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Hospitality Net
08-07-2025
- Hospitality Net
WTTC Calls for Smarter Tourism Management as Destinations Face Pressure
London, UK - As Travel & Tourism enters the height of the summer season, the World Travel & Tourism Council (WTTC) has today launched a new report calling for a more balanced approach to managing tourism in popular destinations. While overcrowding is often seen as a tourism problem, many of the real pressures come from deeper issues such as underinvestment in infrastructure, poor planning, and fragmented decision-making. These challenges affect both residents and visitors and need joined-up solutions. Travel & Tourism supports one in every 10 jobs and nearly 10% of global GDP and is set to support one in three new jobs over the next decade. When managed well, it also fosters cultural exchange, global understanding, and environmental protection. But without smart planning, the benefits it brings could be at risk. WTTC's paper, Managing Destination Overcrowding: A Call to Action, explains that there's no simple fix to the problem and urges governments, local leaders, and businesses to work together to support both communities and visitors. In 2024, Travel & Tourism is expected to contribute nearly $11TN to the global economy and support 357MN jobs. That's a huge success but it also means destinations must plan to manage growth responsibly. Annually, governments around the world accrue more than $3.3TN from Travel & Tourism businesses, equivalent to 9.6% of global tax revenues. The global tourism body urges governments to reinvest this sum in vital infrastructure, and solutions to relieve pressures on already very popular destinations. The report looks at some of the root causes of overcrowding in a small number of increasingly popular destinations across Europe and offers real-world solutions that can be tailored to local needs. From using better data and planning tools, to involving residents in decisions. A Practical Plan of Action The paper outlines six simple steps destinations can take to manage tourism better: Get Organised – Bring the right stakeholders together, via empowered taskforces Make a Plan – Define a shared vision and destination strategy Gather the Evidence – A lack of data is exacerbating issues in several destinations. It is therefore crucial to carry out evidence-based diagnoses and responses to the unique challenges faced by each destination Stay Vigilant – Monitor conditions and act early Invest Wisely – Reinvest in infrastructure and resilience, being transparent about where money is spent Empower Residents – Make sure residents have a say and understand the benefits of Travel & Tourism in their communities Why It Matters A growing number of destinations have introduced tourism taxes in response to pressure, but WTTC warns that these measures don't always solve the real problems and can put jobs, income, and services at risk. The report finds that if 11 major European cities capped visitor numbers, it could cost $245BN in lost GDP and almost 3MN jobs over three years. The report includes examples of destinations that are taking positive steps to combat some of the causes: Turisme de Barcelona Consortium operates under a public-private partnership model, guided by the principles of sustainable development goals VisitFlanders' Travel to Tomorrow strategy, which reframes tourism as a tool to support local community goals such as making sure that listening to residents needs is a central tenet in their practice Dubrovnik's partnership with CLIA, reducing congestion through cruise coordination and community dialogue Iceland, which reinvests tourism levies directly into environmental protection Travel & Tourism brings huge benefits including jobs, investment, and deeper cultural understanding. But growth needs to be managed carefully. We're encouraging all decision-makers to think ahead, work together, and focus on long-term benefits for residents and visitors alike. This isn't about stopping tourism, it's about making it work for everyone. Julia Simpson, WTTC President & CEO The global tourism body believe this is a moment of opportunity. With the right steps, destinations can protect what makes them special while ensuring that tourism continues to bring value to communities and local economies. The report makes clear there's no one-size-fits-all solution. Every destination is different, and actions must be based on local realities. But with cooperation and planning, Travel & Tourism can continue to thrive in a way that protects what makes each place special. The paper encourages leaders to think beyond short-term fixes and focus on reinvesting tourism income into critical infrastructure improvements, local services, and resident wellbeing. For more information and to download the report, please visit WTTC's Research Hub. About WTTC The World Travel & Tourism Council (WTTC) represents the global travel & tourism private sector. Members include 200 CEOs, Chairs and Presidents of the world's leading travel & tourism companies from all geographies covering all industries. For more than 30 years, WTTC has been committed to raising the awareness of governments and the public of the economic and social significance of the travel & tourism sector. WTTC Press Office WTTC View source
National Post
03-07-2025
- Business
- National Post
Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 2034
Article content The World Economic Forum report, in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, predicts a significant uptick in tourist trips across the globe The tourism sector will contribute $16 trillion to global GDP (more than 11% of the global economy) by 2034, according to World Travel & Tourism Council estimates (WTTC) India and China will be responsible for more than 25% of all outbound travel by 2030 Article content LONDON — The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Article content Travel and Tourism at a Turning Point: Principles for Transformative Growth Article content , produced in collaboration with Article content Kearney Article content and the Article content , reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed. Article content Inbound and outbound trips increasing fast Article content Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030. Article content Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility. Article content Sports and technology Article content Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases. Article content To support this boom, the industry