World Tourism Cities Federation Summit Forecasts Strong Rebound in Global Tourism Revenue by 2024

The World Tourism Cities Federation (WTCF) summit held in Wellington, New Zealand delivered an optimistic outlook for the global tourism industry, forecasting that tourism revenue will reach 139.6% of pre-pandemic 2019 levels by 2024. The WTCF report released at the summit projects global tourism revenue to total $5.8 trillion in 2024, a significant rebound from the downturn caused by the COVID-19 pandemic.

International tourist arrivals are expected to recover to 103.9% of 2019 levels this year, signaling a strong resurgence in global travel. The two-day summit, themed 'Promoting Sustainable City Tourism Innovation and Enhancement,' brought together over 400 government officials, tourism organizations, and experts from 42 countries to discuss the future of the industry.

Why this matters: The projected recovery in global tourism has significant economic implications for many countries that rely heavily on tourism revenue. The discussions at the WTCF summit on sustainable tourism practices, cultural heritage protection, and leveraging technology to enhance the tourist experience will shape the industry's future direction.

Key speakers at the summit, including Sima Hong, executive vice chair of the WTCF Council and deputy mayor of Beijing, and Wellington Mayor Tory Whanau, emphasized the need for the tourism industry to address challenges posed by technology advancements and climate change. They called for a focus on sustainable tourism practices, cultural heritage protection, and utilizing technology to provide smart, personalized experiences for tourists while ensuring their safety.

Global Tourism Cooperation: The WTCF, which currently has 246 members covering 86 countries and regions, aims to promote cooperation and development among tourism cities worldwide. The organization's growing membership reflects the global significance placed on the tourism industry as a driver of economic growth and cultural exchange.

As the world continues to navigate the post-pandemic landscape, the WTCF summit's forecasts and discussions provide a roadmap for the tourism industry's recovery and future growth. "The summit has provided a platform for tourism cities to share experiences, discuss challenges, and explore opportunities for sustainable development," said Sima Hong, highlighting the importance of international cooperation in the industry's recovery efforts.

Key Takeaways

• Global tourism revenue to reach $5.8T by 2024, 139.6% of pre-pandemic levels.
• International tourist arrivals to recover to 103.9% of 2019 levels in 2023.
• WTCF summit discussed sustainable tourism, cultural heritage, and technology-driven experiences.
• WTCF aims to promote cooperation and development among tourism cities worldwide.
• Summit provided a platform for tourism cities to share experiences and explore opportunities.