Tourism is about experience! By 2033, travel and tourism is set to become a $15.5 trillion industry—accounting for more than 11.6% of the global economy. Once viewed as a leisure pursuit, tourism has transcended its recreational roots to become a potent force shaping the global economic landscape. Destinations are increasingly recognized as investment hubs, job creators, and engines of growth. Yet, as with any transformative force, vacationomics presents a compelling duality. While it unlocks immense potential, it also necessitates careful navigation. Tourism has the transformative potential to create a lasting, positive impact on local/regional economies, cities, communities, and ecosystems. However, this crucially depends on the development of essential infrastructure, local services, and skills, along with the safeguarding and promotion of natural and cultural heritage. Honored to share a World Economic Forum panel with Minister Ahmed Al Khateeb, Minister Abdulla bin Toug, my friend Jerry Inzerillo and Mrs. Aireen Omar. A conversation resulting in an opportunity to learn more about #tourism #hospitality #SpecialMeeting24 #WEF
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✈ Introducing the Q3 2023 Tourism Watch Report by the World Bank! 🌍 Our latest quarterly report on Tourism is now live, offering a comprehensive analysis of global and regional tourism sector performance, outlook, and policy insights aimed at enhancing economic, social, and environmental outcomes for developing economies and destinations. Highlights include: 🌟 Global Overview: Despite travel-related inflation, international tourist arrivals saw a robust 21.5 percent year-on-year increase, bringing the sector to 91 percent of 2019 levels. Growth rates are stabilizing as the recovery matures. 🔍 Tourism Outlook: Confidence in tourism prospects is growing as the pandemic's effects diminish, with a projected full recovery expected in 2024 (UNWTO). However, concerns around conflicts, climate events, and global economic conditions may impact traveler confidence and destinations. 📋 Special Policy Insert: Learn about effective tourism destination management strategies that can inform and support the implementation of green, resilient, and inclusive tourism policies, maximizing value for visitors. Dive into the full report to explore these insights and more: https://lnkd.in/e8wZvKtk Thank you to our dedicated team for their hard work in bringing this valuable resource to fruition! #TourismWatch #WorldBank #TourismIndustry #EconomicOutlook #PolicyInsights #SustainableTourism
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With growth comes responsibility. More and more destinations are seeking to understand the opportunities, but also costs, that come with #tourism development. An important step is to measure the wide range of changes that tourism brings for both locals and the environment. It's been great working with the Ministry of Tourism in #Greece (and other national and regional stakeholders) to discuss #sustainabletourism #indicators as part of the OECD - OCDE, and European Commission funded, TSI project. My key take-aways are: 1. Don't let the perfect be the ennemie of the good - making a start is what counts. 2. Collaboration is the path to success. That includes data sharing, coordination of analysis efforts, and effective reporting to those who will ultimately use the information. 3. Once you measure, the complexity of tourism becomes so much more visible (and hopefully somewhat easier to manage well). 4. People who work in tourism are often passionate and that makes it all worthwhile - after all tourism is about the places we love and that are special. Eva Katzer Peter Haxton (PhD) Tania Sultana Ioannis Spilanis Cheryl Novak Myron Flouris Eftychia- Christina A. KONSTANTINA TSAKOPOULOU Griffith University Griffith Institute for Tourism
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📄 New Report: OECD Tourism Trends and Policies 2024 here: https://lnkd.in/gys778VU The OECD has just released its flagship "Tourism Trends and Policies 2024" report, providing valuable insights and analysis on the state of global tourism. 🌍 Key Highlights: ✈️ Tourism has rebounded strongly post-pandemic, but the recovery is uneven across countries. 🌱 The report underscores the need for sustainable tourism development to balance economic growth with environmental and social impacts. 💼 It examines workforce challenges in the tourism sector and provides policy recommendations to tackle labor shortages. 📊 The report strengthens the evidence base for data-driven policymaking in sustainable tourism. This comprehensive report is a must-read for tourism professionals, policymakers, researchers, and anyone interested in the future of this vital industry. 📚 Don't miss out on this insightful publication from the @OECD! #TourismTrends #SustainableTourism #WorkforceDevelopment #OECDTourism #TourismPolicy #TravelIndustry
OECD Tourism Trends and Policies 2024
oecd.org
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A sharp recovery in global tourism has bolstered a resilient hospitality sector, bringing sustainability back into focus. In early July, the OECD released their 2024 Tourism Trends and Policy report, highlighting this sustained recovery and the need for sustainable management of rising tourist flows. After the pandemic's abrupt halt to six decades of growth, the industry has bounced back, with full global recovery expected by the end of 2024. See more:
Global tourism set to fully recover in 2024
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At Local Booking you're starting a journey that will change how you do marketing. It’s about developing a new way of thinking, which will help you boost your profits through careful analysis and smart strategies.