will need to expand significantly—requiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally. Article content Risks and opportunities Article content However, the report also flags significant risks. Travel and tourism currently accounts for 8% of global greenhouse gas emissions, a figure that without intervention could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases. Article content Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration. Article content Børge Brende, President and CEO of the World Economic Forum, said: Article content 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense—but realizing this opportunity will require more than incremental change. Article content 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.' Article content His Excellency Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said: Article content 'This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient. Article content 'In Saudi Arabia, we're investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.' Article content Bob Willen, Managing Partner and Chairman at Kearney, added: Article content 'Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit. Article content 'The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It's about creating a travel and tourism sector that's not just bigger, but works in everyone's interests.' Article content Notes to editors Article content Travel and Tourism at a Turning Point: Principles for Transformative Growth is published by the World Economic Forum in collaboration with Kearney and the Kingdom of Saudi Arabia. The report draws on global data, expert interviews and scenario modelling to set out a roadmap for a sustainable and inclusive tourism future. Article content About Kearney Article content Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver—value, results, impact. Article content The World Economic Forum, committed to improving the state of the world, is the international organization for public-private cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas. ( Article content ). Article content About the Ministry of Tourism of Saudi Arabia Article content The Ministry of Tourism of Saudi Arabia, established in the year 2000, is at the forefront of transforming the Kingdom into the most attractive global destination for tourists and investors. Dedicated to realizing Saudi Arabia's ambitious Vision 2030, the Ministry focuses on long-term growth through innovative policies, strategic investments, and the development of national human capital. With a mission centered on enabling accelerated and sustainable growth, it employs data-driven strategies and integrated delivery mechanisms, all while staying true to the country's rich Arabian authenticity. The Ministry is deeply committed to sustainability, aiming to lead by example in minimizing environmental impact and promoting eco-friendly tourism practices that ensure the preservation of natural resources for future generations. By aspiring to captivate hearts and minds of global audience, the Ministry opens Saudi Arabia's doors to the world, creating a tourism sector where transformative stories are experienced daily. Having welcomed 100 million visitors in 2023, Saudi Arabia is on a steadfast journey toward its goal of 150 million visitors by 2030. As the guiding force behind Saudi Arabia's tourism sector transformation, the Ministry champions cutting-edge regulations, fosters successful collaborations and cultivates talent. This commitment positions the Kingdom to welcome the world, fueling the realization of Vision 2030 and showcasing a sustainable and vibrant future. Article content Article content Article content Article content Article content Contacts Article content Press contact Article content Article content Tom Stewart-Walvin Article content Article content Article content
Arabian Business
03-07-2025
- Business
- Arabian Business
Global tourism to reach 30 billion trips, $16tn GDP by 2034: Report
Global tourism is projected to serve 30 billion tourist trips by 2034, contributing $16 trillion to global GDP and representing more than 11 per cent of the total world economy, according to a new World Economic Forum report. The report, titled 'Travel and Tourism at a Turning Point: Principles for Transformative Growth,' was produced in collaboration with Kearney and the Ministry of Tourism of Saudi Arabia. It reveals that the tourism sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as mounting challenges of climate change, labour shortages and infrastructure gaps are addressed. Asia to lead global tourism growth Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7 per cent across the region by 2034. India and China alone will represent more than 25 per cent of all outbound international travel by 2030. Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility. High-growth segments like sports tourism are projected to hit $1.7 trillion by 2032, while ecotourism is growing at a 14 per cent compound annual growth rate, redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91 per cent of industry tech leaders anticipate aggressive investment increases. To support this boom, the industry will need to expand significantly – requiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally. However, the report also flags significant risks. Travel and tourism currently accounts for 8 per cent of global greenhouse gas emissions, a figure that without intervention could rise to 15 per cent by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7 per cent of the world's solid waste. Workforce shortages are escalating, with the UK alone seeing 53 per cent turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16 per cent-above-inflation wage increases. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration. Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense – but realising this opportunity will require more than incremental change. 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.' Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said: 'This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient. 'In Saudi Arabia, we're investing in regenerative destinations, future-ready infrastructure, and talent development – not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.' Bob Willen, Managing Partner and Chairman at Kearney, added: 'Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit. 'The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It's about creating a travel and tourism sector that's not just bigger, but works in everyone's interests.'
