The travel and tourism sector was one of the worst affected globally due to the COVID-19 pandemic, suffering devastating losses in GDP and employment.

As the industry looks to the future, WTTC identifies the importance of creating an effective enabling environment and introducing comprehensive incentives, including, among others, smart taxation, travel facilitation policies, diversification, innovation and use of digital technology, integration of health and hygiene protocols, effective communication and a skilled workforce.

According to WTTC, understanding future investment opportunities in the travel and tourism sector is a key factor in developing successful strategies and better understanding the growth potential of different segments. WTTC research suggests that governments and destinations encourage private sector investment in areas related to physical and digital infrastructure, health and wellness, sustainable tourism, cultural tourism and business tourism.

WTTC recommends that destinations think outside the box and be innovative to harness the industry’s full potential in the future. In this context, diversification in terms of product and service supply will further increase resilience.