WTTC Summit opens in Madrid: Europe – A disruptive region?

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Written by Linda Hohnholz

The global WTTC (World Travel and Tourism Council) Summit opened at 1400 hours in Madrid today with delegates and tourism leaders from around the globe attending. Nick Ross was the Summit Anchor.

The global WTTC (World Travel and Tourism Council) Summit opened at 1400 hours in Madrid today with delegates and tourism leaders from around the globe attending. Nick Ross was the Summit Anchor.

UNWTO Secretary General Taleb Rifai pointed out in his opening address: “Tourism is the force and power that brings the world together and beyond.”

David Scowsill, CEO of WTTC, urges industry to come together to embrace disruption and reinvent industry together.

WTTC predicts travel industry to grow faster than global economy this year (3.7% v 2.9%) to reach 10% of global GDP

The first session was about Drivers of Disruption and some of the disruptive forces challenging the sector today โ€“ including political risk and security, climate change and health, and new fast-paced investment environments.

Richard Fenning, CEO, Control Risks gave an excellent summary of the current world situation. Saying on the Ukrainian/ Russian situation, he urged for all parties to honor the Minsk agreement, warned about the Islamic State situation specifically in Syria, but said:
Once in a liftetime there is achance to make peace with Iran. This opportunity could redesign the Middle East and shift the power house of the Middle East from Saudi Arabia to Iran.

The greatest risk to the world economy now is the inability of the Chinese government to manage its slowdown in growth.

Overall Mr. Flenning summarized: The world has never been safer, no matter what you think.

Julie Meyer, CEO, Ariadne Capital followed with her short presentation.

Three out of 6 expected Industry leaders summarized their worries and disruptions. a short two minute presentatio came from
Doug Anderson, President & CEO, Carlson Wagonlit Travel
Chen Feng, Chairman of the Board, HNA Group
Jeff Rutledge, CEO, AIG Travel

Travelers are viewed less loyal, the 277 million employees in the travel industry must take care of customers, the EURO crisis has challenges and opportunities for the travel and tourism business. Corporate travel and meetings may be more difficult to get approved in company board rooms. The shift in the global landscape, terrorism, safety and security has a cruicial part in planning for business leaders like Carlson Wagon Lit Travel. Embrace the disruptors and listen to your customers was the overall summary by Doug Anderson.

The keynote speaker was Josรฉ Manuel Barroso, President (2004-2014), European Commission. He spoke on a Disruptive European Union?

At the end of his presentation the majority (38%) of those attending the summit predicted with Mr. Barroso, Europe would become more unified not more fragmented.

Feedback from the audience includes a tweet from ICTP president Geoffrey Lipman: WTTC opening of Summit ….15 speakers on disruption and change & not one serious reference to climate adaptation. All growth no impacts

Another tweet by JM Barroso: Europe is resilient. Growth is small but sustainable.

About the author

Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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