2023年旅游业投资报告（英）

TOURISM

INVESTMENT

2023Global

greenfield

investment

trends

in

tourismInassociationwithOut

now:

The

fDi

Report

2023Global

greenfield

investment

trendsThe

fDi

Report

2023

istheannual

assessment

of

crossborder

investment,based

on

datafrom

fDi

Markets–

a

service

from

the

FinancialTimes.Key

foreign

direct

investment

trends

spotted

include:•

Fora

4th

yearrunning,the

renewable

energy

sectorhasattracted

the

highesttotalcapitalinvestmentglobally•

Inbound

FDI

for

China

declined

further

in

2022.

Compared

to

2019,the

number

of

projects

into

Chinalast

year

were

down

60%•

Following

Russia’s

invasion

of

Ukraine

in

early

2022,

the

number

ofannounced

FDIprojects

into

Russia

plummeted

toonly

13Download

your

free

copy

of

the

report:/fdi/report2023TOURISM

INVESTMENT

2023

EDITOR’SCOMMENT3Nowthat

tourism

isbouncing

back,

sustainabilitymust

bethepriorityTheglobaltourismsectorcanlookatthefiguresinthisreportwithasenseofrelief.Internationalarrivalshavebouncedback—theyarenotquiteyetatpre-Covidlevels,buttherecoverymomentumhasbuiltup.Andthereismoregoodnews:greenfieldforeigndirectinvestment(FDI)intothetourismsectorisshowingsignsoflifeaffectedtourismflowsacrossthewholeAsia-Pacificregion,whereIffacemasksandlockdownareafadingmemory,therealityofclimatechangeisaspalpableasever.

Wildfires,triggeredbyextremehightemperaturesasmuchasbyrecklessarson,havebeenravagingtouristdestinationsacrosstheMediterranean,leavingthousandsoftouristsstranded.MajortouristiccitieslikeRomehavesetinmotionemergencyprotocolstoclosemainattractionsduringheatwaves.Meanwhile,intheSanBlasarchipelago,atropicalparadiseinPanamathatishometoindigenousKunapeopleandafewboutiquehotels,awholeislandcommunityof300familiesisbeingmovedtothemainlandbecauseofrisingsealevels.Thesearejustafewexamplesofhowclimatechangeisdisruptingtourismhotspots,butthelistismuchlonger.Theclimateshockcallsforimmediateclimateresilienceactiontolimitthedamageasmuchaspossible.Assertiveagendasatnationalandlocallevelsarealsoneededtosecuresustainabilityinthelong-term.Theywillinevitablyaffecttourismtoo,andthewaywealltravelandspendoursparetime.Ifanything,theCovid–19pandemicgavepolicymakersachancetogobacktothedrawingroomandbetterincorporatesustainabilityandnet-zeroapproachestotheirdevelopmentstrategies.Thetourismecosystem,whichisamajorsourceofwealthandemploymenttheworldover,

hasakeyroletoplayinshapingthesepoliciesandreducingitsenvironmentalfootprint.Itisnotonlyaboutitsownsurvival.Itisaboutourownsurvival.arrivalsremainfarbelowpre-pandemiclevels(–46%year-on-yearinthefirstquarterof2023,butbouncingbackattremendouspace).Foreigninvestorshavefinallystartednavigatingthenuancesoftheglobaltourismrecovery.Althoughcapitalexpenditurefigureshaveyettorecover,theyannounced21%moreprojectsinthetourismclusterin2022thantheydidinthepreviousyear,asshownbytheanalysisthatfollowsinthisreport,whichisbasedonfDi

IntelligenceproprietarydatabaseofgreenfieldFDIprojects,fDi

Markets.ThenumberofjobscreatedbyFDIprojectsbouncedbacktoo.Thatmarksacleardeparturefromthelowsof2020and2021,wheninvestmentactivityinthetourismclusteralmostevaporated,comingoffrecordyearsin2018and2019.Ifwelookatthedataatamoregranularlevel,foreigninvestorshavefavouredcountriesthathavebeenquicktobounceback,suchastheDominicanRepublicandtheUAE.afterallbutvanishinginthepandemicyears.WithCovid–19behindus,theindustryhasnotimetowasteinaddressingthebiggestchallengeofourtimes:climatechangeandtheresultingsustainabilityimperative.Onceagain,fDi

