Tuesday, March 18, 2025 It has been announced that the Pacific Tourism Organisation (SPTO) and the Pacific Catastrophe Risk Insurance Company (PCRIC) have entered into a formal partnership to enhance disaster risk financing for the tourism industry in the Pacific region . Industry experts have recognized this collaboration as a significant step toward mitigating the financial risks posed by climate change and natural disasters , which continue to challenge many island nations. At the signing event on March 18, 2025 , it was emphasized that tourism remains the economic backbone of many Pacific nations , sustaining livelihoods, creating jobs, and supporting local communities.
However, increasing extreme weather events, from tropical cyclones to rising sea levels , have raised urgent concerns about the long-term sustainability of tourism in the region . SPTO CEO Christopher Cocker has been reported stating that resilience is no longer a choice but a necessity. He has highlighted the growing vulnerability of the Pacific’s tourism-dependent economies, stressing that without adequate disaster risk financing, the industry could suffer irreversible setbacks.
He has also pointed out that this partnership would provide essential institutional support for SPTO member countries , helping them develop comprehensive financial strategies to safeguard their tourism sectors from climate-related disruptions. The Role of Disaster Risk Financing in Tourism Sustainability Industry experts have .
