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World Travel & Tourism Council

Economic potential of travel&tourism in new EU accession countries to be revealed at World Summit

The World Travel & Tourism Council (WTTC), building on its exclusive Tourism Satellite Accounting research…

The World Travel & Tourism Council (WTTC), building on its exclusive Tourism Satellite Accounting research produced by Oxford Economic Forecasting, has undertaken a groundbreaking examination of Travel & Tourism`s latent economic potential in countries that have not yet achieved their full development promise.



Findings of the new research will be revealed at a press conference at 11.30 am on 1 May at the Sheraton Hotel Doha, just prior to the start at the 4th Global Travel & Tourism Summit, taking place at the same venue.



The research will establish the main factors that are common to well-developed Travel & Tourism economies and those that are missing in various developing countries. For specific countries, it will also identify what must happen if Travel & Tourism is to achieve its full economic impact. In addition, the research will quantify the latent potential contribution of Travel & Tourism to jobs, GDP, capital investment and other key economic indicators.



The first results of this WTTC research will be presented for the European Union accession countries of Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia, which are joining the EU on 1 May 2004 as well as Bulgaria, Romania and Turkey that are candidates to join the EU at a later date. Particular emphasis will be placed on the potential for Travel & Tourism job creation and the new data will provide fresh insights and new options to assist policy makers to be more targeted in their approach. It will also address the question of labour migration from the new member states to the established members of the EU.



Jean-Claude Baumgarten, WTTC President said: Travel & Tourism merits the serious attention of governments, as it is unique in the way it is consistently growing and has the power to shift wealth form the haves to the have-nots. This new research will help policy makers in those countries that have not fully exploited the opportunities offered by the Travel & Tourism, to quantify the benefits the sector could have on their national economies.

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