Climate change is not only reshaping ecosystems and the global economy. It is also changing the way we travel. In this episode of Risk and Return, we explore how rising temperatures are affecting urban tourism in Southern Europe and what this means for hotels, cities, and destinations that rely on visitors.

Hosted by Omar Rachedi, this episode features Pedro Aznar, Associate Professor of Economics and Vice Dean of Programs at Esade. Together, they examine how extreme heat can reduce hotel occupancy during the summer months, shift seasonal demand patterns, and force businesses and policymakers to rethink their investment and adaptation strategies. A conversation about climate risk, competitiveness, and the future of tourism.

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