WTTC – Page 3 – आवारा मुसाफिर

WTTC partners with GSTC to strengthen global hospitality standards

October 19, 2023706 Views

Industry titans agree a three-stage hotel sustainability initiative The World Travel & Tourism Council (WTTC) and the Global Sustainable Tourism Council (GSTC) have announced a major new partnership, aligning to establish a structured framework for hotel sustainability, leading to GSTC Certification. The partnership endorses the existing WTTC Hotel Sustainability Basics whilst paving the way for a stepped progression toward GSTC Certification for sustainable hotels. In an era where sustainability is paramount, WTTC and GSTC are joining forces to send a potent message to the market regarding the coherence and collaboration in the Travel & Tourism sector. The three-stage framework for hotel sustainability will now see the integration between the WTTC Hotel Sustainabi...

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Is travel & tourism ready for mandatory emissions reporting?

AWARA MUSAFIR BUREAU

September 26, 2023452 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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Travel & Tourism to witness major resurgence due to Chinese travellers

AWARA MUSAFIR BUREAU

September 25, 2023758 Views

# Sector set to contribute $1.48TN to the Chinese economy# Jobs anticipated to reach 106MN in next ten years# Huge surges in inbound and outbound passengers to and from China The World Travel & Tourism Council (WTTC), has shed light on the substantial resurgence of China’s Travel & Tourism sector. According to WTTC’s latest Economic Impact Research, China’s Travel & Tourism sector is predicted to contribute $1.48TN to the national economy by the end of 2023, up over 150% from 2022, when the sector contributed $583BN to the economy. Ten years from now, WTTC forecasts that the sector will contribute over $4TN to China’s economy, demonstrating remarkable growth, outpacing global CAGR by almost 2:1. The global tourism body is also forecasting that the sector will su...

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Unveiling the power of Retail Tourism

AWARA MUSAFIR BUREAU

September 9, 2023647 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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US remains most popular destination for shopaholics

AWARA MUSAFIR BUREAU

August 23, 2023680 Views

Positioned as largest contributor of retail tourism to GDP WTTC ‘Retail Report’ to be launched on 7th September According to the World Travel & Tourism Council (WTTC), the U.S. remains the preferred choice for shopping holidaymakers, as revealed at Virtuoso Travel Week, which was organised at Las Vegas, from 13 to 18 August. “Retail tourism is a thriving market segment of the Travel & Tourism sector in the U.S.”, said WTTC President & CEO, Julia Simpson. The joint research collaboration between WTTC and the Hospitality and Tourism Research Centre of The Hong Kong Polytechnic University, in collaboration with The Bicester Collection, will be published on 7th September during an event taking place at La Roca Village, part of The Bicester Collection, in Barcelona, S...

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Investment fuels growth in travel & tourism

AWARA MUSAFIR BUREAU

August 22, 2023675 Views

# Strong travel growth spurred rise in sector investment in 2022 # Asia-Pacific and Africa see investment up 161% in 2022 over 2000 The World Travel & Tourism Council’s (WTTC) Travel & Tourism Economic Impact 2023 Global Trends Report has revealed an encouraging resurgence in Travel & Tourism investment, overcoming pandemic setbacks and signalling a strong return to growth. From 2010 to 2019, investment grew steadily at 4.3% CAGR, growing from $754.6BN in 2010 to $1.1TN in 2019, or 4.5% of all economy-wide investment. COVID-19 hit hard, leading to a 24% decline in 2020 and a further 8% in 2021. However, 2022 marked a turning point. Spurred by the global phenomenon of pent-up demand, Travel & Tourism investment surged to $856BN, up 11.1% from the previo...

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

AWARA MUSAFIR BUREAU

July 20, 2023667 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, 2023645 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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More than 1.6MN Travel & Tourism jobs set to be created in India this year

AWARA MUSAFIR BUREAU

June 23, 2023602 Views

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) has revealed that India’s Travel & Tourism sector is in strong recovery and will be within touching distance of the pre-pandemic peak this year. Speaking to Ministers at the G20 Summit in India, Julia Simpson, WTTC President & CEO, highlighted the sector’s resilience, growing at twice the rate of GDP not only in India, but across all G20 nations. WTTC research forecasts Travel & Tourism contributing INR 16.5TN to the Indian economy this year, just 3.5% below 2019. The sector is forecast to create over 1.6MN more jobs this year, recovering almost all of the jobs lost due to the COVID-19 pandemic to reach almost 39MN, with around one in 13 workers in India in the Travel & Tourism...

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WTTC G20 Public-Private dialogue shines light on travel & tourism opportunities

AWARA MUSAFIR BUREAU

June 21, 2023730 Views

The World Travel & Tourism Council (WTTC) gathered leading Travel & Tourism stakeholders and G20 Ministers in a Public-Private Dialogue in Goa on Wednesday to address the sector’s vast potential and challenges. Joined by India’s Minister of Tourism, G. Kishan Reddy, and UNWTO Secretary-General Zurab Pololikashvili, Julia Simpson, WTTC President & CEO commended India’s Ministry of Tourism for its leadership during India’s G20 Presidency and highlighted Travel & Tourism’s substantial contribution not only to the global economy but to employment. Currently representing 9.2% of the world’s GDP and supporting one in every 11 jobs globally, the sector is experiencing remarkable growth, outpacing the global economy by growing twice as fast. Julia Simpson, WTTC President ...