Zawya
03-07-2025
- Business
- Zawya
Global tourism surging ahead of economic growth, with visits to hit 30 billion by 2034
The tourism sector will contribute $16 trillion to global GDP (more than 11% of the global economy) by 2034, according to World Travel & Tourism Council estimates (WTTC) India and China will be responsible for more than 25% of all outbound travel by 2030 The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed. Inbound and outbound trips increasing fast Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030. Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility. Sports and technology Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases. To support this boom, the industry will need to expand significantly—requiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally. Risks and opportunities However, the report also flags significant risks. Travel and tourism currently accounts for 8% of global greenhouse gas emissions, a figure that without intervention could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration. Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense—but realizing this opportunity will require more than incremental change. 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.' His Excellency Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said: "This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient. 'In Saudi Arabia, we're investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.' Bob Willen, Managing Partner and Chairman at Kearney, added: 'Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit. 'The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It's about creating a travel and tourism sector that's not just bigger, but works in everyone's interests.' Notes Travel and Tourism at a Turning Point: Principles for Transformative Growth is published by the World Economic Forum in collaboration with Kearney and the Kingdom of Saudi Arabia. The report draws on global data, expert interviews and scenario modelling to set out a roadmap for a sustainable and inclusive tourism future. About Kearney Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver—value, results, impact. About the World Economic Forum The World Economic Forum, committed to improving the state of the world, is the international organization for public-private cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas. ( A bout the Ministry of Tourism of Saudi Arabia The Ministry of Tourism of Saudi Arabia, established in the year 2000, is at the forefront of transforming the Kingdom into the most attractive global destination for tourists and investors. Dedicated to realizing Saudi Arabia's ambitious Vision 2030, the Ministry focuses on long-term growth through innovative policies, strategic investments, and the development of national human capital. With a mission centered on enabling accelerated and sustainable growth, it employs data-driven strategies and integrated delivery mechanisms, all while staying true to the country's rich Arabian authenticity. The Ministry is deeply committed to sustainability, aiming to lead by example in minimizing environmental impact and promoting eco-friendly tourism practices that ensure the preservation of natural resources for future generations. By aspiring to captivate hearts and minds of global audience, the Ministry opens Saudi Arabia's doors to the world, creating a tourism sector where transformative stories are experienced daily. Having welcomed 100 million visitors in 2023, Saudi Arabia is on a steadfast journey toward its goal of 150 million visitors by 2030. As the guiding force behind Saudi Arabia's tourism sector transformation, the Ministry champions cutting-edge regulations, fosters successful collaborations and cultivates talent. This commitment positions the Kingdom to welcome the world, fueling the realization of Vision 2030 and showcasing a sustainable and vibrant future.
Yahoo
12-06-2025
- Business
- Yahoo
Trump's trade war could drag global economic growth to the lowest since the 1960s, World Bank says
The World Bank warns the 2020s may see the weakest economic growth since the 1960s. The organization cites tariffs as a major factor that could hinder global GDP growth. Restoring trade relations, reducing fiscal deficits, and boosting employment are key to raising growth. The 2020s could be the weakest decade for economic growth since the 1960s, the World Bank said in a report on Tuesday. The culprit for the potential bout of sluggish expansion? Tariffs, the organization said. "Only six months ago, a 'soft landing' appeared to be in sight: the global economy was stabilizing after an extraordinary string of calamities both natural and man-made over the past few years. That moment has passed," wrote World Bank Chief Economist Indermit Gill and Deputy Chief Economist M. Ayhan Kose in the report. The economists continued: "This year alone, our forecasts indicate the upheaval will slice nearly half a percentage point off the global gross domestic product (GDP) growth rate that had been expected at the start of the year, cutting it to 2.3 percent. That's the weakest performance in 17 years, outside of outright global recessions. By 2027, global GDP growth is expected to average just 2.5 percent in the 2020s—the slowest pace of any decade since the 1960s." Gill and Kose laid out three ways to boost growth from current projections. One would be to restore trade relations. Global GDP this year and next would be 0.2% higher if tariffs dropped by half from their May 2025 levels, the economists said. Second, governments need to rein in fiscal deficits. "In the era of easy money that preceded the COVID-19 pandemic, governments opted to take too many risks for far too long," Gill and Kose wrote. "The bill is now due: fiscal deficits so far in the 2020s have averaged nearly 6 percent in developing economies, the highest level of this century. Interest costs alone account for about a third of the deficits." Finally, governments, particularly those in developing economies, should focus on job growth. Working-age populations in regions like South Asia and sub-Saharan Africa are expected to rise by hundreds of millions, the economists said. The World Bank joins the Organization for Economic Co-operation and Development in dropping GDP forecasts. OECD now sees 1.6% growth in the US in 2025 instead of 2.6%. Federal Reserve forecasts for US GDP growth are also lackluster. The central bank's Federal Open Market Committee sees a median of 1.7% growth in 2025 and 1.8% growth in the "long run," though the projections were made before many of Trump's tariff proposals. Trump's 90-day pause of his "Liberation Day" tariffs will end on July 9. Countries have been meeting with the Trump administration to renegotiate current trade deals in an effort to avoid the proposed steep import duties on their goods. The jury is still out on how tariffs are affecting the US economy. Consumers and small businesses have reported heightened uncertainty, but the labor market has so far held up, adding 139,000 jobs in May. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
