Empowering Sustainable Growth through Tourism
Tourism plays a pivotal role in fostering economic growth, particularly in emerging markets. As a labor-intensive industry, it generates millions of jobs, promotes cultural exchange, and drives investment across various sectors, including agriculture, construction, and retail. In celebration of World Tourism Day, IFC highlights its commitment to promoting sustainable and inclusive tourism projects that contribute to economic resilience and environmental stewardship.
Through investment in the private sector and collaboration with governments, financial institutions and sector organizations, IFC works to support tourism projects that drive economic resilience, especially in the countries and regions affected by global development challenges. In addition to financing tourism in emerging markets, recent initiatives include investments in supporting responsible tourism infrastructure, augmenting sustainable capacity for local businesses, and promoting strategic marketing to attract high-value tourism markets. By integrating sustainability and innovation, IFC is ensuring that tourism not only recovers but thrives, creating lasting benefits for local communities and ecosystems.
Examples of IFC’s work in Tourism
Provided Sustainability Linked Loans and Bonds, as Green and Blue Loans to hotel companies committed to achieving higher environmental protection and resource efficiency targets.
Create an enabling environment by proposing policy reforms in coordination with the World Bank that will unlock private sector participation in the tourism market.
Developed advisory programs to support hotel developers and operators enhancing their local supply chains and better manage their relationships with the local community and other key stakeholders.
Support national governments through advisory programs on tourism-related policies and market positioning.
Provide the EDGE (Excellence in Design for Greater Efficiencies) service to hotel developers to introduce reliable way to save on utility bills while reducing a project’s carbon footprint.
Videos
Green Tourism & Local Currency Bonds: Riccardo Puliti in conversation with Doan Quoc Huy
Rwanda’s E-Bike Revolution: Cutting Emissions, Fueling a Greener Future