IntelligencehasteamedupwiththeWorldTourism

OrganizationoftheUnitedNations(UNWTO)tolookatthecurrentstateoftheglobaltourismclusterthroughthelensofinternationalarrivalsandgreenfieldFDI.As

mentioned,international

tourism

arrivals

are

not

quite

thereyet,

butthey

are

comingback.

They

more

thandoubledgloballyfrom

2021

to2022,

reducing

thegapwithpre-Covidlevels

to34.3%.Therecovery

picked

upfurtherinthefirstquarter

of2023,

whenthegapnarrowed

furtherdownto

20.4%,

UNWTO

data

shows.Butthisrecoveryisverynuanced.TheMiddleEastisthebrightspot,beingtheonlyregionwherearrivalsinthefirstquarterof2023exceededthoseofthesameperiodof2019(+15.4%)

astheForeigninvestorshavelight-touchapproachtolockdownsandtravelrestrictionsofmany

finallystartednavigatingthenuancesoftheglobaltourismrecoverygovernmentsintheregionsetthesceneforaquickcomeback.PolicymakersinChinatookaverydifferentapproach,leavinginplacedraconianzero-Covidrulesuntilearly2023.Inevitably,thisJacopoDettoniiseditor-in-chiefoffDi

Intelligence,theFinancialTimes’sspecialistunitdedicatedtoforeigndirectinvestmentTOURISM

INVESTMENT

2023

GLOBAL

OVERVIEW4GlobaloverviewTOP

10COUNTRIESFORTOURISMFDIPROJECTS2018–2022TOURISMFDIGLOBALLY2018–2022TOP

10COUNTRIESFORTOURISMFDIPROJECTS2018–2022YearCapital

investment($bn)*74.560.918.211.6Destination

countryTotal201820192020202120220–33100–132133–165166–198•Foreigninvestorsannouncedatotalof2415

foreigndirectinvestment(FDI)projectsinthetourismclusterbetween2018and2022accordingtofDi

Markets,thegreenfieldinvestmentmonitoroftheFinancial

Times.Theseprojectsinvolvedatotalcapitalinvestmentof$175.5bnandcreatedanestimated388,000jobs.US1981601331331141059634–6667–99UKSpainGermanyUAE10.2Source:

fDi

Markets

()*Estimatesincluded•Whileinternationaltravelcontinuestoreboundfromthecoronaviruspandemic,thenumberofgreenfieldforeigndirectinvestment(FDI)projectsinthetourismclusterstarteditstentativerecoveryin2022afterpostingdeclinesinboth2020and2021.MexicoFranceChinaPortugal7958FRANCE96Japan57Source:

fDi

Markets

()•FDIprojectnumbersandjobcreationinthetourismclustergrewby23%from286investmentsin2021to352in2022.JobcreationintourismFDIovertheperiodalsoincreasedby23%toanestimated36,400in2022.UK160GERMANY133JAPAN57US198CHINA79•Thesectorentered2020offthebackofaverystrongFDIperformancein2019,with753greenfieldprojectsannounced—a5.8%increasefrom2018andthepeakyearfortourismprojectssincefDi

Marketsbeganrecordingdatain2003.UAE114PORTUGAL58•AsoneoftheareasofFDImostaffectedbythecoronaviruspandemic,tourismhastakenalongtimetorecoverfromtheinitialshockof2020—whenthesectorexperienceda59%year-on-yeardecreaseinthenumberofprojects,droppingto312.Capitalinvestmentinthesectoralsoexperienceda70%decrease,withestimatedcapitalinvestmentdroppingfrom$60.9bn

to$18.2bn.MEXICO105SPAIN133•TheleadingdestinationregionfortourismFDIprojectsin2022wasWesternEuropewith143announcedinvestmentsatacombinedestimatedvalueof$2.2bn.Source:fDi

