The World Travel & Tourism Council recently released research showing how oil-dependent countries can benefit from diversifying their economies through travel and tourism. The report states low oil prices will result in an increase in travel in coming months, and points to oil-dependent countries that have already boosted their income through tourism, with the United Arab Emirates the leading example. Other similar countries to invest in tourism in the last three years and see significant growth include Azerbaijan, Colombia, Qatar and Saudi Arabia.
“Travel and tourism is hugely important to the global economy, as it contributes $7.2 trillion, which is 9.8 per cent of GDP. WTTC encourages oil-dependent countries to recognize the potential our sector can bring to their economies, especially in the current situation where income from oil export is declining. It should also be recognized that the sector is a tremendous stimulator of employment, supporting over 284 million jobs worldwide,” said David Scowsill, president and CEO, WTTC.
Read This Next
Introducing
FX Excursions
FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.
#globility
Insta FeedDaily
Apr 26, 2024Jamaica Gears Up for Summer with New Hotels and Experiences
Just in time for summer, Jamaica is easier to enjoy than ever thanks to new hotels and excursions. This Caribbean island has never been more alive than this year, and this summer is to be its best one yet.
Sponsored Content
Hotel Indigo: The World’s Neighborhood Hotel
Part of the IHG Luxury & Lifestyle portfolio, Hotel Indigo is the world’s neighborhood hotel that celebrates how guests can discover, or rediscover, some of the most inspiring and culturally rich neighborhoods around the world. When staying at a Hotel Indigo hotel, it's not just about visiting a place — it's about being fully immersed in the neighborhood and wanting to take a little bit of it home. When traveling for business, Hotel Indigo offers a unique experience tailored to each location, making it the perfect choice to stay while traveling for work. With IHG Business Edge, travel managers have exclusive access to enticing perks, comprehensive travel metrics and carefully curated educational resources. It also includes a guaranteed discount on both business and personal travel for managers and employees, alongside an automatic upgrade to IHG One Rewards Silver Elite status after the initial IHG Business Edge stay.
Daily
Apr 25, 2024Former Massachusetts Glasses Factory Transforms into New Hotel
In the late 1800s, eyeglass manufacturer George Washington Wells became the founder and owner of the largest eyeglass company in the town by merging with several smaller lens manufacturers in Southbridge, Massachusetts. By the early 1900s, Wells was running the largest eyeglass manufacturing company in the world, owning several factories in Southbridge and occupying more than 80 acres on both sides of the Quinebaug River. It was called the American Optical Company, known locally in town as “AO.”
Daily
Apr 25, 2024This Travel Operator Brings You to an Active Icelandic Volcano
Recently, Iceland has gained the attention of several travel enthusiasts due to recent media coverage showcasing epic lava flows and bursts of white ash smoke. For those wishing to see this in person, Abercrombie & Kent released guided tours and itineraries to Beerenberg Volcano, one of the northernmost active volcanoes in the world.
Sponsored Content
Tips to Plan a Destination Event Worth the Trip
It's time to shake things up and inject some serious excitement into your next gathering. Whether planning a corporate conference, black-tie gala or milestone celebration, choosing the right venue can make all the difference. City Winery shares some tips to make your next gathering a rockin' success.
Daily
Apr 25, 2024Hôtel Royal Unveils evian SPA, the First in Europe
Hôtel Royal Evian Resort, France, recently debuted its all-new evian SPA, the only one in Europe and inspired by the water cycle found in nature.
Fairfield by Marriott Phnom Penh Review
eFlyer Reviews
Apr 24, 2024Wolf by Vanderpump Opens at Harveys Lake Tahoe
Daily
Apr 24, 2024eFlyer Lead
Apr 24, 2024Is California Set to Ban Clear?
A new California bill recently proposed banning security screening company Clear from operating at California airports. The bill targets companies like Clear that let passengers pay to pass through security ahead of other passengers.
Sponsored Content
Reconnecting the World: GBTA Convention 2023 Spotlights the Vital Role of Business Travel and In-Person Connection
In an increasingly digital and interconnected world, the Global Business Travel Association (GBTA) Convention remains an indispensable platform for business travel industry professionals seeking to make the most of the power of face-to-face connections. Taking place August 13–15 in Dallas, the 2023 GBTA Convention provides the unique opportunity for professionals and companies to join visionaries, thought leaders and industry experts for meaningful networking, cutting-edge insights and inspiring innovation.
Daily
Apr 24, 2024Four Seasons Yachts Unveils Inaugural Itineraries
Four Seasons Yachts prepares for its inaugural season by unveiling the first 10 of its unique voyages in the Caribbean and Mediterranean.
ShareThis