Manfred L. V., the Chairman of the World Travel and Tourism Council, stressed the importance of diversifying investments and tourism products to ensure sustainable growth in the global travel and tourism sector. He emphasized the necessity of making tourism accessible to all demographics, rather than limiting it to high-spending tourists.
This statement was made during a panel discussion titled "Exploring Entrepreneurship, Global Impact, and the Future of the Travel and Tourism Sector," as part of Egypt's hosting of the international event for the World Travel and Tourism Council, held under the patronage of Dr. Mostafa Madbouly, with participation from Sherif Fathy and Dr. Ahmed Rostom.
Event Details
The session discussed the future of the travel and tourism industry globally, new trends in tourism markets, and the sector's role in supporting the global economy and enhancing communication between peoples. The importance of building a more resilient and sustainable sector capable of facing future challenges was also addressed.
V. pointed out that investors are the primary drivers of the tourism industry, explaining that stimulating tourism activity is directly linked to the volume and diversity of investments. He warned against excessive focus on what is known as high-value tourism, asserting that reliance solely on high-spending tourists could negatively impact tourism movement rates.
Context and Background
In recent years, the tourism sector has undergone significant transformations due to economic and social changes. It has become essential to diversify tourism offerings to meet the needs of all demographics. Additionally, low-cost tourism has become an urgent requirement to ensure the sector's sustainability.
V. called for the introduction of diverse tourism programs and packages that cater to various segments, ensuring an increase in tourist numbers and the sustainability of the sector. He praised the importance of providing low-cost tourism that is accessible to everyone.
Implications and Impact
V. emphasized the need for governments to adopt policies that support the provision of diverse pricing offers to facilitate travel movement. He clarified that the tourism sector is one of the vital sectors capable of creating job opportunities and supporting national economies.
He also discussed the impact of social media and influencers in guiding tourists' decisions, confirming that the quality of services and positive experiences within hospitality establishments contribute to building a long-term relationship between tourists and the tourist destination.
Impact on the Arab Region
V. noted the growing tourism investments in the Middle East, affirming that the region has become one of the prominent global tourist destinations. He praised Egypt for its diverse and unique tourism assets and landmarks.
This event is part of a cruise journey crossing the Suez Canal aboard the Crystal Serenity Cruise Ship, with the participation of around 300 leaders from the global travel and tourism industry, including ministers, heads of government agencies, private sector representatives, and CEOs of international tourism companies.