The global travel and touring industry is one that contributes immensely to global economy. In 2018, according to World Trade Organisation’s Travel and Tourism Competitiveness Index (TTCI), the industry contributed 10.4 percent of the world GDP with a corresponding contribution to employment. The industry is one that has prospect that needed more attention and commitment from all stakeholders.
According to the report, the global resurge in the middle-class and especially in Asia pointed that a vibrant industry in the future. The GDP is expected to rise by 50 percent. The report suggested that policy-makers, industry leaders and other stakeholders will have to pay closer attention to competitiveness in the industry to capture the growing market.
It advised that “while government and business actors alike will need to consider what competitiveness levers they can activate to retain or gain market share, special consideration needs to be given to sustaining tourism infrastructure, services and assets. As numbers of business and leisure travelers increase the world over, improvements in competitiveness will need to be undertaken alongside careful planning for tourism management and carrying capacity of destinations.”
It also suggested that developed infrastructure and international openness are required to boost connectivity of destinations, which allows for a greater number of travellers to visit. A favourable business environment makes it easier for Travel and Tourism businesses to operate in a country, while a skilled workforce leads to better customer service, productivity and capability to leverage increasingly vital communication and technology tools.
The outcome of the 2019 report indicated that both developing and developed nations have advanced in competitiveness, with improved scores in areas such as price competitiveness, air transport infrastructure, ICT readiness, T&T prioritization and international openness.
The report advised countries to begin to pay more attention to the role that digital demand for natural and cultural tourism might play in the increasingly global digital societies. It suggested that focus on digital would ensure that stakeholders monitor the traffic in online searches which would help to guide any unfortunate impact increased visitors might have on the industry.
“Failure to adequately address issues related to rising tourism numbers has the potential to negatively impact future competitiveness, making nations victims of their own success. Therefore, more research and data will be required to measure when competitiveness leads to diminishing returns and to understand the feedback loops which may then drive down competitiveness.”
It pointed out that the tourism industry of the future will be technology-driven and relies majorly on skilled workforces. Therefore authorities should endeavor to incorporate efforts to drive Travel and Tourism competitiveness within a holistic economic strategy that balances the near-term economic promises of the rapidly growing travel and tourism sector with consideration for the long-term resilience of its resources: human, natural and cultural.
