This dissertation was written as part of the MSc in Energy Law, Business, Regulation
and Policy at the International Hellenic University.
Cost-benefit analysis (CBA) is a useful tool to decision-makers in order to determine
the optimal measure that needs to be taken. In comparison to alternative measures
and policies, CBA is used to estimate if the benefits of a policy outweigh the costs.
Several factors must be taken into consideration such as the proper calculation of cost
and benefits and the discount rate. Tourism sector is affecting climate change, while
climate change is affecting tourism. Tourism is a major contributor to the causes of
climate change via greenhouse gas emissions from transportation. As tourism
continues to grow, so will the effects it has on climate change. On the other hand,
climate change has a significant impact on the tourism industry, since it alters the
natural resources that support tourism, the length and the nature of tourism seasons,
worsen experience quality and increases health dangers due to extreme climatic
events. This dissertation examines both adaptation strategies of the tourism sector
and the effect that mitigation strategies could have on the tourism sector. First, we
examine the measures that have been taken already and then the potential measures
that need to be undertaken. Furthermore, we examine the implications that the main
national strategies, such as the commitments to Kyoto Protocol earlier to the Paris
Agreement later and to the recent COP26, will have on the Greek tourism sector.
Several European Common and Coordinating Policies and Measures (CCPM) that have
an impact on the tourism industry are analyzed as well. Next, a cost-benefit analysis
for adaptation and mitigation scenarios in Greece that was conducted by the Bank of
Greece is reviewed. Finally, we present the outstanding example of a Greek resort
which actions regarding climate change has led it to become Greece’s first carbonneutral resort in 2020.
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