Technological developments are changing tourism value chains and the position of SMEs within them. Enabling business models to evolve, and offering new ways for SMEs to collaborate and network with potential partners is crucial. Tourism earnings should flow to the host destinations local economy not just fair but necessary.
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Brand partnership • Hotel & Hospitality Management | Food and Beverage | Guest experience | Fine dining |Butler |Concierge.
Tourism development brings with it changes that are liable to have a long-term impact on the economy, society, and culture of a country, especially the developing ones. The international community has long recognized the need for such an effort that is also environmentally sound. Concern over the environment and sustainable development has led to a backlash in the mainstream economic system against materialism and capitalism. In such a scenario, the role of business enterprises and tourism-related industries, especially hospitality and travel, is often held to be particularly important. Hence, much energy has gone into providing tourism services that contribute to consumer satisfaction while at the same time offering a low environmental impact. In a highly competitive global environment, companies are faced with the need to innovate and develop in order to survive. The question is, can sustainable development, in the form of eco-tourism, be achieved in travel and tourism-related sectors on a mass scale, or is the planning and application that is required too much given the enormity of the different types of products created or provided? Let's Discuss 🤗 ✍ 👇 #Hospitality #tourism #sdg #ecofriendly Ms. Doreen Muteteri
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Did you know tourism can significantly boost local economies? Dive into our whitepaper to uncover how tourism generates billions in economic output and supports millions of jobs. Download for in-depth insights and real-world data: https://hubs.ly/Q02vZ8WZ0 #EconomicDevelopment #Tourism #Whitepaper
Tourism Whitepaper
goldenshovelagency.com
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The Tourism Watch is a quarterly report produced by the World Bank which monitors global and regional tourism sector performance, outlook, and highlights policies aimed at enhancing the sector’s economic, social and environmental outcomes for developing economies and destinations. The series relies on real-time aviation data, official tourism statistics, consumer search trends, broader economic indicators, and other key data sources to provide a perspective on how tourism is affected by and contributing to global developments. The lede for the Q4 2023 report states: "Resilient growth caps strong year for recovery." Some regions will obviously fare better than others depending on the level of where their visitor economy was prior to COVID, what tourism sector and policy foundations they have to build upon, and what needs and issues were addressed during the pandemic's downtime (i.e., E-visas, capacity building, new supporting infrastructure, etc.). #worldbank #global #travelandtourism #recovery #resiliency #sustainability Ahmed Eiweida Louise Twining-Ward, Ph.D. Baljit (Bava) Wadhwa Sandra Carvao Patricia Carmona Redondo Lorena Villar Ana Martín Gutiérrez Peter DeBrine Johanna Devine Anna Spenceley Ivan Anthony Henares, PhD Tomeu Deya Rouran Zhang Cecilie Smith-Christensen Isabelle QUEMENER Ananya Bhattacharya Sofia Fonseca Colleen Swain Faisal Abd Rahman Frederic Dimanche, Ph.D., Toronto Metropolitan University Michael Tarnowski, MBA, CHIA France Dionne Joe Pavelka Rachel Dodds, PhD Joseph M. Cheer
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📢 Greece’s tourism model under scrutiny as over-tourism impacts escalate https://lnkd.in/eB9z-Ztj As the summer season draws to a close, the repercussions of over-tourism are starkly evident across Southern Europe, and Greece is feeling the strain. Water shortages, congested streets, and soaring housing costs are impacting locals, not just on popular islands, but even in major cities like Athens. A recent Macro Musings podcast by Kathimerini English Edition featuring Save Ios Association President, Dimitri Vayanos, delves into this critical issue. It examines Greece's heavy reliance on tourism and raises the question: Is it time for a change? We echo this call for change. We believe that sustainable tourism, which respects both the environment and local communities, is essential for the long-term health of our islands. #Greece #Tourism #SustainableTourism #Overtourism #Economy
Greece’s tourism model and the transition to a more innovative economy | eKathimerini.com
ekathimerini.com
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A sharp recovery in global tourism has bolstered a resilient hospitality sector, bringing sustainability back into focus. In early July, the OECD released their 2024 Tourism Trends and Policy report, highlighting this sustained recovery and the need for sustainable management of rising tourist flows. After the pandemic's abrupt halt to six decades of growth, the industry has bounced back, with full global recovery expected by the end of 2024. See more:
Tourism Worldwide Expected to Bounce Back Completely by 2024
savills-share.com
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