Tourism is growing at 4% annually worldwide (nearly double the global GDP) and up to 10% in emerging destinations. This growth has accelerating impacts on local destinations where there are rarely any effective processes for maintaining the social and environmental value of those destinations, even as the economic value of tourism rises. The threat of degrading or destroying vital global assets, such as beaches, coral reefs, parks and protected areas, and historic monuments is a critical issue that must be addressed because of the fact that those assets form the very foundation of the global tourism industry.
Without new business models that explicitly recognize the costs and impact of tourism on critical assets; evaluate and support investment that helps manage and mitigate conservation of destinations; nurture supply chains that reinforce socially (including historic and cultural), ecologically (including water, soil, and air) and economically robust destinations; and account for true, full cost of tourism impacts and outcomes, neither local economies nor the global economy will continue to benefit from tourism growth as destination assets are diminished in value to the point that costs to restore far exceed what might have been judicious investment in maintenance. Unless we change how we maintain tourism assets, neither local economies nor the global economy will continue to benefit from tourism growth as destination assets are increasingly damaged to the point of diminishing returns from an economic, social and environmental perspective.
STAMP is a new program launched by the Center for Sustainable Global Enterprise at the Cornell SC Johnson College of Business which seeks to support the development of applied research, curriculum resources, and outreach activities that will increase collective knowledge and understanding of how to more effectively manage tourism destination assets over time in the face of endemic poverty, ecosystem degradation, and climate change.
For information about STAMP, you can reach Megan Epler Wood, Managing Director of STAMP and ProfessorMark Milstein, Director of the Center for Sustainable Global Enterprise at STAMP@cornell.edu.
April 18, 2017 – Request for Proposals – the Johnson Graduate School of Management’s Center for Sustainable Global Enterprise at Cornell S.C. Johnson College of Business has announced a request for proposals through the STAMP Program in order to encourage the development of applied research that will increase collective knowledge and understanding of how to more effectively manage tourism destination assets over time, to improve maintenance, ensure proper valuation and help offset the influences of poverty, ecosystem degradation, climate change, land tenure, and the lack of government investment in the vital local infrastructure in underdeveloped economies worldwide. The deadline for proposals is June 15, 2017.