the hotel industry go beyond the effects on the landscape or the bad smell caused by the accumulation of sargassum, but there have been millionaire losses for the sector. During 2018 these economic effects amounted to:
- 80 million pesos, for the state government of Quintana Roo and for the federal government.
- It is estimated that hotels in Quintana Roo spend one million pesos a month to remove sargassum from beaches, practically manually.
- During the season of December 2018, only 55% of the expected reservations were reached .
- Losses in the aquatic activities industry, since it is impossible to perform activities such as wave runners or flyboards for the amount of sargassum found in the area and for the damage it causes to the teams.
Climate change is a current risk that companies must consider because it represents challenges in their business model, which translates into obstacles to meet their business and investment goals. Thus, the decision makers of companies, particularly those in the hotel sector, must adapt to the new reality caused by global warming.
It is important that the hotel sector can have action plans, as it can be the implementation of a containment project involving fences at sea to divert the sargassum and prevent it from reaching the beaches. This project would mitigate the impact that sargasso can have on the hotel industry. Inclusively, sargasso could be used in the production of cosmetics, as a feed for livestock, in the production of fertilizers, in biofuel, or in construction material.
However, it is essential that actions to mitigate crises caused by climate change involve individuals, local organizations, the three levels of government and the business sector, who must consider that climate change is a multiplier of risks.
Riesgos Políticos, SC, can support that your company is better prepared for crises caused by environmental risks by accompanying the resolution of issues such as can you reduce this risk? How can you limit the damage? Are they adequate? Are research mechanisms being developed to mitigate the damage? Contact us at firstname.lastname@example.org .