Half of Australia’s tourism assets such as airports, national parks, beaches and museums are at risk from a changing climate and natural perils, according to research from Zurich.

The insurer’s Climate Risk Index, released jointly with research group Mandala Partners, analyses the risk to 178 tourism assets from wind, flood, heat, storm, drought, bushfire, hail and rain.

It found half of the assets fall within the three highest risk categories.

All 31 of the busiest airports in Australia are in the highest risk categories due to susceptibility to wind and storms. Wine-growing regions, botanic gardens, scenic roads and rail, and rainforests and national parks are also top-rated. 

“This poses significant risks to tourism in the future,” the report says.

The tourism industry accounts for more than $170 billion of annual spending and employs more than 620,000 people.

Queensland has 79% of the sites facing elevated risks. Across the southern states, the risks are lower. 

“Sites in the highest three risk categories are likely to face significant risk from multiple perils with a high impact on environmental degradation, tourism functionality and appeal, accessibility and ecosystem balance,” the report says.

The 10 most at-risk tourism assets are rainforests and national parks, which face significant threats from heat, bushfires and wind.

Sydney Harbour, Byron Bay and the Hunter Valley face the greatest climate risk in NSW, while sea level rises and more frequent storms will “change the size and composition of Bondi Beach”, the insurer says.

“This analysis highlights the critical importance of improving resilience across our tourism assets, both to ensure the sustainability and longevity of these sites and to minimise downstream economic impacts – particularly in regional areas – on employment, business formation, consumption and investment,” Zurich’s local CEO Justin Delaney said.

See the report here.