One thing many of us have learnt from the COVID-19 pandemic is that our planet has the ability to regenerate extremely quickly. Take away planes, cars, trains and towering office blocks and nature wakes up. During the height of the epidemic, Delhi’s skies were blue, Venice’s canals clear and London’s subways empty. These positive aspects have the ability to continue post-pandemic, but only if we embrace sustainable tourism.
Bangkok hotel investment group, Destination Capital, are one corporation that recognise the importance of investors willing to play a part in eco and sustainable practices, which benefit not only the environment but communities within it. They recently announced plans to set wheels in motion for the world’s first ever ‘green’ hotel fund. The aim of the fund? To obtain an array of hotels in prime locations in Thailand, putting sustainability plans into place. This initiative is designed to encourage investments in financial and environmental sustainability – in nutshell; heighten the benefits and lessen the negative impacts tourism has on the planet. These plans will be achieved using the EDGE certification platform.
What is EDGE?
EDGE is an innovative online programme, created by the International Finance Corporation. This system assists environmentally conscious property developers to construct affordable and fast ‘green’ enterprises. To date, this technology is being implemented by over 170 countries, which are all doing their bit to reduce the amount of carbon dioxide (230,000 tonnes to be precise) entering the atmosphere each every year. The creators behind EDGE believe going green to not only be a good business decision but one that will offer long term investment and shorter payback periods when it comes to hotel operational costs.
A Competitive Advantage
The current Covid pandemic hasn’t been kind to the travel sector, meaning an array of hotels across the globe are struggling to stay afloat. By acquiring these establishments in their current state, developers such as DesCap can renovate them to a standard that adopts environmental technology. These venues will boast a competitive advantage to those not embracing environmental efforts, through creating eco establishments that are an asset to the tourism industry, mindful of the environment, improve hotel’s carbon emissions, reduce water and electricity consumption, lower waste emissions and reduce plastic usage. These hotels will not only appeal to hotel managers with environmental concerns but tourists wishing to play a part in protecting the planet. Consumers will most likely develop a specific loyalty towards hotels adopting green initiatives, choosing them over other establishments that don’t.
Tourism and Entertainment
As well as standard hotels, hotels housing casinos are another sector adopting green initiatives. Take into consideration how many millions of people (pre-Covid) walk through the doors of casinos each and every year, and how much waste, light, noise and plastic pollution these venues generate on a daily basis. Thankfully both casino owners and goers are aware of the environmental impact these venues have on our planet and are and are already doing their bit to lower their carbon emissions.
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Travel values our planet’s most precious aspects; picturesque landscapes, history, wildlife, people and culture. Tourism is a great tool in terms of improving the economy, providing enterprise opportunities, top-tier jobs and conservation funds. However, if it’s not managed well, it can and will have a damaging effect on our environments and communities, which could lead to long-term, irreversible issues, and ultimately, a lack of tourism in certain areas.