UNWTO joins international tourism economy forum for landmark 10th Edition
![UNWTO joins international tourism economy forum for landmark 10th Edition](https://www.tornosnews.gr/en/files/UNWTO_Tourism_Regions.svg.png)
UNWTO has celebrated the 10th edition of the Global Tourism Economy Forum by strengthening its status as the bridge between tourism’s public and private sectors.
Convening around the theme of "Destination 2030: Unlocking the Power of Tourism for Business and Development", the landmark edition of the Forum brought together representatives from governments, destinations, and businesses. With UNWTO's newly released data showing a return to 82% of pre-pandemic levels of international arrivals, the Forum focused on ensuring tourism transformation advances hand-in-hand with the sector's rapid recovery.
Advancing a Joined-Up Approach
GTEF 2023 brought to the forefront the potential of the sector to balance the needs of people and the planet, while at the same time contributing to prosperity. In Macau, UNWTO emphasized the importance of public-private partnerships for delivering positive and lasting change while setting out its key priorities for the sector in the years ahead:
Investments: According to data from UNWTO and fDi Intelligence, China attracted the highest number of tourism FDI projects between 2018 and 2022, with around 15% of the total market share of the Asia and Pacific region. During this time, foreign investors announced a total of 2,415 tourism greenfield foreign direct investment (FDI) projects in the tourism cluster, with a total capital investment of USD 175.5 billion. Of these, 66 % were in hotel infrastructure, 16 % in technology and Innovation for the sector, and 9 % in tourism entertainment.
In terms of non-traditional investments, venture capital funding in travel and tourism reached USD 48 billion in the last five years (2018-2023). In this period, the sub-sectors with the highest amount of VC funding were Travel (39.85%), hospitality (24.99%), and air transportation (10%).
Education: UNWTO is working with leading Chinese academic institutions including Beijing International Studies University, the Mandarin Center, and the Hong Kong Polytechnic University to deliver online courses and give tourism workers a better professional understanding of innovation.
Partnerships: UNWTO has worked with GTEF since the first Forum. In Macau, the Organization strengthened its relationship with key partners, including the International Finance Corporation (IFC), Radisson Hotel Group, AIM Global Foundation, and with non-traditional investment entities and venture capitals such as LUAfund and Yellow River Global Capital Limited and with the fDi Intelligence from the Financial Times
UNWTO Secretary-General Zurab Pololikashvili said: "The Global Tourism Economy Forum is set to be the world's premier platform for cooperation between Governments and the private sector in the area of tourism for development. We are proud to be part of the 10th edition of the Forum and are highly encouraged by the shared determination of all participants to build a more resilient, sustainable, and inclusive tourism sector that works for everyone."
Investment and Financing for Tourism
Against the backdrop of GTEF 2023, UNWTO further advanced its work around investments and tourism, bringing its expert insights to inform high-level discussions in Macau. The 2nd World Tourism Investment & Financing Conference, organized by the Global Tourism Economy Forum (GTEF) and the Ivy Alliance in collaboration with UNWTO, provided a platform to explore the biggest challenges and opportunities for tourism investments, both in China and globally.
Within the one-day Conference, UNWTO hosted a special partner session on "Redefining Tourism Investments: from private equity to venture capital acceleration". UNWTO opened the stage, framing discussions around its vision for a new investment framework, which includes rethinking promotion and tax incentives for investors in the sector.
