&w=1024&resize=1024,0&ssl=1 "Domestic tourism will contribute US billion to the global economy by 2034: WTTC | the news")
According to the World Travel and Tourism Council (WTTC), domestic tourism is estimated to contribute $67 billion to the global economy by 2034.
'Supporting Global Indigenous Tourism', a report released by the World Tourism Organization at the recent Global Summit in Perth, Western Australia, shows the role of Indigenous tourism in promoting economic growth, especially in remote areas, and its important contribution to cultural preservation and communities. empowerment
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Speaking at the summit, WTTC President and CEO Julia Simpson said Indigenous tourism is not just about showcasing rich cultural heritage; It's about empowering communities, creating sustainable jobs and ensuring indigenous people have control of their own histories and economic future.
The report demonstrates the immense potential of indigenous tourism to drive economic growth, especially in remote areas, while preserving invaluable cultural heritage. As the demand for authentic experiences continues to grow globally, it is critical that we support indigenous businesses and ensure they have access to the resources and financing they need to thrive, said Simpson.
Indigenous tourism also plays an important role in preserving cultural heritage, language and traditional practices, said reports from the three-day 24th WTTC Global Summit, which featured a gathering of industry leaders, government officials and delegates from all over the world.
During the conclave, WTTC launched 'Together in Travel', a unique initiative that aims to provide support and resources to small and medium-sized businesses in the global travel and tourism sector.
The platform is designed to provide SMEs with the tools and resources they need to accelerate their business growth and make their voices heard globally.
Another report published by WTTC revealed that business travel will surpass pre-pandemic levels this year, faster than previously predicted, reaching $1.5 billion.
The rise in remote work during the pandemic has had a disproportionate impact on corporate travel compared to leisure travel, with virtual platforms replacing in-person meetings, the report states.
ForwardKeys, a leading travel intelligence agency and WTTC knowledge partner, says the global tourism industry is coming back to life in 2024, with international arrivals increasing 16% compared to 2023 figures.
The resurgence is largely fueled by the Asia-Pacific region, which is finally hitting its stride after a delayed post-pandemic reopening, the agency said.
Another WTTC report reveals that Oceania's travel and tourism sector could inject an additional $112 billion into the region's economy by 2034, bringing the total contribution to a record $336 billion.
The report, “Unlocking opportunities to grow travel and tourism in Oceania”. It describes the transformative potential of the region's sector if strategic investments are made. It states that Oceania, which includes Australia, Melanesia, Micronesia and Polynesia, can become a global leader in sustainable travel.
WTTC announced Nguyen Thao Van of Vietnam's VinUniversity as the winner of the inaugural Investor's Nest.
In partnership with the Sustainable Hospitality Challenge, this event showcases visionary solutions from the minds of brilliant students, showcasing next-generation solutions poised to transform the future of hospitality.
The latest environmental and social research published by WTTC, and developed in partnership with the Saudi Arabian Ministry of Tourism, reveals that travel and tourism will be responsible for 6.7 percent of all global emissions by 2023, below from 7.8 percent in 2019, when the sector was at its peak.
The study notes that the sector's economic contribution is growing faster than its environmental impact.
The summit also features insights from former US Secretary of State John Kerry and one of Australia's leading conservationists, Robert Irwin, reflecting on the role of tourism in addressing pressing global environmental challenges.
The World Tourism Organization has announced that the 25th WTTC Global Summit will be held in Rome next year.
(Only the title and image for this report may have been reworked by the Business Standards team; the rest of the content is automatically generated from a distributed feed.)
