Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
G20 recognises T&T as driver of economic growth for the first time.
Monday, 2nd July 2012
Source : WTTC
 

The G20 world leaders have for the first time, recognised the importance of Travel & Tourism as a driver of jobs, growth and economic recovery.

The Leaders’ Declaration from the annual meeting of the G20 world leaders, held in Los Cabos, Mexico, on 18-19 June, recognizes “the role of travel and tourism as a vehicle for job creation, economic growth and development, and, while recognizing the sovereign right of States to control the entry of foreign nationals" and commits to "work towards developing travel facilitation initiatives in support of job creation, quality work, poverty reduction and global growth.”

This is the first time that Travel & Tourism has been included in the G20 Leaders’ Declaration and is the culmination of long-term efforts by the industry, led by UNWTO and WTTC, to encourage world leaders to see the potential of Travel & Tourism to create millions of new jobs and billions of dollars of GDP.

According to WTTC the industry directly will contribute $2 trillion in GDP and 100 million jobs to the global economy in 2012. When the wider economic impacts of the industry are taken into account, Travel & Tourism is forecast to contribute some $6.5 trillion to the global economy and generate 260 million jobs – or 1 in 12 of all jobs on the planet.

Research by the two organisations, released at the T20 Ministers meeting showed that G20 economies could boost their international tourist numbers by an additional 122 million, generate an extra US$ 206 billion in tourism exports and create over five million additional jobs by 2015 by improving visa processes and entry formalities.

Findings showed that of the 656 million international tourists who visited G20 countries in 2011, an estimated 110 million needed a visa, many of whom deterred from travelling by the cost, waiting time and difficulty of obtaining a visa.

Facilitating visas for these tourists, many from some of the world’s fastest growing source markets such as the BRICs, could stimulate demand, spending and ultimately create millions of new jobs in the G20 economies.

Speaking after the publication of the G20 Leaders’ Declaration, UNWTO Secretary-General, Taleb Rifai and WTTC President & CEO, David Scowsill said:

“We commend the G20 world leaders for recognising the importance of Travel & Tourism as a driver of economic growth and job creation for the first time and stand ready to support all efforts by the G20 countries in this respect. This is a significant success for the industry and could not have happened without the support of President Calderon, a leader who truly understands the socio-economic value of tourism and its potential to create new jobs in such difficult economic times, and without the commitment of Secretary Gloria Guevara, who so successfully chaired the T20 (Tourism Ministers of G20 countries) last month. Mexico is an example in marketing its extraordinary tourism destinations but also in tourism policy namely through significant advances in visa policies which encourage more inbound tourists.

“By facilitating visas, the G20 countries stand to gain five million jobs at a time of rampant unemployment across the world. These are in addition to the hundreds of millions of direct and indirect jobs already being supported every day by the sector.”

www.WTTC.org

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

 Related News  (Click title to read article)
Quarterly hotel market update: Q2 - Hong Kong, Macau & China.
Led by online channel, travel surges in China.
Benelux hotels show improvement, remain cautious.
Defining your future by place and economics.
 Latest News  (Click title to read article)
Shangri-La opens at the Bosphorus
Saturday, 18th May 2013

Today is: World Whisky Day
Saturday, 18th May 2013

Growth anticipated yet execs cite government as biggest obstacle
Friday, 17th May 2013

Australia's 'Best Jobs' finalists get ready for show time
Friday, 17th May 2013

Accelerating the jobs engines
Friday, 17th May 2013
 Latest Articles  (Click title to read article)
Brain Storming
Saturday, 18th May 2013

I, Robot Hotelier
Friday, 17th May 2013

In The Company of Women: Don't Flip The Bozo Bit
Friday, 17th May 2013

What the Hotel Industry Can Learn From 'Heads in Beds' by Jacob Tomsky
Thursday, 16th May 2013

Expedia Revs it Up with Clear Goal in Sight – To Build First Pan-Asian OTA Brand
Thursday, 16th May 2013
 Most Read News  (Click title to read article)
W to more than double Asia presence
Crazy hotels in the pipeline: under water, in a crater
The 'Twitter concierge'
The World's 50 Best Restaurants announced
W debuts in mainland China with the opening of W Guangzhou

© Copyright 4Hoteliers 2001-2013 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy