I returned a few days ago from the annual World Travel & Tourism Council (WTTC) Summit in Brazil.   The WTTC plays a leadership role in raising awareness of the travel and tourism industry and its importance to the global economy.  Members include the CEOs of about 100 of the world’s leading travel and tourism companies.  You can learn more about the WTTC by clicking here.

As you can imagine, we had a lot of issues to discuss: the state of the travel economy, the impact of the swine flu virus, the ability of travel and tourism to stimulate economic growth, building public/private partnerships, and much more.  It was also an opportunity to share ideas for developing the travel and tourism business in Brazil, which has huge potential as an international destination.

The Summit is also a big networking event.  It’s not often that we have so many industry leaders in one place, so it’s a great place to meet with customers, suppliers, partners and government officials to discuss the key issues facing our industry – and, of course, talk about potential business opportunities. Continue »

In my last post, I wrote about the need for the U.S. to do more at the national level to promote travel and tourism.   But some in Congress appear to be more intent on discouraging travel – business travel in particular.

The target of their ire is travel by companies receiving emergency federal loans.  The problem is that the impact of their declarations hasn’t been limited to the companies in the financial services industry that are receiving government assistance.  It is also discouraging responsible business travel as companies seek to avoid the perception that they’re being extravagant in their travel decisions.  This is damaging an industry already in a deep recession.

According to the U.S. Travel Association, meetings, events and incentive travel generate $101 billion in spending, $16 billion in taxes and one million jobs annually.  Business-related travel overall generates $240 billion in spending, $39 billion in taxes and 2.4 million jobs. Continue »

Economic stimulus has been the talk of Washington – and the world – for the past several weeks.  But one subject has been missing from the discussion so far: the stimulative potential of travel and tourism.

Consider some statistics:

• The World Travel & Tourism Council (WTTC) estimates that travel and tourism generated (directly and indirectly) nearly $6 billion in global economic activity in 2008 – about 10% of worldwide GDP.
• The travel and tourism economy contributes more than 238 million jobs – more than 8% of total employment (WTTC)
• According to the UN World Tourism Organization, 75 countries earn at least $1 billion a year from travel and tourism.

There are more facts and figures here at the WTTC web site.

Even though travel and tourism have declined during the global economic crisis, they remain huge engines of economic growth.  In a downturn, it makes more sense than ever to invest in promoting tourism.  Yet the United States, with more than $1.4 trillion in travel and tourism GDP (WTTC), does not have an organization with this responsibility at the national level.  It’s one of the few developed nations without one. Continue »

One of the most interesting trends in business in the past decade or so has been the growing importance of corporate social responsibility (CSR).  Companies are no longer expected just to earn a profit.  We’re also judged on what kind of contribution we make to the world around us.  And by contribution, I’m talking about more than traditional corporate philanthropy.  It’s also about doing our part to help address social, economic and environmental challenges – not at the expense of our business, of course, but as part of making our companies and communities stronger.

The challenges have never been greater.  The global economic crisis has deepened the needs of communities around the world.  Government can help by stimulating economic activity and reinforcing social safety nets.  But the scale of the problem is too great for government alone.  Communities also need the support of businesses and individual employees, working hand-in-hand with local organizations.

I saw a lot of that with our own employees over the holidays.  Many of them substituted community service projects for their traditional holiday celebrations.  Like employees at other companies, they identified a need and acted on it, contributing their own time and money.   They’re demonstrating that individuals and teams of employees – encouraged and supported by their companies – can have an enormous impact on community needs.

Corporate social responsibility, of course, requires more than a focus on immediate needs.  It has to be balanced between today and tomorrow.  Such key issues as sustainability, education and economic development require a long-term view and a long-term commitment – as well as long-term partnerships with other organizations and institutions. Continue »