CAF presented regenerative tourism proposal in Latin America and the Caribbean at FITUR 2023

The main international tourism fair in the Hispanic world, FITUR 2023, was the stage on which CAF presented its new work proposal to foster a model of living, regenerative tourism that helps mitigate the effects of climate change, preserve biodiversity, enhance natural and cultural heritage and revive economies.

The proposal is part of the institution’s commitment to invest a total of USD 25 billion in green financing over the next five years and to become the green bank of Latin America and the Caribbean.

To advance this agenda and ensure that the voice of the region has a global echo, CAF held meetings and events with senior representatives of the public and private sectors, multilateral organizations and entrepreneurs in the tourism sector. In addition, it was the official sponsor of the FITURNEXT Observatory, a FITUR platform devoted to promoting good practices in tourism, with an emphasis on sustainability.

The following are the highlights of CAF’s participation at FITUR 2023:

• CAF becomes the first multilateral bank to adhere to the Glasgow Tourism Declaration.
• CAF and UNWTO partner to promote tourism investments
• Working breakfasts with Latin American and Caribbean delegations to explore new ways to underpin tourism development agendas of the countries.
• Participation at FiturNext:
  • Round Table: “Private Enterprise and Tourism Sustainability” 
  • Event: “Regenerative tourism: Beyond sustainability of destinations”
  • CAF Event: “CAF-UNWTO Tourism Investment Forum”
• Participation at Fitur Know How:
  • Roundtable “Multilateral financing of tourism after COVID”
  • CAF Event: “Urban Regeneration, Creative Economies and Tourism” 
• Participation in the Ibero-American Conference of Tourism Ministers and Entrepreneurs (CIMET).

These are the lines of action of CAF’s new tourism proposal: 

• Identity, Social Equity and Cultural Heritage.Supporting and guaranteeing the economic, social and cultural well-being of local host communities (rural communities, indigenous peoples and Afro-descendants) and thus help enhance respect for their rights and heritage, boost their relevance and incorporate their vision and knowledge to attain environmental, development and conservation goals. 
• Biodiversity and ecosystem services. Supporting the protection, conservation and regeneration of marine, terrestrial and island ecosystems, and fostering biodiversity through the sustainable use of natural resources for economic benefits with minimal environmental impact. 
• Vulnerability to natural disasters resulting from climate change. Reinforcing monitoring systems and adaptation measures to address extreme events, especially in small island states. 
• Local and National Governance. Supporting local governments in their planning process, in an attempt to develop tourism plans at appropriate scales in coordination with national authorities, respecting the carrying capacity of the territory and linking all social stakeholders and sub-sectors in the tourism industry.
• Sustainability and Circular Economy. Accelerating the decarbonization of the industry, attempting to reach neutrality by 2050, promoting new business models through innovative solutions based on the use and reuse of resources, ecological regeneration, energy efficiency, water resources management, the integration of circularity throughout the tourism value chain, under the parameters of the framework for action of the Glasgow Declaration on Climate Action in Tourism and the Global Initiative on Tourism and Plastics. 
• Urban Regeneration and Creative Economies:Underpinning the revitalization and preservation of tangible cultural heritage and the generation of Enabling Infrastructure for Creative and Cultural Economies (e.g. cultural centers, museums, galleries, theatres, creative districts) for the consumption of products or services produced by the sectors where it is experienced, where people participate in creativity, art or culture, as well as the training of local talent.