Markets()TOURISM

INVESTMENT

2023

GLOBAL

OVERVIEW5TOURISMFDIGLOBALLY

2018–2022(PROJECTSANDJOBS)LOCATION

OFGLOBALFDIPROJECTS2018–2022Facts

and

figuresProjectsJobs*The

US

wasthelargestrecipientoftourismFDIbetween2018and2022with198projects,followedbytheUK(160),Spain(133)andGermany(133).150000800700600500400300200The

top

10

countriesfortourismFDIattractionaccountedfornearlyhalf(47%)

ofallannouncedtourismprojectsgloballybetween2018and2022.1200009000060000300000Capital

investment

inthesectortotalled$175.5bnbetween2018and2022withSpainbeingtheleadingrecipient($19.4bn),followedbyChina($11.5bn)andthePhilippines($11.1bn).8.2%6.6%5.5%5.5%4.7%4.3%4.0%USUKSpainGermanyUAEJob

creation

intourismFDIwashighestinMexicobetween2018and2022withanestimated31,000jobscreatedinthesector,followedbyChina(22,130)andSpain(20,590).MexicoFrance3.3%2.4%2.4%53%ChinaPortugalJapanOther20182019202020212022Total

projectsTotal

jobs*2415

387,964Source:

fDi

Markets

()Source:

fDi

Markets

()*EstimatesincludedTOURISM

INVESTMENT

2023

INTERNATIONALTOURISTARRIVALS6International

tourist

arrivalsINTERNATIONALTOURISTARRIVALS

BY

R(

SEUGBI

O)

RNE

IGNI

O2

N0

2,

200–

21

60–2220*

2

0ShareChange2023

Monthly/

quarterly

data%

ChangeKey

statsInternationaltouristarrivalsbyregionin2022(million)2020(%)2022*10056.243.861.87.4(%)2023

versus

2022*2023

versus

2019Q1

Jan

Feb–20.4

–22.0

–20.1

–19.320214562442122022*96321/19–68.9–68.6–69.2–59.0–73.8–57.2–62.7–54.3–58.1–93.1–93.6–97.6–95.7–70.5–62.8–61.122*/19–34.3–30.4–38.8–20.1–14.4–18.4–41.2–12.3–18.3–72.1–88.7–66.2–61.4–17.9Q1869083Jan12112611681Feb8687Mar6570MarWorld407World963mAdvancedeconomies¹

221541–18.4–21–18–22–9.2–8.1–7.1–16Europe594.5mEmergingeconomies¹Europe1864228559–22.4

–23–22239.6

304.9594.571.7524737–9.6–9.2–8.4–27.80.6–8.5–11.1–6.3–10.8–8.4–11.2–26.3–3.1NorthernEuropeWesternEurope23.783.521.987.756.3138.9225.924.810.93.373151887237Americas155.6m167.488.7266.7440.6100.519.217.49.25754404432Central/EasternEurope

4428.6

–28.7Southern/Medit.Eur.-ofwhichEU–27Asia–PacificNorth-EastAsiaSouth-EastAsiaOceania88.4182.759.120.325.53.627.745.810.42.075394.21.2Asia-Pacific100.5m864937–7.7–6.4–6.8–9.4474503538414496474412603–46.0

–49.9

–45.2

–43.1–64.5

–72.0

–64.6

–57.446.96.74.9–32.3

–34.3

–33.6–29.1–40.1

–36.6

–33.5–11.4

–9.6

–29.50.80.747785695144866551127271292255661–36.7–16.7SouthAsia9.810.081.557.014.54.727.72.9Americas69.646.510.33.1155.6102.022.69.316.210.62.3–29.1–30.4–14.2–15.0–38.8–32.6–25.9–36.6–10.17068–14.5

