The World Travel & Tourism Council (WTTC) is optimistic about the Philippines’ tourism industry recovery, forecasting a “rosy” outlook in its economic growth and employment generation in the next ten years.
“Looking ahead, we forecast an average annual growth rate of 6.7% over the next 10 years, exceeding the expected country’s overall economy average growth rate of just 5.6%,” WTTC President and Chief Executive Officer Julia Simpson said.
The WTTC Global Summit is considered one of the most influential Travel & Tourism events worldwide. It is an annual gathering of the entire spectrum of the industry, including airlines and airports, hotels and hospitality groups, tour operators and retail travel agents, online distributors, cruise lines, investment companies, insurance groups, and the technology industry.
On April 20, in the opening press conference of the 21st WTTC Global Summit held at the Marriott Hotel, Pasay City, Simpson also lauded the leadership of Secretary Berna Romulo-Puyat.
“Our expert analysis shows that the travel and tourism economy has turned a corner, and is firmly on the road to recovery. This growth was primarily built on domestic travels and very much pioneered and led by Secretary Bernadette,” the President and CEO said.
“We also forecast employment will grow annually by an average of 3% over the next 10 years, generating 2.9 million new jobs, accounting for 21.5% of all jobs in the Philippines”, she added.
Meanwhile, Secretary Puyat expressed her gratitude for the WTTC’s positive remarks, especially since the country has been hard at work in revitalizing the local tourism industry.
“In the nearly two years where international travel was put on hold, the Philippines has been busy preparing for the day when our country would be open to the world. We have put in place guidelines that will ensure the safety of our guests, our tourism workforce, and our community,” Puyat disclosed.
“Ultimately, through this summit, we hope to raise awareness of the full economic and social impact of travel and tourism. We also want to assure everyone, especially our foreign guests, that your safety and well being is our priority,” she emphasized.
Puyat also reassured as she addressed the media and the guests at the global summit, “We are already seeing signs of recovery, with more and more countries opening up for international travel. Your presence here signifies your commitment to rebuilding a safer, more resilient, and more sustainable tourism industry.”
In the next two days of the summit, the sessions will shed light on important topics such as the latest travel trends, sustainable investment prospects, meaningful human connections despite contactless interventions, environmental preservation, traveler confidence, seamless international mobility, and inequalities in the travel and tourism industry.