Investing in Travel & Tourism
The World Travel & Tourism Council (WTTC) released a report with recommendations to accelerate the recovery of investment in the travel and tourism sector, providing information on key trends, priorities and opportunities that will enable the reactivation of tourism investment and grow the activity.
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.
According to EY, digital is forcing organizations to rethink traditional business models and adopt an agile approach to their talent strategies. A wave of technology is helping to reinvent the workplace and enable performance above and beyond previous capabilities.
The 15th edition of the Deloitte Hotel Atlas, a report that analyses the supply of accommodation in Portugal in 2019 and its distribution in the territory, describes the positive evolution of the country in terms of hotel supply and demand, in a year described by investors as peak investment.
The World Travel & Tourism Council (WTTC) shares best practices and recommendations for adopting innovative digital technologies to enable seamless travel and stays.
Horwath HTL has published a market report on the Portuguese hotel industry, in which it anticipates, despite the downturn in tourism activity, a firm expectation of recovery as a result of Portugal’s international image as a sustainable and safe tourist destination.