Tourism is one of the fastest growing industries, providing one in 11 jobs worldwide and 9% of global GDP.
Emerging destinations outside of Europe and North America have exhibited strong growth and expect to soon double the number of international tourists than those in advanced economies. Tourism companies can be pivotal in poverty reduction and economic growth in developing countries due to their catalytic effect on the development of small businesses in related production and service sectors along the tourism value chain.
Travel is ‘consumed’ on location, making its quality directly influenced by the well being of the local population and environment. Environmental and social sustainability is a necessary growth strategy for the tourism industry. By including low-income people and local communities into their value chains, tourism companies can enhance local impact while strengthening their product – a win-win situation.