Riviera Maya hoteliers have confirmed that $300 million in financing has been secured from international funds and the European Union to help address the significant financial and environmental impacts caused by sargassum across Quintana Roo.
These resources will support research projects and companies developing commercial products to make use of the algae and potentially generate profits.
Since 2015, sargassum has negatively impacted tourism in the Mexican Caribbean, with foul-smelling algae buildups leading to a reduction in hotel occupancy rates.
According to reports, beachfront hotels in Quintana Roo can spend up to $90,000 per month on sargassum removal to keep beaches appealing and attract tourists.
The point is that whether sargassum is left on the beach (something authorities and hoteliers won’t do) or removed, both options lead to significant revenue losses for the industry.
Keeping beaches free of seaweed also has an unintended environmental consequence: beach erosion due to the current aggressive collection methods.
Over the past three years, “7,000 tons of sand have been recovered from sargassum and returned to the coastlines for beach nourishment,” adding an extra financial burden that authorities are taking on themselves.
Chávez explained that the $300 million, consisting of non-repayable grants and loans arranged through European financial institutions, aims to speed up the development of sustainable solutions to a persistent environmental problem that is not going anywhere.
“The sargassum issue is much more complex than it seems and requires sustainable, long-term solutions. It has taken us more than four years to reach this point, and the involvement of the scientific community has been essential,” said Chávez, emphasizing that the arrival of these funds could be a game-changer for the region.
It’s worth noting that the funds have yet to be disbursed.
“We’ve had meetings with the European Union to finalize details regarding sargassum management. [As of today,] we’re just waiting [to receive the funds],” said Chávez.
This doesn’t mean that Mexican authorities and the private sector have relied solely on international aid. Both sectors have invested millions in scientific and tech initiatives to address the matter, particularly in improving seaweed collection methods and finding commercial uses for the algae.
In fact, on November 13, BBVA’s National Sustainability Challenge and the Riviera Maya Hotel Association will award funding to several innovative projects with strong potential to tackle sargassum collection and disposal.
The top winners include Sargapanel, a project focused on creating gypsum panels for building construction; Bioenergy and Bioproducts, a project that generates clean energy from sargassum bioproducts; and Phosphorus Removal from Wastewater, which is self-explanatory.
Additionally, nine more prizes will be awarded to sustainability-focused initiatives selected from among 130 proposals.
Is Sargassum Coming Back in 2025? What’s the Forecast?
Unfortunately, it is. Data from the Navy indicates that there are currently around 92 tons of sargassum in the Mexican Caribbean, as well as 7,112 tons in the Western Central Atlantic and 1,442 tons near other Caribbean nations.
While the 2024 sargassum season is officially over, giving tourists a chance to enjoy clean beaches during the Christmas season, much of the sargassum currently floating at sea is expected to start reaching beaches between late March and early April, when weather conditions are favorable.