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The Three I's: Internet, Innovation & Internationalization
Over the past six decades the Tourism Industry has shown virtually uninterrupted growth despite occasional shocks. This growth has been fuelled by expansion and diversification and many destinations have turned it into a key driver of socio-economic progress. The Tourism Industry represents 9% of the world’s GDP, 1 in every 11 jobs globally and $1.5 trillion in exports, which is a 6% of the world’s exports and an impressive 30% of services exports. And this uninterrupted growth is forecasted to continue, with a 3.3% tourist arrivals increase between 2010 and 2030.
This growth is a double edged sword: the tourism industry is filled with opportunities but also great new challenges. The key challenge is the sustainability of the model: visitors won’t be attracted to travel to over-crowded destinations, and no city or area wants to be overtaken solely by tourism. Thus, the industry needs to rethink how to make destinations sustainable and seek for opportunities in new destinations. Where do these opportunities lay? How can managers and entrepreneurs tap into the forecasted growth? What are the key changes and disruptions to be aware of?
The 5th Tourism Summit, organized in collaboration with the prestigious Cornell University School of Hotel Administration, will explore the answers to these questions with industry leaders, experts and academics. This will be done through a series of panels covering the main issues affecting the future of the Tourism Industry: the rise of Asia as both a destination and an issuer of travellers, the role of digital in re-shaping the tourists’ experience, or the management and financing of new ventures in the Tourism Industry among other topics.