tourism industry – Page 2 – आवारा मुसाफिर

Tourism industry expects budget to make India a destination of choice

January 17, 2024510 Views

Albeit interim, the Union Budget of India offers significant opportunity as a growth accelerator for the travel & tourism sector - a valuable contributor to the country’s GDP and a powerful employment engine. With just a few days to go, Indian tourism industry expects a multi-pronged approach from the government to stimulate its growth. Madhavan Menon, Executive Chairman, Thomas Cook India Ltd. said, "The Travel & Tourism sector represents a vital economic driver: With a 5.8% contribution to India’s GDP (2022) and the government’s target of achieving $1 trillion by 2047, the sector forms a strong force multiplier - across allied sectors, employment generation and foreign exchange receipts. Our expectations from the Union Budget include key pivots to transform India into a des...

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“People, Planet, Prosperity”: UNWTO global investment forum looks to the future

AWARA MUSAFIR BUREAU

October 18, 2023687 Views

The "where, why, how and how much?” of tourism investments were the focus of high-level dialogues within the framework of the UNWTO General Assembly in Samarkand, Uzbekistan. With UNWTO data analyses making clear the vital need for both increasing levels of traditional and non-traditional investments in the sector and also ensuring that it is not solely focused on a minority of well-established destinations. The Investment Forum brought on stage Ministers (Albania, Colombia, Kingdom of Morocco, Maldives, Peru and Spain) leading private sector experts and representatives of the global investment community to reflect on key challenges and opportunities. In line with UNWTO's priorities for global tourism, the focus was firmly on the growing needs of investments along 'People (Education)...

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Is travel & tourism ready for mandatory emissions reporting?

AWARA MUSAFIR BUREAU

September 26, 2023507 Views

The Travel & Tourism sector entered 2023 like a marathon runner hitting the last six miles of a race. It fought its way through almost two years of the COVID-19 pandemic — only to be overwhelmed, as the disease waned, by an unprecedented surge in travel by people tired of quarantines and lockdowns. With many in the sector still struggling to fill their workforces to handle this significant uptake of travel, big and small companies alike now face their next challenge — the accelerating transition from voluntary to mandatory sustainability reporting. Are they ready for it? In 2024, the first wave of tougher mandatory regulation on sustainability disclosure takes effect as new European Union sustainability rules start to compel the largest companies operating in the bloc to begin gath...

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New data shows investment returning to global tourism sector

AWARA MUSAFIR BUREAU

September 15, 2023572 Views

Investment in the global tourism cluster has started to bounce back from the lows it touched during the pandemic off the back of the steady recovery of international tourist arrivals, according to a newly released report jointly produced by UNWTO and fDi Intelligence. The report, which is based on data from fDi Markets, fDi Intelligence's proprietary database of greenfield FDI projects, as well as international tourism data from UNWTO, provides a broad overview of the ongoing investment cycle in the tourism sector, breaking down investment figures by region, segments and companies. Key findings include: Both FDI project numbers and job creation rates in the tourism cluster grew by 23% from 286 investments in 2021 to 352 in 2022. Job creation in tourism FDI also increased by 23%...

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Unveiling the power of Retail Tourism

AWARA MUSAFIR BUREAU

September 9, 2023660 Views

‘Retailtainment’ emerges as top theme for retail travellers WTTC says, retail tourism accounted for 6% of Travel & Tourism's GDP in 2019 The World Travel & Tourism Council (WTTC) has launched “Global Retail Tourism: Trends and Insights”, a report set to change the way we think about shopping tourism. The joint research between WTTC and the Hospitality & Tourism Research Centre of The Hong Kong Polytechnic University, in collaboration with The Bicester Collection, was published during an event which took place at La Roca Village, part of The Bicester Collection, in Barcelona, Spain, to coincide with the Village’s 25th anniversary. In 2019, retail tourism represented a substantial US$178BN, comprising 6% of the Travel & Tourism sector's value, and exceeding 15%...

