How Climate Risks Are Reshaping Business Responses

Extreme weather events are no longer limited to their usual seasons, occurring unexpectedly and with increasing frequency. For cities and tourist destinations vulnerable to extreme weather events, the economic consequences and reality are becoming harsher: unpredictable storms, infrastructure damage, and disrupted economies. In 2023, when Category 5 Hurricane Otis passed by Mexico’s Pacific coast, it affected 80% of hotels in Acapulco and caused an estimated $16 billion in damage. These intensifying threats underscore the urgent need for climate resilience and adaptation across the economy. The tourism industry is not the only sector affected.

Continue reading news on Weforum