–16.8

–13.4

–13.1NorthAmericaCaribbean76–16.3–6.2–2.4–18.3–11.74.3–18.9

–15.9–14.3–6.30.4–45.1–57.139583629289262745316–6.1–6.21.5CentralAmericaSouthAmericaAfrica1.0441321011597367421359814771–8.29.85.321.72.3–85.0–71.5–74.4–69.9–65.917417050597–20.0

–15.5–19.318.75.619.66.646.519.04.82.0–10.8

–10.6

–13.6Middle

East65.6mNorthAfrica7.29.2–2.3SubsaharanAfricaMiddle

East13.113.127.52.9–20.8

–19.9

–21.915.4

13.6

15.8–20.716.7Africa46.5m19.824.965.66.84910155Source:

World

Tourism

Organization

oftheUnited

Nations(UNWTO)

*Provisional

data

¹ClassificationbasedontheInternationalMonetary

Fund

(IMF),

seetheStatisticalAnnex

oftheIMFWorld

Economic

OutlookofApril2017,

page175,

at

/external/ns/cs.aspx?id=29.

²Arrows

(

)

indicatepercentage

changeabove

1000.

See

methodologicalnotes.

See

box

inpageAnnex

1

for

explanation

ofabbreviations

andsymbols

usedTOURISM

INVESTMENT

2023

UNWTO’SCOMMENT7Unlockingthefullpotentialoftourism:

a

callforthe

Covid

pandemic

alone

has

resultedin

a

loss

of

$2.6tn

in

internationaltourism

revenues

since

2020.To

expedite

economic

recovery

andensure

the

long-term

sustainability

ofthe

tourism

value

chain,

concerted

policy

and

innovation,

we

can

unlock

newaction

is

required

to

attract,

promote,and

mobilise

FDI

in

the

sector.

Theseinvestments

serve

as

powerful

drivers,revitalising

destinations

and

facilitatingsustainable

and

green

initiatives.

Byprioritising

investments

aligned

withthe

Sustainable

Development

Goals,

asoutlined

in

the

Glasgow

Declaration

ondrive

innovation

and,

by

embracingdigital

technologies,

enhance

thecompetitiveness

and

resilience

of

thetourism

sector.By

prioritising

investments

in

talenthigh-level

actionopportunities

and

ensure

the

sectorremains

at

the

forefront

of

technologicaladvancements.

We

also

call

for

greatercollaborations

and

partnershipsbetween

governments,

internationalorganisations,

financial

institutionsand

private

sector

stakeholders.

Byleveraging

the

collective

expertise

andZurab

Pololikashvili,

secretary-general,

UNWTOAs

the

globalClimate

Action

in

Tourism,

policymakers

resources

of

these

entities,

we

cancan

accelerate

the

transition

towards

foster

sustainable

tourism

development.more

environmentally

friendly

practices.

It

is

crucial

to

develop

investmentcommunity

navigatesthe

aftermath

ofthe

pandemic,

thetourism

sector

hasshown

remarkableThis

encompasses

initiatives

such

asthe

development

of

green

buildings,frameworks

and

guidelines

that

willenable

our

member

states

to

innovateThepandemicretrofitting

projects,

and

the

adoption

of

their

approach

to

attract,

promote

andalonehasresultedinalossof$2.6tnininternationaltourismrevenuessince2020resilience.

In

thefirst

quarter

ofsustainable

technologies.facilitate

investments

driving

the

sectorforward.The

UNWTO

calls

on

its

member2023,

international

tourist

arrivalsreached

80%

of

pre-pandemic

levels,surpassing

the

overall

recovery

rateof

66%

witnessed

in

2022.

However,urgent,

strategic

policy

action

isrequired

to

address

the

critical

challengeof

inadequate

investments

in

thesector,

which

is

vital

for

long-termsustainability

and

innovation.Despite

the

positive

trends

seenover

recent

months,

the

tourismsector

continues

to

face

economicand

geopolitical

headwinds.

It

isimperative

to

recognise

that

a

robustand

sustainable

recovery

hinges

ondecisive

policy

measures

that

stimulateinvestments.

