IDB, Jeju Province advance Tourism Energy Cooperation in Latin America

THE NEWS: The Inter‑American Development Bank and Jeju Province of the Republic of Korea have signed a Memorandum of Understanding establishing a framework for cooperation to advance sustainable tourism development and strengthen energy governance across Latin America and the Caribbean.

DETAILS:

WHY IT MATTERS: By linking a major development bank with a leading Korean tourism region, the MoU could accelerate the adoption of smart‑tourism technologies and sustainable energy practices in Latin America and the Caribbean, helping the region meet climate goals while enhancing tourism competitiveness.

FAQ

What is the purpose of the MoU signed between the Inter‑American Development Bank and Jeju Province?
The MoU creates a framework for cooperation between the Inter‑American Development Bank and Jeju Province to advance sustainable tourism development and strengthen energy governance across Latin America and the Caribbean, promoting knowledge exchange and collaborative opportunities through joint initiatives.

Which technologies will be explored under the smart‑tourism component of the agreement?
The agreement includes exploring digital transformation tools for smart tourism, such as artificial intelligence, data analytics, and other measures to improve tourism management and governance across participating countries, enhancing decision‑making and visitor experiences through integrated platforms and real‑time monitoring for operators and policymakers.

How will the collaboration aim to improve energy systems in Latin America and the Caribbean?
The collaboration will promote cost‑effective, secure, resilient, and sustainable energy systems across the region by focusing on energy governance, regulatory frameworks, and institutional capacity‑building, supporting knowledge exchange and innovation in Latin America and the Caribbean through joint projects and best‑practice sharing.

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