WTTC Report on Investment in Travel and Tourism
A 12-page report which notes that if travel and tourism is to grow sustainably while maintaining competitiveness it will be essential that not only must there be substantial capital investment, but that success will only be assured if there is engagement from the project inception with developers, investors, legislators, policymakers and community groups.
It is argued that destinations must adopt an effective enabling environment, with, for example, smart taxation such as that adopted in Palma de Mallorca, travel facilitation such as EU Covid-19 policies and diversification as evident in Costa Rica.
The report goes on to discuss the importance of understanding growth potential across market segments in relation to investment decisions with a series of short case studies being highlighted such as the development of hub airport facilities in Dubai and digital infrastructure such as that adopted by the Netherlands to spread (spatially and temporally) visitor activity. Short sections are devoted to the need for investment in sectors such as Wellness, Medical Tourism, Sustainable, Tourism, Adventure Tourism and Nature & Wildlife Tourism.
The report concludes with a section entitled ‘Looking Ahead’ which reinforces the need for investment to help the sector recover, with a particular focus on sustainability and inclusion.