As of 2018, Shanghai, Paris and Beijing have the largest T&T economies of the cities in the study. Our Members and Partners are inspired by a sense of responsibility and a desire to contribute to a better world. Revenues from international visitors will in many cases pay for infrastructure projects, the provision of public workers and services that improve the quality of life for residents. Ethiopia’s Travel & Tourism economy grew by 48.6% in 2018, the largest of any country in the world, according to the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today. City Travel & Tourism Impact 2019 Key Highlights, City Travel & Tourism Impact 2019 Graphics Report, City Travel & Tourism Impact 2019 Extended Report, Crisis Preparedness, Management & Recovery. This gave added impetus to the group’s objectives and WTTC was established in 1990, with James Robinson III as Chairman and Geoffrey Lipman as President. Not surprisingly, therefore, nearly half of global international travel takes place in cities. One notable outcome of the meeting was that the participants received a powerful message from Henry Kissinger, which confirmed that they represented the world’s biggest industry but that it was not recognised because it was too fragmented. At the time of the first AGM in Washington in 1991, in the aftermath of the Gulf War, the Council comprised 32 Members. This is expected to reach Rs 12.68 trillion (US$194.69billion) in 2028, implying a CAGR of 7.23 percent during 2012-28. Ethiopia recorded the biggest tourism growth of any country in the world, according the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector, released last week. It evaluates the performance of 185 countries over a seven-year period (2011-17). Tourism GDP is now expected to grow by 4.0% in 2018. WTTC’s research, which quantifies the direct and total impact of Travel & Tourism on our economies in terms of GDP and employment growth, has helped to raise awareness of the economic contribution of our industry and continues to feature heavily in the media. This goal remains central to WTTC’s aims and activities. For over 30 years, we have conducted research on the economic impact of Travel & Tourism in 185 countries and issues such as overcrowding, taxation, policy making and many others. UNWTO Tourism Highlights: 2018 Edition; ISBN: 978-92-844-1987-6 This first official meeting served to determine the objectives of WTTC and the key issues to be addressed. For over 30 years, our work has been fundamental in creating change and raising the awareness of Travel & Tourism’s value, not just as one of the world’s largest economic sectors, but also to the many communities and travellers enriched through their experiences. FIGURE 6: TRAVEL & TOURISM GDP GROWTH 2018 Continued solid growth at a global level is expected across the main economic indicators of GDP contribution – job creation, investment and visitor exports. The World Travel & Tourism Council’s (WTTC) City Travel & Tourism Economic Impact Report for 2018 quantifies the economic contribution of Travel & Tourism in 73 cities around the world and highlights successful initiatives, strategies and policies that have been implemented by cities. There was no consolidated data, nor industry voice, through which to convey this message to elected officials and policy-makers. But its core mission remains the same - to raise awareness of the full economic and social impact and potential of Travel & Tourism. The right policy and investment decisions are only made with empirical evidence. Travel and tourism is a cornerstone of the global economy. The World Travel & Tourism Council (WTTC) is a forum for the travel and tourism industry. The World Travel & Tourism Council’s (WTTC) City Travel & Tourism Economic Impact Report for 2018 quantifies the economic contribution of Travel & Tourism in 73 cities around the world. Visitor exports, for example, are predicted to grow by 3.9% and investment by 4.8%. Our mission is to maximise the inclusive and sustainable growth potential of the Travel & Tourism sector by partnering with governments, destinations, communities and other stakeholders to drive economic development, create jobs, reduce poverty, security and understanding in our world. The World Travel & Tourism Council (WTTC) represents the global private sector of Travel & Tourism, with a mission to ensure the sector is seamless, secure, safe, inclusive and sustainable. These powerful partnerships enable us to drive sustainable inclusive economic developments and ensure the seamless & secure mobility of travellers. Cities which are over-reliant on domestic or international demand are more exposed to economic and geo-political risks. As a voluntary organisation, WTTC provides an important example of business leaders spending time and money to move their global activity forward while playing a pivotal role in ensuring sustainable development in our ever-changing world. Direct Travel & Tourism GDP across 73 cities grew by 3.6% in 2018, above the overall city economy growth of 3.0%. This edition also highlights successful initiatives, strategies and policies that have been implemented by cities.