Get an Edge on your Competition with Responsible Tourism
We all know success comes from finding win-win solutions, and it’s definitely true for responsible tourism. It not only helps the environment and the local communities, it also boosts the economy financially.
About 73% of younger generations – Millennials and Generation Z – are more likely to pay more for sustainability, compared to 51% of Baby Boomers.
-CREST Report
Tourism is great for the economy, especially in a developing country. However, tourism as we know it erodes the main selling point of any destination: its identity.
Fortunately, the growth of green tourism continues to outrun the growth of the tourism industry as a whole. Therefore, only a strong commitment to sustainability will lead to economic success.
What are the economic advantages of responsible tourism?
- Using less water and saving energy cuts down your bills. Green accommodation saves up to 20% of its costs. It’s possible through recycling properly; avoid heating too much (or overusing air conditioning) and keeping lights on only when required.
The percentage of consumers who are willing to pay more for sustainable brands that showed commitment to social and environmental values went up from 55% to 66%.
-CREST Report
- The demand for socially responsible products, accommodations and businesses has been booming, since modern-day travellers prefer green companies. They’re willing to spend more for products that are environmentally friendly.
- Another plus is that responsible tourists travel also in off-seasons, which results in a smaller environmental footprints and steadier profits for the destination.
- Millennials travel more than your average customers and have a stronger influence through social networks. It results in better reputations for sustainable tourism operators.
- Responsible tourism helps connections between local businesses. It supports regional micro-enterprises (like seasonal stands), creates quality jobs and strong relationships within the national economy.
When tourism employs local people, it creates more spending and a livelier local economy.
The economic benefits from the eco-concerns of millennials will grow as they age. That means the market of responsible tourism has room to expand in the future.
The sustainable development of tourism isn’t just politically correct; it’s actually a competitive advantage.
