Maldives To Buy New Homeland
The Maldives are starting to save to buy a new homeland because their low-lying country is expected to disappear if predictions by climate change models are true. Already most of the Maldives, a chain of 1,200 island and coral atolls in the Indian Ocean, is barely 1.5 meters above sea level.
Mohamed Nasheed, the country’s first democratically elected president, announced that a portion of the country’s billion dollar tourist revenue will be put aside as an insurance policy if the worst were to happen. He has already canvassed a number of countries receptive to selling land to the Maldivians. Sri Lanka and India are obvious targets as they share similar cultures and climate.
Mohamed Nasheed, the country’s first democratically elected president, announced that a portion of the country’s billion dollar tourist revenue will be put aside as an insurance policy if the worst were to happen. He has already canvassed a number of countries receptive to selling land to the Maldivians. Sri Lanka and India are obvious targets as they share similar cultures and climate.
Trend Themes
1. Climate Change Adaptation - The trend of countries, like the Maldives, saving funds to purchase new homelands in response to the threat of rising sea levels caused by climate change.
2. Island Nations' Resilience - The trend of island nations proactively preparing for the potential disappearance of their current territories by exploring options to acquire new land.
3. Global Land Market - The trend of creating a market for the sale of land between countries, particularly between low-lying island nations in need of new territories and countries with available land.
Industry Implications
1. Tourism - The tourism industry in low-lying island nations like the Maldives can potentially benefit from redirecting a portion of their revenue towards saving funds for purchasing new homelands.
2. Real Estate - The real estate industry can explore new opportunities to facilitate the sale of land between countries, especially between island nations threatened by climate change and countries with suitable land.
3. Insurance - The insurance industry can provide innovative solutions, such as climate change insurance policies, to help countries like the Maldives protect themselves financially against the potential loss of their territories.
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