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Perfect Storm: Climate Change and Tourism

Author

Listed:
  • Mr. Serhan Cevik
  • Mr. Manuk Ghazanchyan

Abstract

While the world’s attention is on dealing with the COVID-19 pandemic, climate change remains a greater existential threat to vulnerable countries that are highly dependent on a weather-sensitive sector like tourism. Using a novel multidimensional index, this study investigates the long-term impact of climate change vulnerability on international tourism in a panel of 15 Caribbean countries over the period 1995–2017. Empirical results show that climate vulnerability already has a statistically and economically significant negative effect on international tourism revenues across the region. As extreme weather events are becoming more frequent and severe over time, our findings indicate that the Caribbean countries need to pursue comprehensive adaptation policies to reduce vulnerabilities to climate change.

Suggested Citation

  • Mr. Serhan Cevik & Mr. Manuk Ghazanchyan, 2020. "Perfect Storm: Climate Change and Tourism," IMF Working Papers 2020/243, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2020/243
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    Cited by:

    1. Dzintra Atstāja & Edmira Cakrani, 2024. "Impact of Climate Change on International Tourism Evidence from Baltic Sea Countries," Sustainability, MDPI, vol. 16(12), pages 1-16, June.
    2. ÇAPAR, Haşim & ARSLANOĞLU, Ali, 2025. "The Impact of Sustainable Development Goals as a Driving Force in the Development of Medical Tourism," Evaluation and Program Planning, Elsevier, vol. 111(C).
    3. J. M. Barrutiabengoa & G. Carta & N. González & D. Pérez & P. Más & G. Yücel, 2025. "Climate change scenarios and the evolution of Spanish tourism," Climatic Change, Springer, vol. 178(7), pages 1-35, July.

    More about this item

    Keywords

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    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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