The approximately $2.7 billion in tourism losses caused by red tide in Florida in 2018 underscores the need to view harmful algae blooms as potential multibillion-dollar disasters. (Image courtesy of Antoine Hart, UCF).Credit: Antoine Hart, University of Central Florida
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The approximately $2.7 billion in tourism losses caused by red tide in Florida in 2018 underscores the need to view harmful algae blooms as potential multibillion-dollar disasters. (Image courtesy of Antoine Hart, UCF).Credit: Antoine Hart, University of Central Florida
A new study from the University of Central Florida's Rosen College of Hospitality Management estimates that Florida red tide cost tourism businesses about $2.7 billion in 2018.
The study, conducted in collaboration with the University of South Florida and Florida A&M University, recently environmental management journal. This study provides a deeper understanding of the economic impact of harmful algal blooms (HABs) on Florida's tourism sector.
One of the most striking conclusions of this study is the relationship between the severity of red tide blooms and their economic impact on tourism.
Contrary to expectations, the study found that low-concentration red tide can have a disproportionate economic impact compared to more intense red tide events.
This finding highlights the importance of how red tide information is communicated, perceived, and influences economic impacts.
“The magnitude of losses from red tide shows how important it is for federal and state governments to allocate adequate resources to respond to and recover from harmful algal blooms in coastal areas,” said lead author of the study. said Sergio Alvarez, an assistant professor at the same university. Rosen University.
“Furthermore, coastal tourism operators must consider harmful algae as a very real risk to the economic sustainability of their operations,” he says. “Finding the right risk management tools for individuals, businesses and communities that may be economically impacted by harmful algae blooms is essential.”
About research
Extensive research provides a comprehensive analysis of the economic impact of marine HABs, especially red tide, on coastal tourism.
Red tide tourism losses in Florida in 2018 amounted to approximately $2.7 billion, highlighting the need to consider HABs as potential multibillion-dollar disasters.
Both Southwest and Southeast Florida experienced significant losses, amounting to $1.27 billion and $1.35 billion, respectively.
This comprehensive study is based on a unique combination of data sources. We combined detailed sales information from tourism-related businesses across Florida with cutting-edge monitoring data on red tide outbreaks.
Data was collected and analyzed from two main sources. One is the Florida Department of Revenue, which provides extensive sales tax collection records, and the other is the Florida Fish and Wildlife Conservation Commission's Red Tide Monitoring Program.
Combining these data sources strengthened the study's findings and provided a valuable resource for understanding economic dynamics, Alvarez said.
He said the study will provide important data for policymakers, environmentalists and tourism stakeholders, while also serving as a wake-up call to the general public about the significant economic impact of environmental phenomena such as red tide. Ta.
For more information:
Sergio Alvarez et al., Nonlinear Impact of Harmful Algae Blooms on the Coastal Tourism Economy, environmental management journal (2023). DOI: 10.1016/j.jenvman.2023.119811
Magazine information:
environmental management journal
