Monaco: Red Sea Global (RSG), in partnership with the Future Investment Initiative (FII) Institute, the Wave Initiative, and the Prince Albert II of Monaco Foundation, has issued a joint global report titled "Unlocking Innovation for Regenerative Tourism". This report aims to accelerate the transition toward a regenerative tourism model contributing to ecosystem restoration, community empowerment, and the activation of a sustainable blue economy.
According to Saudi Press Agency, the report comes at a time when the global blue economy is estimated to be worth around $2.5 trillion and is projected to double by 2030. This growth aligns with the increasing traveler interest in environmentally conscious experiences, despite the current limited availability of such options.
Drawing from analytical insights and real-world case studies, the report presents findings from a survey of leaders in the tourism, hospitality, and investment sectors. It highlights that tourism's direct contribution to global GDP reached approximately $9.9 trillion in 2023, representing 9.1% of global output. Coastal and marine tourism accounts for more than half of international travel activity.
The report also identifies key barriers hindering the progress of regenerative tourism, notably the supply-demand gap. About 43% of travelers expressed willingness to pay more for sustainable tourism experiences, yet options with genuine environmental value remain scarce. Additionally, 58% of investors cited a lack of accurate data as an obstacle to financing this promising sector, along with slow implementation, limited innovation funding, and difficulties in estimating economic returns reported by more than 40% of innovators.
Head of Environment and Sustainability at RSG Raed Albasseet stated that the report serves as a call to boost investment in practices that restore balance between nature and economic growth. He emphasized that tourism has the potential to create a dual positive impact benefiting both people and the planet.
FII Institute CEO B©n©dicte Penny Richards noted that innovation will shape the future of the tourism industry and urged investors to engage with the report's findings. Similarly, Jamila Al Mir, Head of Insights and Activation at the Wave Initiative, emphasized the importance of open data and international collaboration to accelerate environmental solutions.
Prince Albert II of Monaco Foundation CEO Olivier Wenden echoed these views, adding that the report offers a roadmap for protecting biodiversity across regions-from the Mediterranean to the polar zones.
The report's findings were presented during a workshop held in Monaco on June 7, as part of the Blue Economy and Blue Finance Forum. They were also discussed at the Innovation Pavilion during the United Nations Ocean Conference in Nice, France, on June 10, where smart technologies supporting regenerative tourism practices were showcased.
In its conclusion, the report calls for greater investment awareness, accelerated strategic funding for blue technologies, alignment of regulatory frameworks, support for scalable startups, and unified efforts in hospitality, policy, and innovation within a regulatory environment conducive to long-term sustainable impact.
RSG, a Public Investment Fund company, is responsible for developing sustainable tourism destinations in Saudi Arabia, such as The Red Sea, AMAALA, and Thuwal Private. The company also oversees the development of Al Wajh Airport and implements various environmental initiatives, including coral and seagrass nurseries, while operating destinations using 100% renewable energy.