Investments

in

tourismstates

to

unlock

the

full

potential

of

thetourism

sector

as

a

catalyst

for

positivechange,

first

by

investing

in

educationand

supporting

innovative

talent.

Toensure

the

growth

and

competitivenessof

the

sector,

significant

investmentsmust

be

made

in

education

and

talentThe

UNWTO

is

honoured

to

onceagain

collaborate

with

fDi

Intelligenceto

present

this

report.

By

leveragingtrusted

data

and

insights,

this

reportaims

to

provide

a

comprehensiveunderstanding

of

greenfield

investmentsin

our

sector.

It

is

crucial

to

prioritisenot

only

drive

economic

growth,

butalso

serve

as

a

catalyst

for

job

creation,innovation,

and

inclusive

development.by

upskilling

the

professional

workforce

policy

actions

that

support

theand

implementing

vocational

andtechnical

programmes.

Only

in

this

wayGlobally,

foreign

direct

investment

(FDI)

can

we

equip

young

people

—

of

whomaccelerated

achievement

of

the

2030Agenda,

encompassing

the

pillarsof

People,

Planet

and

Prosperity,thereby

ensuring

a

sustainable

futurefor

tourism.has

faced

several

challenges,

includingrising

interest

rates,

which

constrainfinancing,

and

geopolitical

tensions.These

factors

have

not

only

impactedthe

tourism

sector,

but

also

otheronly

50%

have

completed

secondaryeducation

—

with

the

knowledge

andcapabilities

they

need

to

thrive

in

thesector.

These

investments

will

thenpave

the

way

for

a

skilled

workforcethat

can

deliver

exceptional

growth,industries

around

it.

We

estimate

thatTOURISM

INVESTMENT

2023

ASIA-PACIFIC8Asia-PacificTOURISMFDIINTOTOP

10COUNTRIESINASIA-PACIFIC

FORTOURISMFDI,2018–2022ASIA-PACIFIC

2018–2022YearCapital

investment($bn)*30.325.65.31–1031–4041–5051–6061–7071–8020182019202020212022Total11–2021–30FDI

projects

into

Asia-PacificCHINA79•Intotal,517tourismforeigndirectinvestment(FDI)projectswererecordedintheAsia-Pacificregionbetween2018and2022,representing$65.1bn

ofcapitalinvestmentandcreatingmorethan105,600jobs.Followingadeclinein2020and2021,thenumberofannouncedprojectsintotheregionincreasedmarginallyby2.4%

to42

projectsin2022.2.6JAPAN571.265.1Source:

fDi

Markets

()*Estimatesincluded•Jobcreationintheregionpeakedin2018,withmorethan49,000

jobscreatedandfelltoitslowestin2021,whenapproximately4300jobswerecreatedthroughtourismFDI.Thenumberofjobscreatedfromtourism-relatedinvestmentsincreasedby6%

from2021to2022.PHILIPPINES26•ChinaattractedthehighestnumberoftourismFDIprojectsbetween2018and2022,receiving79announcedprojects;15%ofthetotalmarketshareintheregion.ChinapeakedfortourismFDIin2019,with30announcedprojects,yetinboundprojectnumbershavesteadilydeclinedsincethen.INDONESIA29INDIA51•IndiaattractedthreetimesmoretourismFDIprojectsin2022thanitdidin2021,andrankedasthetopdestinationcountryintheregionlastyear.Between2018and2022,Indiareceivedatotalof51

announcedtourismFDIprojects,representingamarketshareof9.9%

inAsia-Pacificandmorethan$2.2bnincapitalinvestment.VIETNAM37THAILAND36•Indiawasthesourceof15tourisminvestmentsin2022,makingitthesector’slargestsourcecountryintheAsia-Pacificregionlastyear.Between2018and2022,Indiawasthesourceof16%

oftheregion’soutboundtourismFDIprojects.SINGAPORE40MALAYSIAAUSTRALIA4922Source:

fDi

Markets

()TOURISM

INVESTMENT

2023

ASIA-PACIFIC9TOURISMFDIINTOASIA-PACIFIC,

2018–2022LOCATION

OFTOURISMFDIPROJECTSINTOASIA-PACIFIC,

2018–2022Facts

and

figuresProjectsJobs*Australia

attractedthesecond-largestnumberoftourismFDIprojectsintheAsia-Pacificregionin2022.Tourism