"Today more than ever, investing in education, innovation, technology and empowering youth through an entrepreneurial mindset need to be part of the public-private cooperation to assure the sustainable growth of the sector," says UNWTO executive Director Natalia Bayona.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
- 1) Greek Deputy Foreign Minister highlights efforts to counter brain drain
- 2) UN Tourism members promote agenda for Europe as region leads global recovery
- 3) Greek Interior Minister to visit United States and Canada on postal vote
- 4) WTTC data show Greece and Portugal lead league for growth in tourist arrivals
25/07 23:18
Greek banks and EIB join forces to enhance access to finance for mid-cap firms
25/07 23:10
Hotel occupancy in Athens reaches 75.5% during the first half of 2024
25/07 23:01
25/07 21:07
Fifty-two municipalities throughout Greece embrace digital transformation
25/07 14:22
Bank of Greece: Loans and deposits by households and institutions rise in June
24/07 23:04
St. Irene Chrysovalantou Astoria marks its Annual Festival from July 25-28
24/07 22:46
Greek Finance Ministry enforces beach regulations after 4,500 citizen complaints
24/07 21:13
Greek president organizes reception for 50th anniversary of restoration of democracy
24/07 19:53
Guards at e-ticketed ancient sites, museums announcing work stoppage Thursday
24/07 16:08
Minister: Disbursement of €2.3 billion from the loan part of the Recovery Fund
22/07 23:29
Cyprus displays in Nicosia once-looted antiquities dating back thousands of years
22/07 23:25
Greek high school students clinch 6 medals at International Math Olympiad
22/07 21:37
Greek Climate Crisis Minister meets with visiting British Minister of State for Europe
22/07 21:33
Hellenic Parliament indowntown Athens undergoes energy upgrades
22/07 18:19
Book of condolences for Nguyen Phu Trong to open at Vietnamese embassy in Athens
21/07 18:05
Sharp hike in the viral load of SARS-CoV2 in the Greek city of Thessaloniki
21/07 15:29
Events for 50-years from democracy restoration in Greece start at the Presidential Mansion
21/07 14:14
Deputy Tourism Minister: Greece can emerge as a protagonist in diving tourism
21/07 13:24
19/07 00:18
UN Tourism and TUI Care Foundation jointly support African artisans in rural areas
16/07 14:47
16/07 11:55
Very high risk of fire for nine regional units across Greece on Tuesday
15/07 23:28
AADE implements mandatory digital export notification system beginning September
15/07 23:26
Hellenic Land Cadastre to be the first Greek state service to implement AI tools
15/07 21:06
US Embassy event marking July 4th: Embracing inclusion and accessibility
15/07 19:13
Athens Municipality opens air-conditioned halls during heatwave
14/07 14:39
National Tourism Organization and Netflix ink cooperation memo to promote Greece
13/07 23:31
OECD report: Greece makes significant strides in competition strengthening
10/07 22:53
Greek-American congressmen meet Greek Prime Minister in Washington DC
10/07 22:50
Greek National Gallery's 'Democracy' looks at Southern European history and art
10/07 21:56
10/07 19:59
Cypriot President visits Athens for event on 50th anniversary of Turkish invasion
10/07 15:44
09/07 22:28
The SFGFF comes to Athens in cooperation with Feelgood Entertainment
09/07 20:34
09/07 18:30
Deal for development of Sani-Kassandra property in Chalkidiki is inked
09/07 14:57
Golf & Maritime for a Good Cause at the 10th Greek Maritime Golf Event
09/07 11:56
The Ultimate Sports Event of Santorini Experience Coming to Santorini on October 3-6
08/07 22:53
Capital Link Invest in Greece webinar series continues on July 9 and 16
08/07 22:25
08/07 20:43
New data on the burial site of Lord Byron's illegitimate daughter Allegra
08/07 15:37
German ambassador: 'To live and work in Greece has always been my dream'
05/07 22:14
Greek port of Piraeus approves distribution of highest dividend in its history
04/07 23:09
Culture Minister inaugurates renovated theater at Dion in Central Macedonia
04/07 19:17
The 43rd Thessaloniki Book Festival opens at the waterfront Friday until July 21
04/07 17:20
Piraeus Port greenlights distribution of highest dividend in its history
03/07 00:24
03/07 00:02
Hotrec reveals digital trends in tourism: Hotels, Booking.com and DMA
01/07 19:28
Higher June temperatures in Greece compared to 2010–2019 average
01/07 19:13
More firefighting aircraft to reinforce firefighting efforts in Greek island of Kos
01/07 17:26
SNF extends support for the Greek National Opera in Athens with an €11 million grant
01/07 12:31
Amendment extending duration of measures against high prices tabled in Greek Parliament
28/06 19:18
Mount Pelion steam tourist train resumes daily service beginning July 1
27/06 14:36
Minister: Mycoast app received 8,911 complaints of illegal activities on beaches
26/06 22:56
Significance of OECD anti-bribery report for Greece's good image highlighted
25/06 19:08
FTI insolvency: Operational business of hotels remains unaffected
25/06 16:19
FinMin urges Greek banks to emulate European counterparts regarding commission charges
