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Conduct a thorough cost-benefit analysis of coastal protection at a local level: Cost-benefit analysis of<br />
coastal protection will be informed by the estimated cost of damage to specific infrastructure <strong>and</strong><br />
properties. The specific location of infrastructure is important for estimating impacts to a high level of<br />
fidelity. Similarly, property values are highly dependent on exact location – for example in some areas the<br />
most expensive property values may be on the coast, whereas in others they may be located on a hillside.<br />
A detailed analysis of property prices by location is required as part of local level studies. The Government<br />
of the <strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong> Isl<strong>and</strong>s, local resort owners, <strong>and</strong> local building authorities, are encouraged to<br />
collaborate with members of the research community to help develop a cost benefit analysis of coastal<br />
protection. In addition to refining estimates of costs to rebuild infrastructure (particularly in areas with<br />
high-density coastal development), there is an important need to investigate the response of international<br />
tourists <strong>and</strong> the private sector to the impacts of coastal erosion to test adaptation strategies in the tourism<br />
sector. By completing a cost-benefit analysis, decision makers will able to identify the best adaptation<br />
options to adopt <strong>and</strong> can begin to move forward in reducing the vulnerability of settlements <strong>and</strong><br />
infrastructures in vulnerable areas.<br />
Medium Term Actions<br />
Complete a focused analysis of the vulnerability of secondary <strong>and</strong> tertiary economies to SLR <strong>and</strong><br />
determine the economic impacts of these damages for the tourism sector. Tourism infrastructure is<br />
vulnerable in <strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong>. With tourism contributing a large proportion to the national economy, the<br />
capacity of the economy to absorb <strong>and</strong> recover from proportionately higher economic losses in that sector<br />
is expected to be low. Determining the secondary <strong>and</strong> tertiary economic impacts of damages to the tourism<br />
sector <strong>and</strong> possible adaptation strategies for <strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong> should be a priority for future research. This<br />
will enable the identification of the degree to which the economy of <strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong> <strong>and</strong> its citizens are<br />
economically <strong>and</strong> socially vulnerable to SLR. In the event that this study finds tourism to be economically<br />
vulnerable to the impacts of SLR, then action plans could be developed to diversify the economy <strong>and</strong><br />
provide training <strong>and</strong> tools to help workers transition to other sectors that may be less vulnerable.<br />
Assess the adaptive capacity of the tourism sector to SLR: Tourism is one of the most important sectors in<br />
<strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong>. Given the close proximity of the tourism infrastructure to the coast, it is highly dependent<br />
on the attractiveness of the natural coastal environment, which has been shown to be vulnerable to SLR.<br />
More detailed analysis of the impacts of SLR for major tourism resorts, critical beach assets <strong>and</strong> supporting<br />
infrastructure (e.g. transportation networks) is needed to accurately assess the implications for inundation<br />
<strong>and</strong> erosion protection. A necessary part of this evaluation is to identify the l<strong>and</strong> that can be used for<br />
tourism infrastructure <strong>and</strong> future development under a managed retreat response to SLR.<br />
Long Term Actions<br />
Review <strong>and</strong> develop policies <strong>and</strong> legal framework to support coordinated retreat from high-risk coastal<br />
areas: The Government of <strong>Turks</strong> <strong>and</strong> <strong>Caicos</strong> must review existing policy <strong>and</strong> legal frameworks to assess the<br />
responsibilities of the state <strong>and</strong> l<strong>and</strong>owners for the decommissioning of coastal properties damaged by the<br />
impacts of SLR. The government should also examine the use of adaptive development permits that will<br />
allow development based on current underst<strong>and</strong>ing of SLR, but stipulate the conditions for longer-term<br />
coastal retreat if sea level increases to a specified level. Current coastal set-back regulations need to be<br />
reassessed in light of new SLR projections to ensure that new developments are not built in vulnerable<br />
coastal areas.<br />
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