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Indigenous tourism to contribute USD 67 billion to global economy by 2034: WTTC

BNE News Desk , October 14, 2024
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Perth: Indigenous tourism is expected to add USD 67 billion to the global economy by 2034, according to a report from the World Travel & Tourism Council (WTTC), unveiled at its recent Global Summit in Perth, Australia. The report, Supporting Global Indigenous Tourism, highlights the key role indigenous tourism plays in promoting economic growth in remote regions while preserving cultural heritage and empowering communities.

WTTC President and CEO Julia Simpson emphasised the importance of indigenous tourism, stating that it goes beyond showcasing cultural traditions. "It’s about empowering communities, creating sustainable jobs, and ensuring Indigenous people control their own economic futures," she said.

As global demand for authentic experiences rises, Simpson stressed the need for supporting indigenous businesses with the necessary resources and funding to help them thrive. The report underlines indigenous tourism’s crucial contribution to preserving cultural heritage, languages, and traditional practices.
At the summit, WTTC also launched a new initiative, Together in Travel, aimed at supporting small and medium-sized enterprises (SMEs) in the travel sector. This platform will provide resources and tools to help SMEs grow and have a voice on the global stage.

In addition to this, WTTC shared a report showing that global business travel is set to surpass pre-pandemic levels this year, with projections of reaching USD 1.5 trillion. The rise of remote work during the pandemic had significantly impacted corporate travel, but business travel is now recovering faster than expected.
Travel intelligence firm ForwardKeys reported a strong resurgence in the global tourism industry, with international arrivals up 16% compared to 2023, driven by a revival in the Asia-Pacific region after its delayed post-pandemic reopening.

The summit also discussed Oceania’s travel and tourism sector, which could add an additional USD 112 billion to its economy by 2034, if strategic investments are made. This would bring the total contribution to a record USD 336 billion, positioning Oceania as a global leader in sustainable travel.
The event also saw the announcement of the winner of the inaugural Investors’ Nest competition, Nguyen Thao Van from VinUniversity in Vietnam, whose innovative solutions are poised to transform the future of hospitality.

The WTTC also released new environmental and social research, showing that while travel and tourism accounted for 6.7% of global emissions in 2023, this figure has decreased from 7.8% in 2019. The report highlights that the sector’s economic growth is outpacing its environmental impact.
Notable speakers at the summit included former US Secretary of State John Kerry and Australian conservationist Robert Irwin, who discussed global environmental challenges and the role tourism can play in addressing them. The WTTC also announced that the 25th Global Summit will be held in Rome in 2025.

Source-PTI