BofA Global Research released findings today that indicate significant changes in snowfall patterns over the past three decades, with a reduction of approximately 11-17 inches nationally.
The research also highlighted a shorter snow season and earlier peak snowfall times. These changes are expected to substantially affect the ski industry, with projections suggesting a potential decrease in snow accumulation of 20-30% at U.S. ski resorts by 2050.
The report emphasized that ski resorts with higher base altitudes might fare better in avoiding closures due to insufficient snow security compared to those at lower altitudes. The shorter snow seasons could lead to a majority of ski resorts facing the risk of not opening by Christmas or failing to remain open for a minimum of 100 skier days.
This situation poses significant challenges to the operations, profitability, and sustainability of the ski industry.
BofA Global Research pointed out that snowmaking technology is a crucial adaptation strategy for ski and mountain resorts, particularly in the Southeast, Midwest, and Northeast regions of the United States.
However, the effectiveness of snowmaking is threatened by rising winter month temperatures, which could undermine the benefits of the technology despite the presence of necessary infrastructure.
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