Over the past decades, the Global Tourism Industry has shown practically uninterrupted growth despite economic uncertainties and even unforeseen market turmoil. This growth has generated far-reaching benefits to several developed and developing economies and societies across the globe. It has enriched countries with investments, foreign exchange earnings, job opportunities enabling social inclusion and regional development. According to the UNWTO, international tourist arrivals stood at 1.3 billion in 2017 and it is forecasted that the movement of people across the globe will reach 1.8 billion by 2030. In 2017, the Travel and Tourism industry generated US$ 1.3 trillion and accounted for 109 million jobs worldwide. From the wider direct and indirect perspectives, the sector contributed US$ 7.6 trillion to the global economy and supported nearly 300 million jobs in 2017. This was equal to 10.2% of the world’s GDP and approximately to 1 out of every 10 jobs.
However, this growth is a double-edged sword – the tourism industry is full of opportunities but also involves adapting to continuously evolving new challenges. With increasing global competition, every destination needs to be constantly learning and reinventing itself in order to maintain its sustainability and dynamism. There is a constant, ongoing need to identify and explore growing outbound tourism markets and tap into emerging opportunities. It is also essential to focus on unique selling points which have enabled destinations to single out by offering unconventional tourism experience. Social media and e-marketing tools have also reshaped the operations of the whole tourism industry.
These factors are the forerunners of massive investment and new business opportunities for developed countries, emerging economies and also for regions that are relatively untapped, like Africa, as well as island destinations which will gain in popularity and will likely be more fashionable in the years to come.
Think Tourism 360°
The International Tourism & Investment Conference (ITIC) has been designed to stand out as a sought-after platform to stimulate a new thought process focusing on key global issues impacting positively or negatively on the industry. It may also herald a new vision and new perspectives for tourism as the powerhouse for future economic growth and investment for wealth and job creation through innovation and global value chain. As tourism gathers greater momentum among travellers, ITIC will also address the concerns and challenges facing destinations worldwide – geographic locations, connectivity, capacity building, infrastructure, human capital, resources, safety and security, amongst others. These are areas bearing potentials for investment based on proper planning, development strategies through a blend of global networking and concerted local actions.
Tourism Investment Platform
The Conference will provide a platform to drive international awareness and investment into the tourism sector and it will also act as a catalyst for inclusive growth. ITIC will therefore add value to the efforts of tourist destinations by assisting in translating their vision, objectives and development strategies into bankable project Initiatives. Delegates will have the opportunity to participate in high level group discussions, networking and PR with policy makers, private sector stakeholders, private equity firms, funding agencies, high-net worth investors, bankers, fund managers, tourism experts, business innovators and influencers, who have the power to channel capital and raise funds by using London as the prime financial hub for investment. One of the key factors will be to explore investment opportunities in green tourism projects in Africa with the aim of reducing emissions and building a climate-resilient future, while at the same time minimizing negative impacts on the local environment. Investors across the world are becoming more concerned about these issues asking for more transparency before investing their money in projects.
ITIC will give visibility to leading industry entities and emerging destinations in their policy orientation by pairing specific tourism strategies with investment solutions, thus acting as a catalyst and an engine for inclusive growth and sustainable economic development.