World Travel and Tourism Council
Website review by Cassie Hicks Economic Development student At first glance, the World Travel and Tourism Council (WTTC) site looks like an inviting site for touists: exciting, full of information, uncluttered, and up to date. However, economic developers who look closer at this site will also find tourism-related economic issues, industry related research and statistics, and industry news and trends. Established in 1990, the Londonheadquartered World Travel and Tourism Council (WTTC) is a global forum comprising the presidents, chairpersons and CEOs of 100 of the world's foremost companies involved in the travel and tourism industry. The organization works with governments around the world, helping them realize the full economic impact of tourism. The welcome page of WTTC site states the fundamental components of its mission as raising awareness of the importance of Travel & Tourism, promoting synergies between the public and private sector, generating profit as well as protecting the natural, social and cultural environment. WTTC president Jean-Claude Baumgarten explained “Challenges come from the US slowdown and the weak dollar, higher fuel costs and concerns about climate change.
However, the continued strong expansion in emerging countries both as tourism destinations and as an increasing source of international visitors - means that the industry’s prospects remain bright into the medium term.” The website’s home page focused on providing travel news and trends such as the information stated below: Travel & Tourism is one of the industries which generate the most employment. It needs the complete understanding and support of governments and international organizations in order to realize its full potential, for the benefit of all. This industry can only grow if governments realize its real economic and social value and create the necessary infrastructure to be able to accommodate this development. Worldwide, Travel & Tourism is expected to grow at a level of 4.0 % per year over the next ten years, creating an opportunity for every country in the world to be part of this process and to share the benefits. World Travel & Tourism is expected to generate close to US$8 trillion in 2008, rising to approximately US$15 trillion over the next ten years, according to the latest Tourism Satellite Accounting (TSA) research launched March 6, 2008 by the World Travel & Tourism Council (WTTC)and its strategic partner Accenture.
I thought the best feature of this website was the interactive Tourism Satellite Accounting (TSA) Tool. This link provided a lot of key facts, at a glance, of country and regional supports. It featured a data range beginning in 1998. This tool had a lot of bells and whistles providing data such as the following:
11.0% of total exports (US$2,103 bn) in 2008, growing (in nominal terms) to US$4,174 bn (10.3% of the total) in 2018. WTTC has two large promotions posted on their website and these are certainly interesting and professional events that should generate many hits to the website. In 2003, the WTTC launched its vision statement the Blueprint for New Tourism. One way in which WTTC exemplifies that vision for New Tourism, is with the promotion of its Tourism for Tomorrow Awards. WTTC uses its website to promote the awards with a link advertising the upcoming award categories and deadlines. It also uses its site to promote its Global Travel & Tourism Summit which is a large summit to enhance the role of Travel & Tourism in developing sustainable economies and prosperous local communities. There were several other links of interest located on the website including Tourism News, Tourism Initiatives, Tourism Research, etc. Another beneficial link on the website was the WTTC download centre. This Council document resource centre provides a free download of all of WTTC's publications, research and speeches, highlighting the recent findings in Travel & Tourism industry, which are frequently the subject of questions asked by media, industry and academia.
Gross Domestic Product (GDP)
The contribution of Travel & Tourism to Gross Domestic Product (GDP) is expected to rise from 9.9% (US$5,890 bn) in 2008 to 10.5% (US$10,855 bn) by 2018.
Employment
The contribution of the Travel & Tourism economy to total employment is expected to rise from 238,277,000 jobs in 2008, 8.4% of total employment, or 1 in every 11.9 jobs to 296,252,000 jobs, 9.2% of total employment or in 1 in every 10.8 jobs by 2018.
Growth
Real GDP growth for the Travel & Tourism economy is expected to be 3.0% in 2008, down from 4.1% in 2007, but to average 4.0% per annum over the coming 10 years.
Exports
Export earnings from international visitors and tourism goods are expected to generate
WTTC works with a number of select partner organizations to raise awareness of the economic and social importance of Travel & Tourism worldwide. There was an array of website links to those partners. Lastly, the website provides a calendar of events outlining WTTC’s own events and participation in Travel & Tourism events all over the world. This is definitely a website that is very rewarding to economic developers, city planners, applied ED researchers, etc. References and further reading World Travel and Tourism Council. Retrieved November 14, 2008: http://www.wttc.org/eng/Touris m.News/ Top Tourism Website 2007. Retrieved November 15, 2008: http://wordpress.com/tag/toptourism-websites-2007/- 13k AME Info. Retrieved November 15, 2008: http://www.ameinfo.com/118750 .html Tourism Future looks bright. Retrieved November 17, 2008: http://Audioconexus.wordpress.c om/2008/03/28/tourism-futurelooks-bright/
Internet Marketing: Grow Tourism Business with Tourism CLICKS! Retrieved November 17, 2008: http://www.tourismclicks.com/rev iews.html Maktoob Business. Retrieved November 17, 2008: http://business.maktoob.com/Ne wsDetail-20070423092360WTTC_President_and_Bin_Sulaye m_review_Dubai_tourism_growth .htm
The reviewer Cassie Hicks is a graduate student with The University of Southern Mississippi’ Economic Development Executive Format Masters Program. She holds a BS in Business Administration and is a member of The Area Development Partnership (ADP), where she participated in The Leaders for a New Century program.