FDIprojectnumbersgrewby40%fromfivein2021tosevenin2022.Between2018and2022,Australiawastheregion’sfourth-largestmarketfortourismFDIprojects.Itheldamarketshareof9.5%withatotalof49

tourismrelatedinvestments,valuedatmorethan$2.2bn.500002502001501005040000300002000010000Japan

attractedthesecond-largestnumberoftourismFDIprojectsbetween2018and2022,receiving57announcedprojectswhichrepresented11%ofthetotalmarketshareintheAsia-Pacificregion.However,tourismFDIintoJapanremainedstagnantbetween2021and2022.15%China11%Japan10%9.5%7.7%7.2%7.0%5.6%5.0%4.3%18%IndiaAustraliaSingaporeVietnamThailandIndonesiaPhilippinesMalaysiaOtherBetween2018and2022,Vietnamreceived37tourismFDIprojectswhichrepresentedaregionalmarketshareof7.2%.

Tourism

FDIintoVietnamgeneratedmorethan7800newjobsand$6.4bnfrom2018to2022.0020182019202020212022Total

projectsTotal

jobs*517105,662Source:

fDi

Markets

()Source:

fDi

Markets

()*EstimatesincludedTOURISM

INVESTMENT

2023

EUROPE10EuropeTOURISMFDIINTOEUROPE,2018–2022TOP

10COUNTRIESINEUROPEFORTOURISMFDI,2018–2022YearCapital

investment($bn)*25.911.66.41–2061–80121–140141–16020182019202020212022Total21–4041–6081–100101–120FDI

projects

into

Europe•

Europe

attracted

1004

tourism

foreign

direct

investment

(FDI)projects

between

2018and2022.

Duringthisperiod,$51.1bn

wasinvested

andmore

than102,000

jobswere

created.

Thevolumeoftourism

FDIprojects

inEurope

increased

by

16%

from

2021

to2022,

attracting

167

projects

lastyear.

However,

FDIprojects

intheregion’s

tourism

industryremained

below55%

ofits

2019figures.4.32.951.1Source:

fDi

Markets

()*EstimatesincludedUK160IRELAND30NETHERLANDS32•

Capital

investment

andthenumberofjobscreated

by

tourismFDIboth

peaked

in2018.Overthefollowingfour

years,

capitalinvestment

andjobcreation

inthetourism

cluster

declinedby

89%and68%

respectively.POLAND31GERMANY133•

TheUKwas

thetop

destinationfor

tourism

FDIinEuropebetween

2018and2022,

attracting

160projects;

16%

oftotaltourism

FDIinEurope.

TheUKwas

alsothetop

source

market,

with311

outboundtourism

projects

tracked

ata

value

of$18.3bn.PORTUGAL58•

Thetop

destinationmarket

for

capitalinvestment

intheregionbetween

2018and2022

was

Spain.Projects

into

thecountrygenerated

$19.4bn

worthofcapitalinvestment

whichequated

toamarket

share

of38%.•

SpainandGermanyranked

secondandthird

respectively

intheregion

by

inboundproject

numbersinthetourism

cluster

between2018and2022.

Whencombined,thetwocountriesaccounted

formore

thanone-quarter

ofinboundtourism

projects

inEurope.FRANCE96•

Turkey

was

thetop

tourism

FDIdestinationandsource

market

inemerging

Europe,

attracting

27%

ofinboundtourism

FDIprojects(52)

inemerging

Europe.

