Hawaii re-opened to tourists last year, and by mid-March the number of arriving domestic passengers exceeded 2020’s anemic levels by 400%.
A surge in visitors is undoubtedly good for the state’s hard-hit tourism economy. But is it good for Hawaiians? trib.al/7L5ymTd
A year after Hawaii's borders were first shut due to Covid, many locals have embraced a new normal:
🏖️Uncrowded beaches
🚦Free-moving traffic
🌊Cleaner air and water
In a recent poll, nearly half of Hawaiians said tourists are no longer worth the trouble trib.al/7L5ymTd
Around the globe, people living in tourist-dependent economies have spent Covid appreciating life free from the visiting hordes.
That is renewing a global debate about who exactly should benefit from tourism trib.al/7L5ymTd
The travel industry has impacted climate change:
➡️Tourism accounted for fully 8% of global greenhouse emissions between 2009 and 2013
➡️Overcrowding of tourists contributes to environmental degradation and a steady exodus of locals trib.al/7L5ymTd
Hanauma Bay in Hawaii was once a remote site enjoyed by locals.
By the time Covid hit, it was receiving 1 million tourists a year.
Those visitors trampled corals and left behind 412 pounds of sunscreen per day in the waters trib.al/7L5ymTd
Diagnosing overtourism is easier than finding a cure.
Its contraction has been tough in smaller, emerging-market countries.
Some ecologically fragile regions saw devastating increases in wildlife poaching as tourists stayed home during the pandemic trib.al/7L5ymTd
Recent surges of tourists in places such as Miami Beach have only added to worries that the end of Covid could mean a resumption of the old normal for communities beat down by too many visitors trib.al/7L5ymTd
A first step to fixing overtourism should be reforming how to measure a “successful” tourist business.
Visitor numbers and GDP have been the gold standard.
But groups like the @UNWTO could establish new metrics that take sustainability into account trib.al/7L5ymTd
✈️ Airlines and hotel chains could commit to sustainable tourism by:
➡️Reducing carbon emissions
➡️Improving waste management
➡️Investing in local communities trib.al/7L5ymTd
Businesses should recognize that harmful overtourism isn’t in their long-term interests.
Social-media sites should think of ways to educate their users about overtourism and discourage excessive crowds trib.al/7L5ymTd
Nobody wants a lecture about a post-Covid vacation.
But the message doesn’t need to be alienating: Traveling right just means thinking more like a local trib.al/7L5ymTd
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$700 billion is about nine times current US customs revenue, and 2.4% of the most recent estimate of US GDP.
Tariff revenue hasn’t surpassed 2% of GDP since the early 1870s, and hasn’t surpassed it on a sustained basis since the 1820s and 1830s
Trump often cites President McKinley’s high tariffs as an inspiration, but during McKinley’s presidency (1897 to 1901) tariffs generated less than half the share of GDP that $700 billion would amount to now
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8