Next Stop: The Nexus of Tourism with Foreign Direct Investment.
The textbook definition of FDI flows: politically stable environment, favorable regulatory conditions around property rights and business setups, and macroeconomic stability are key considerations for attracting FDI.
One would ask whether there is a causal relationship between FDI and the tourism sector.
The simple answer is Yes.
It is one way for emerging economies to develop and promote there tourism sector.
Developed economies strengten there local infrastructure development programmes, natural environment conservation and preservation to cultural assets and heritage sites; over and above revenue boost, reducing unemployment, #technology investment and industrialization.
The tourism sector is a trillion dollar industry: we could delve into the following topics:
1. Location centric: Countries that boast the most tourism friendly destinations.
2. Is #ESG and global climate agenda driving a certain shift in tourism patterns and behaviors?
3. The Fifth Industrial Revolution, or 5IR and its impact on human–machine collaborations, coupled with globalization and multiple stakeholders [society, environment, employees, customers and organizations].
According to the World Travel & Tourism Council's latest annual research shows:
- In 2023, the Travel & Tourism sector contributed 9.1% to the global GDP; an increase of 23.2% from 2022 and only 4.1% below the 2019 level.
- In 2023, there were 27 million new jobs, representing a 9.1% increase compared to 2022, and only 1.4% below the 2019 level.
- Domestic visitor spending rose by 18.1% in 2023, surpassing the 2019 level.
- International visitor spending registered a 33.1% jump in 2023.
Emirates welcomed His Highness Sheikh Ahmed bin Saeed Al Maktoum to its stand during the opening of Arabian Travel Market, where he was given a tour of the airline's latest products, including its popular Premium Economy seat.
VIP Flight Attendant
3w🙌🏻