WTTC launches initiative to support one million tourism SMEs
The World Travel & Tourism Council aims to help one million small and medium-sized tourism businesses via its new Together in Travel Community, backed by a partnership with the International Chamber of Commerce and a free support platform.
The World Travel & Tourism Council has launched an initiative to support one million tourism SMEs. The ambition for the Together in Travel Community was announced at the WTTC Global Summit in Malta, which was attended by more than 1,000 delegates, including over 200 leading industry CEOs and government leaders.
Partnership with ICC formalised
This initiative is backed by a formal partnership with the International Chamber of Commerce. A memorandum of understanding between WTTC and the ICC was signed in Paris on October 2. Julian Kassum, Deputy Secretary General of the ICC, is involved in the collaboration.
Initiative focuses on SME growth enablers
The WTTC-ICC collaboration will focus on research, knowledge sharing, business engagement, and policy advocacy for tourism SMEs. Summit discussions addressed the technological, environmental, and economic changes affecting these businesses. Industry leaders explored ways to improve access to skills, finance, and digital tools. The conversation also focused on strengthening collaboration between governments, destinations, and the private sector.
Gloria Guevara, President & CEO of WTTC, emphasized the sector's importance. "Small and medium-sized businesses are central to Travel & Tourism," she said. "They create distinctive experiences, sustain communities and help spread the benefits of tourism."
Free platform under development
A core component of the initiative is a free digital platform currently in development. This platform will offer industry insights, best practices, and educational resources. It will also provide opportunities for SMEs to connect with peers and industry experts.
Research highlights SME economic impact
WTTC the critical economic role of SMEs, which account for more than 85% of tourism businesses worldwide. The council is examining challenges facing these businesses through a study by GSIQ involving more than 800 business leaders across seven markets. The research highlights massive potential gains from improving SME productivity.
| Productivity Increase | Potential Direct Travel & Tourism GDP Gain |
|---|---|
| 5% | US$31 billion |
| 10% | US$63 billion across eight major economies |
The Together in Travel initiative is chaired by Matthew Upchurch, Chairman and CEO of Virtuoso. Andrea Grisdale, CEO & Sole Founder of IC Bellagio, also participated in related summit discussions. The program is now developing its free platform to bring together trusted content, best practice, resources, and networking opportunities.
