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Travel and Tourism: the Unstrung Heroes in Regenerating the World Economies

June 21, 2013 MICE No Comments Email Email

The second edition of the Global Tourism Economy Forum (“GTEF”), a prominent annual international tourism event which will be held at the Macau Tower Convention and Entertainment Centre from 17-19 September, 2013 has been officially announced.

Themed as ‘Regenerate our Economies: Invest in Travel and Tourism’, this edition aims at exploring how tourism can help regenerate growth in the world economies.

Different country has different economy which comes with its own challenges and strengths. Singapore being the smallest country in size within South East Asia region, has the biggest Tourism Receipt (TR) in 2012, amounting to USD 18 billion. Indonesia being the massive country in size in the region is only making USD 8.4 million from TR. What a contrast! Even with that amount of TR, Singapore can still learn something from Indonesia, and vice versa of course. GTEF facilitates such discussion, to identify the opportunities and weaknesses of each market, and accordingly what can be done to either take advantage or rectify it. This requires the involvement and commitment from all stakeholders, without limitation from the government, tourism and travel industry members, retail and medical industry players and financial community.

To promote the Forum this year, bring together top tourism leaders and experts from the banking and investment communities, and explore ways to regenerate our economies through tourism, Ms. Pansy Ho, Secretary-General of the Global Tourism Economy Forum and Vice Chairman of China Chamber of Tourism, used the platform of this year’s World Travel & Tourism Council (WTTC) Global Summit in Abu Dhabi, capital of the United Arab Emirates, to express her views on critical issues relating to regeneration of global tourism economy; and meet with other high level world travel and tourism leaders during the Summit to promote GTEF 2013. At each annual WTTC Global Summit, decision-makers from multi-international tourism corporations and leaders from around the world attend, engaging in dialogues on tackling some of the most pressing issues the tourism and travel industry is facing. Guest speakers of the 2013 WTTC Global Summit included Mr. Bill Clinton, former President of the United States.

David Scowsill, President and CEO of WTTC, pointed out the ever-increasing importance of tourism industry to global economy that it contributed US$6.6 trillion to the global economy or 9% of global economic growth last year, which accounted for 260 million jobs or 1 in 11 jobs around the world. He also predicted that “by 2023, China will overtake the United States as the world’s largest Travel & Tourism economy”, and hoped industry peers to capitalize such investment opportunities. Mr. Scowsill has been invited to the 2013 GTEF and he will join the panel discussion with heavyweight leaders and respective business executives from the global tourism industry for in-depth discussion on topics related to the regeneration of global economy by investing in travel and tourism.

This year, GTE-Forum aims at bringing together more global leaders of political and economic sectors, ministers of tourism, provincial governors and officials from China and experts from the finance and investment industries to share their ideas on how tourism-related industries has become and will continue to be the economic growth drivers amidst opportunities that have resulted from a huge myriad of consolidation, acquisitions, and new partnerships in the global markets.

The Forum serves as an Effective International Exchange Platform

With tourism being the pillar of Macau’s economy and global economic recovery, the role of this Forum is particularly significant. Expressing her gratitude to all the sectors for their support, Ms. Pansy Ho, Chairman of Global Tourism Economy Research Centre, Vice Chairman and Secretary-General of GTE-Forum, indicated that she expects the Forum to unleash its strengths as a platform of idea exchange and as a springboard for the promotion of multilateral cooperation, and the generation of more extensive development opportunities for tourism and related industries in Macau, China and other countries, aiming at driving overall economic growth.

Top tourism organizations offer continued support by hosting their own respective sessions at the Forum

This edition of GTE-Forum has a wealth of highlights, including the Ministerial Round Table, in collaboration with UNWTO, with tourism ministers of European and Asian countries speaking on the critical issue of “Travel Facilitation”; the WTTC Session: Points of View from International Private Sector Leaders and the PATA Session: Points of View from Asia Pacific Leaders, with renowned global leaders of the tourism industry proposing creative solutions to regenerate our economies; and the China’s Perspective session focusing on private enterprises of China and how the Chinese industry leaders achieve their mission of “Go Global”. This edition’s GTE-Forum is also enriched with an investment element through business-matching sessions, examining market trends and sharing investment strategies, and essentially lining up a broad range of opportunities of cooperation between source of funds and source of deals.

Mr. Shao Qiwei, Chairman of National Tourism Administration of the People’s Republic of China, Mr. Taleb Rifai, Secretary-General of World Tourism Organization (UNWTO), Mr. Michael Frenzel, Chairman of Executive Board, TUI AG and Chairman of World Travel and Tourism Council (WTTC), Mr. David Scowsill, President and CEO of World Travel and Tourism Council (WTTC) and Mr. Martin Craigs, CEO of Pacific Asia Travel Association are among the key speakers of this edition’s GTE-Forum. Accordingly, the government and/or organization to which the speakers represent have offered their continued support and to actively participate in the Forum, to ensure the current tourism and economic trend are analyzed with more effective and insightful approach.

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