Supporting Future Journeys: The WTTC's Vision for SMEs
The World Travel & Tourism Council (WTTC) has set an ambitious goal to empower one million small and medium-sized enterprises (SMEs) in the travel sector through its Together in Travel Community. Announced at the recent WTTC Global Summit in Malta, this initiative underlines the invaluable role that independent businesses play in shaping economies and experiences in tourism.
With over 85% of global tourism businesses being SMEs, there's a significant opportunity for these enterprises to contribute even more. Research highlights that a mere 10% increase in productivity among these businesses could unlock a staggering US$63 billion in direct GDP across major economies. This emphasizes why investing in the growth and support of SMEs isn't just beneficial, but essential.
Creating Inclusive Opportunities for Everyone
During a panel discussion aptly titled “Unlocking the Power of Travel & Tourism SMEs,” industry leaders discussed strategies for fostering an inclusive environment where smaller businesses can thrive. Matthew Upchurch, Chairman & CEO of Virtuoso, emphasized the interconnectedness of large and small businesses in ensuring that every journey is enriched. He asserted, “A stronger independent business community means a stronger sector for everyone.”
A Growing Community for Shared Success
The Together in Travel initiative promises a wealth of resources, including free research, guidance, and a supportive network that can connect SMEs to invaluable opportunities. Gloria Guevara, WTTC President & CEO, encourages every independent travel business to join, saying it's about reflecting their unique needs in policy discussions on vital issues like finance and digital transformation.
Take Action and Join Together in Travel
This initiative isn't just a call to action; it's an invitation for community and connection designed specifically to elevate and strengthen those who drive local economies. As travelers seek out authentic experiences, SMEs are at the forefront, crafting the unique narratives that enhance journeys and promote sustainable practices. Join Together in Travel today - it's free and targeted at ensuring your business not only survives but thrives!
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