Why are sustainable investments and the circular economy boosting tourism?

Implementing these strategies in tourism offers a chance to transform the industry into a more efficient, responsible, and resilient model.

Traditional tourism has left a significant environmental footprint. Increased carbon emissions from commercial flights, plastic waste in tourist areas, and degradation of ecosystems due to deforestation are just a few examples of today's impact.

Sustainable investments and the circular economy are crucial for tourism in this context. They not only help protect the environment but also generate new economic opportunities and enhance the tourist experience in various ways.

THE CIRCULAR ECONOMY: RECOVER AND REGENERATE

The circular economy is an economic model focused on designing and promoting inherently regenerative systems. Unlike the traditional linear model, it aims to extend the lifecycle of resources by maximizing their value while in use and then recovering and regenerating resources at the end of their useful life.

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SUSTAINABLE INVESTMENTS

As the name implies, sustainable investments are strategies aimed at generating financial returns while also considering environmental, social, and corporate governance (ESG) criteria, considering their long-term impact on sustainability.

This approach is based on the belief that companies adopting responsible and sustainable practices are more likely to be efficient and successful in the long term. If we fail to protect the environment, these companies may not remain viable over time.

Here are the main reasons why these strategies enhance a country's tourism:

1. Improved image: Destinations that embrace sustainable practices and the circular economy are seen as more responsible and environmentally conscious. This boosts their image and attracts more tourists who value sustainability. Additionally, new digital platforms and travel apps often highlight these destinations, further enhancing their visibility.

2. Conservation of natural resources: The preservation and responsible, sustainable use of biodiversity and cultural resources are essential for maintaining the beauty and authenticity of tourism destinations.

3. Creation of new tourism experiences: Sustainable practices foster the development of ecotourism activities, such as trekking, wildlife observation, and visits to natural parks.

Similarly, the circular economy promotes innovative and environmentally friendly tourism experiences, including adventure tourism like cycling, sustainable agricultural product tours, and visits to organic farms.

4. Employment generation and local development: Sustainable investments create local jobs in sectors like waste management, agriculture, and ecotourism. This boosts the local economy and enhances the quality of life for communities, making them more appealing to visitors.

5. Reduced costs: The circular economy promotes the efficient use of resources, helping tourism companies reduce operating costs. This approach leads to savings in various areas, including energy, water, material procurement, and waste disposal.

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POSITIVE FUTURE

The circular economy is making significant progress in Peru. By August 2023, the National Circular Economy Coalition (CNEC) was established, bringing together the government and the private sector to transition to a circular economy model. This initiative aims to promote responsible production and consumption of natural resources across the country.

In this context, transitioning to a circular economy brings numerous benefits, with increased productivity being a notable example. A study by the Organization for Economic Co-operation and Development (OECD) predicts that, by 2030, Peru's gross domestic product (GDP) could rise by 2.41 % and employment by 2.27 % if the 2020 Roadmap, which promotes this strategy in the industrial sector, is fully implemented.

Sustainable investments and the circular economy foster a supportive environment for tourism by protecting the environment, enhancing the quality of life for local communities, and providing authentic, responsible experiences. By adopting these practices, tourism destinations not only ensure their long-term viability but also attract a new generation of tourists who are environmentally conscious and committed to preserving the planet.

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