Commitment to Travel & Tourism pays off for China
China is one of the most successful examples of where prioritisation of Travel & Tourism in government policy has led to higher income and more jobs.
That’s the opinion of David Scowsill, president and CEO, World Travel & Tourism Council (WTTC), who lauded the Chinese government’s commitment to the industry while speaking at the Global Tourism Economy Forum (GTEF) in Macau last month (October).
In his speech Scowsill emphasised the power of Travel & Tourism to drive economic growth and create jobs and highlighted the government of the People’s Republic of China’s recognition of this.
China has constructed thousands of kilometres of high-speed rail track and more than 60 airports over the last decade and is looking to invest more than US $720 billion in the next three years to meet the demand of both domestic and international travellers.
According to WTTC research, China’s Travel & Tourism sector will grow by seven per cent per annum for the next ten years. By 2026, the sector will underpin around 10 per cent of the total Chinese economy and almost 100 million jobs.
“China is currently the second largest tourism economy in the world and is one of the fastest growing. The government plays a great role in stimulating this growth,” said Scowsill.
“We encourage the government to continue to invest in the sector and to consider implementing visa waiver schemes, which will stimulate inbound travel. The number of foreigners visiting China has remained static at approximately 55 million people for around five years.”
Scowsill also lauded Macau, the host of GTEF, arguing that the island “continues to re-invent itself as a tourist attraction, bringing on new products to ensure that guests return time and time again”.
In 2015, over 70 per cent of Macau’s economy was generated through Travel & Tourism, taking into account the sector’s indirect, direct and induced contribution.