Despite the valuable contribution and importance of the natural capital of TCI for tourism, TCI resources to protect nature are scarce. In this project, the application of an analytical framework for sustainable finance demonstrates the need to establish long-term financing mechanisms for protected area management based on a healthy tourism industry.
With support from the Gulf and Caribbean Fisheries Institute (GCFI), evidence to build a strong case for additional government funding was created by developing a financial plan for the Department of Environment and Coastal Resources (DECR), estimating the value of nature for tourism and analyzing legal opportunities to guarantee a sustainable source of income for optimal protected area management.
In the context of the first phase of this project, Esther Wolfs was invited to speak about the importance of nature for tourism during the National Tourism Symposium of the Turks & Caicos Islands, in November 2015.
The results of this project were presented by the director of DECR, Dr. John Claydon, at the 69th Annual Gulf and Caribbean Fisheries Institute Conference, in November 2016.
An interactive summary of the process, results and lessons learned from this and other follow-up projects with DECR is publicly available on the platform ‘PANORAMA – Solutions for a Healthy Planet‘.