25/06 12:12
AEGEAN elected "Best Regional Airline in Europe" at the World Airline Awards 2024
25/06 10:16
Platform for Greece's 'Thessaly & Evros Pass 2024' opens on Tuesday
23/06 14:52
State Minister: Greece is the 8th cheapest country in the European Union
22/06 22:49
Bank of Greece: Travel receipts increased by 22.0% during January-April 2024
22/06 18:11
Greek Tourism Ministry and embassies cooperate to address sector issues
22/06 18:05
Wyndham inked deal with Oikos for the first Ramada Residences in Greece
21/06 17:57
Event organized to present 'The Ilisian' - the new name of the former Athens Hilton
19/06 23:47
Greek state ten-year bond auction concluded with yield at 3.56%
19/06 23:41
Shipping Minister: Greece supports EU's efforts to modernise maritime safety rules
19/06 22:32
Culture minister reviews NSRF projects on the Greek island of Lesvos
19/06 19:41
US Ambassador to Athens applauds Greece’s comeback and investors interest
19/06 11:44
Minister: Reforms must follow investments to boost regional competitiveness
18/06 18:15
ARF 2024: US Ambassador to Athens on Greece's economic miracle
18/06 16:33
Capital Region AHEPA organizes 5th Annual Golf Outing in New York
18/06 14:58
18/06 14:24
Greek Minister refers to multiple benefits from the restoration of the Athens Riviera
18/06 13:35
Regional Governor of Attica: Greeks living abroad are the most important ambassadors
17/06 19:02
Conference focuses on Sifnos and sustainable development on Greek islands
17/06 18:56
Council of State discusses relocation of Mount Parnitha casino to Marousi again
17/06 18:56
Ministers and Super League chief talk digital tickets for upcoming soccer matches
17/06 15:59
Forecast: Very high risk of fire in two Greek regions including Attica
17/06 13:42
Passenger traffic in Greek ports records an increase of 11.1% during Q4 2023
14/06 22:58
14/06 22:03
14/06 17:58
Athens and Thessaloniki added 250 new electric buses to their urban transport networks
13/06 22:43
National Theater to perform Aristophanes at ancient Greek theaters over the summer
12/06 11:48
Athens Acropolis site closed down from 12:00 to 17:00 due to high temperatures
12/06 00:01
'Poor Things' costumes exhbition at Benaki Museum in downtown Athens
11/06 15:53
Schools in Athens to stay closed on Wednesday and Thursday due to heatwave
11/06 00:10
Greek Port Authority to acquire 11 boats for transfer of patients from remote islands
11/06 00:03
Greece's Interior Ministry issues directions for remote work during heatwave
10/06 23:45
Digital app for travellers to Greece 'mAIGreece' goes live on Monday
10/06 22:28
Greek Interior Ministry issues directions for remote work during heatwave on Tuesday-Thursday
10/06 19:38
Traffic restored on new Greek national highway leading to Corinth after truck explosion
10/06 14:42
09/06 22:47
High prices of consumer goods in Greek supermarkets are on a downward trend
09/06 11:18
UK Tourism 2024: Greece named top destination in the world with best value for money
08/06 00:22
Insolvency: FTI Touristik GmbH cancels all trips up to and including 05 July 2024
07/06 02:54
ERTFLIX International takes part in the Los Angeles Greek Film Festival
07/06 02:42
NBG: Greek tourism to break record in 2024 with 35 million arrivals and €22 billion in revenue
06/06 20:50
Greece elected to UN Security Council for 2025-26 in a 'historic day'
06/06 13:57
Hellenic National Archaeological Museum presents "The last Aphrodites" exhibition
05/06 22:00
FTI provisional insolvency admin strives for fastest possible solutions for clients
Hotel occupancy in Athens reaches 75.5% during the first half of 2024
Greek banks and EIB join forces to enhance access to finance for mid-cap firms
St. Irene Chrysovalantou Astoria marks its Annual Festival from July 25-28
Fifty-two municipalities throughout Greece embrace digital transformation
Guards at e-ticketed ancient sites, museums announcing work stoppage Thursday
Bank of Greece: Loans and deposits by households and institutions rise in June
Greek Finance Ministry enforces beach regulations after 4,500 citizen complaints
Minister: Disbursement of €2.3 billion from the loan part of the Recovery Fund
Greek president organizes reception for 50th anniversary of restoration of democracy
High risk of fire for Attica, Viotia and Evia regions in Greece on Thursday
Greece and Turkey agree to implement or reactivate CBM activity in 2024
FM: Procedures underway to repatriate 149 Greeks in Israel and Palestinian territories
Media report: Cheap airfares aren’t coming back according to airline execs
Greek Tourism minister meets with Swiss, Albanian ambassadors in Athens
Minister: Greece will continue to demand the return of the Parthenon Marbles
Greek authorities simplify storage process for vehicles with foreign license plates
PM at Axia discussion: Greece offering great investment opportunities in 2023
Bill lifting restrictions for Greeks voting from abroad greenlighted by majority vote
'Greece through the Art of the Tourist Poster' exhibition in Chengdu of China