ETW STAFF – Mumbai
The 13th Global Summit in Abu Dhabi is the largest gathering of any World Travel & Tourism Council (WTTC) Global Summit. David Scowsill, president and CEO of WTTC called on the global travel and tourism industry “to grasp the mantle of leadership in order to influence.”
Industry, national and world leaders – from chairmen and chief executives to presidents and government ministers – have come together in Abu Dhabi this afternoon and tomorrow (9-10 April) to discuss the industry’s responsibilities as it plans for future growth in international travel, whilst meeting its moral and commercial obligations to people, the planet and profits. The title of this year’s Global Summit is ‘A Time for Leadership’.
Over the next 10 years, travel and tourism GDP is set to grow by 4.4 per cent on average per year, outpacing growth in the wider economy and other industries, notably retail and public services. By 2023, Travel & Tourism’s total economic contribution is forecast to account for 10 per cent of global GDP, US$10.5 trillion dollars and 1 in 10 jobs. Total travel and tourism employment is forecast to increase by more than 70 million jobs over the next decade, with two-thirds of those additional jobs in Asia. Asia will continue to lead growth, with annual average growth of over 6 per cent, driven by increasing wealth among its middle classes. By 2023, WTTC forecasts that China will overtake the United States as the world’s largest Travel & Tourism economy, measured in total GDP terms and the size of the outbound market.