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Rebuilding the Caribbean: a proposal for tourism with purpose

Tortola, British Virgin Islands on April 1. Wreckage of Hurricane Irma still remains scattered all around the island. Credit: Shutterstock

Here’s an idea to harness the spending power of potential tourists — some who might be repeat visitors to the region and many who may want to go for the first time —in a way that helps with the rebuilding.

What if 5 million potential visitors “donated” $500 each and this pool of $2.5 billion was invested by a professional fund management team and directed into climate-resilient rebuilding? This could include solar panels on hotels to generate renewable energy or adapting structures to better withstand hurricane force winds. It also could mean investing in supporting businesses such as sailing charters and marinas, along with the hundreds of local businesses supporting these operations and all the jobs that they would bring back.

In exchange, these retail “donors” would receive concessions at businesses in regions that benefited from the rebuild.

Read the full article here.

By Ambuj Sagar and Vikram Widge for GreenBiz.