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Women’s participation in travel & tourism critical to growth of global sector

AWARA MUSAFIR BUREAU

July 20, 2023675 Views

# Public-private collaboration ensure women receive training, networks and finance needed to build secure careers The World Travel & Tourism Council (WTTC) reiterated the importance of women’s engagement in Travel & Tourism to catapult its growth and achieve a thriving and resilient sector at the Women Deliver Global Conference, in Kigali, Rwanda. Speaking at the conference today, Julia Simpson, WTTC President & CEO, emphasised the importance of promoting women's involvement in the sector and overcoming challenges for success in the business world. The event served as a platform to address the challenges faced by women in the Travel & Tourism sector and explore strategies to overcome them, aiming to inspire change and promote equal opportunities for women in...

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EU Travel & Tourism sector recovering strongly

AWARA MUSAFIR BUREAU

June 28, 2023664 Views

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the EU Travel & Tourism sector is forecast to reach 98% of the 2019 peak. The sector is set to contribute €1.44BN to the economy this year, edging close to the 2019 pre-pandemic high of €1.47BN. WTTC is also forecasting that the sector will create more than 687K jobs this year, recovering almost 90% of the jobs lost due to the COVID 19 pandemic to reach more than 22.4MN, with one in nine workers across the EU, in the Travel & Tourism sector. A look back on last year Last year, the Travel & Tourism sector’s GDP contribution grew by 40.5% to reach more than €1.37BN, representing 8.7% of the Bloc’s economy, edging closer to the 2019 high of 9.6% of the economy. ...

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Global Travel & Tourism Catapults into 2023 Says WTTC

AWARA MUSAFIR BUREAU

April 27, 2023811 Views

# GDP contribution 5% off 2019 peak by the end of 2023 # Almost 22 million more Travel & Tourism jobs last year # International visitor spend up more than 80% The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) shows that the Travel & Tourism sector is closing in on its 2019 peak, recovering by more than 95%. In 2023, the sector is forecast to reach $9.5TN, just 5% below 2019 pre-pandemic levels when travel was at its highest. 34 countries have already exceeded 2019 levels. According to the research conducted by WTTC in collaboration with Oxford Economics, the global tourism body also forecasts that the sector will recover to 95% of the 2019 job level. A look back on last year Last year, despite the economic an...

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Ransomware attacks pose major cybersecurity threat to travel industry

AWARA MUSAFIR BUREAU

April 12, 2023777 Views

The travel and tourism sector has become a prime focus for cyberattacks in recent times, resulting in ransomware incidents arising from data breaches. Against this backdrop, cybersecurity concerns within the industry have escalated with a 4% year-on-year (YoY) rise in 2022, reflecting the prevailing sentiment, says GlobalData, a leading data and analytics company. An analysis of GlobalData’s Company Filings Analytics Database found that sentiment for airlines, travel services, and lodging rose by 6%, 4%, and 1%, respectively, in 2022 over 2021. Misa Singh, Business Fundamentals Analyst at GlobalData, comments: “Companies are consistently working on information and network security projects to set up a reliable technical protection and security management mechanism to ensure cust...

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WTTC unveils world-first global Travel & Tourism’s water footprint

AWARA MUSAFIR BUREAU

March 24, 2023575 Views

Sector’s total water footprint less than 1% of the global total; water intensity reduced by a fifth The World Travel & Tourism Council (WTTC) and the Saudi-based Sustainable Tourism Global Center have unveiled groundbreaking new data detailing the total water usage of the global Travel & Tourism sector. In one of the largest research projects of its kind, WTTC can for the first time ever, accurately report and track the impact the sector has on the environment. The findings were launched today at the United Nations in New York at the UN 2023 Water Conference. Direct Water Use Speaking at the UN Headquarters, Chris Imbsen, Director of Sustainability at WTTC, revealed that Travel & Tourism’s entire water footprint is just 0.6% of the global water use according...