WTTC bullish on economic recovery of tourism in the Philippines
The World Travel & Tourism Council (WTTC) is bullish on the prospect of the Philippines’ tourism industry recovery, projecting a rosy outlook in terms of economic growth and employment generation in the next 10 years.
In the opening press conference of the 21st WTTC Global Summit held at the Marriott Hotel, Pasay City, WTTC President and Chief Executive Officer Julia Simpson lauded the leadership of Secretary Berna Romulo-Puyat for her continuous efforts to revitalise the tourism industry of the Philippines, which has been steadily recovering in spite of the ongoing global health concern.
“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 added.
“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%,” said Simpson.
“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 shared.
“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 andwell-being is our priority,” the Tourism Secretary emphasised.
Addressing the media and guests at the global summit, Puyat reassured, “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.”
Considered as one of the most influential Travel & Tourism events worldwide, the WTTC Global Summit 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.
In the next two days, the sessions will shed light on important topics such as the latest travel trends, sustainable investment prospects, and meaningful human connections despite contactless interventions, environmental preservation, traveller confidence, seamless international mobility, and inequalities in the travel and tourism industry.