Thecountryalsoaccounted

for

20%oftheoutboundFDIprojects

(12).SPAIN133ITALY45TURKEY52Source:

fDi

Markets

()TOURISM

INVESTMENT

2023

EUROPE11TOURISMFDIINTOEUROPE,2018–2022LOCATION

OFTOURISMFDIPROJECTSINTOEUROPE,2018–2022Facts

and

figuresProjectsJobs*France

sawa85%increaseinthenumberofinboundtourismFDIprojectsfrom13in2021to24

in2022.ThenumberofprojectsannouncedintoFrancein2022isonlymarginallylessthanthe28tourismFDIprojectsannouncedin2019.4000035030025020015010035000300002500020000150001000050000Lastyear,Ireland

matchedthenumberofFDItourismprojectsthatitattractedin2021,registeringninenewprojectannouncements.FDItourismcreatedcloseto600newjobsinIrelandlastyear,withcapitalinvestmentvaluedat$194m.16%UKDespitethewar,

Ukraine

attractedanimpressivesixtourismFDIprojectsbetween2018and2022,withacapitalexpenditurevalueofmore$145min2022.13%Spain13%GermanyFrancePortugalTurkeyItaly9.6%5.8%5.2%4.5%3.2%3.1%3.0%23%NetherlandsPolandIrelandOther20182019202020212022Total

projectsTotal

jobs*1004

102,389Source:

fDi

Markets

()Source:

fDi

Markets

()*EstimatesincludedTOURISM

INVESTMENT

2023

INNOVATION12Tourism

sector

embracesrecovery

through

strategicinvestments

andinnovationNatalia

Bayona,

executive

director,

UNWTOStrategicinvestments

holdthe

key

to

propelling

to

make

bold

strides

in

innovationthe

recovery

of

thetourism

sector

andfostering

its

long-term

sustainabilitythrough

innovation.more

equitable

and

thriving

industry.The

UNWTO

urges

its

member

statesThe

fruits

of

these

endeavours

havebeen

nothing

short

of

remarkable,with

the

organisation

executing15

start-up

competitions,

drawing18,764

participants

from

more

than150

countries.

Accompanying

theseefforts

are

eight

innovation

challenges,attracting

2450

participants

from

morethan

130

countries.What

sets

these

initiatives

apartis

the

unmistakable

quality

of

thestart-ups

that

have

gravitated

toUNWTO’s

programs.

Distinguished

bytheir

pioneering

ideas

and

visionarysolutions,

these

ventures

haveand

education,

too.

Our

researchhas

shown

that

venture

capital

(VC)investments

in

the

travel

sector

haveshown

continuous

growth

over

the$455bnwasinvestedintravelpast

decade.

To

take

just

one

example,

andmobilitytechIn

line

with

its

wider

vision,

theWorld

Tourism

Organization

of

theUnited

Nations

(UNWTO)

remainsdedicated

to

bolstering

the

investmentpromotion

frameworks

of

its

memberstates

and

nurturing

a

robust

tourisminnovation

ecosystem.

Throughpioneering

innovative

strategies

thatattract

and

promote

investments,

weadvocate

for

measures

ranging

from$455bn

was

invested

in

travel

andstart-upsbetweenmobility

tech

start-ups

between

2010and

2019.

VC

investment

into

the

sector

2010and2019inevitably

retreated

in

the

pandemicyears,

only

to

come

back

in

force,

with$20bn

into

travel

and

mobility

start-ups

in

2022

alone.As

the

sector

steers

its

coursetowards

recovery

and

growth,

UNWTOnow,

more

than

ever,

prioritiseswith

new

skills

through

upskilling

andvocational

workforce

programmes,creating

quality

job

opportunities,

andshown

their

clear

potential.

Suchis

the

magnitude

of

their

impactthat

they

have

successfully

securedtax

exemptions

for

sustainable

projects

innovation,

education

and

strategicraising

average

wages

across

the

entire

an

astounding

$2bn

in

funding,to

the

establishment

of

initiativesfostering

matchmaking

funds.

Theseinitiatives

strengthen

social

impact,community

development

and

inclusioninvestments

as

the

pillars

fortourism

value

chain.

Additionally,

wechampion

substantial

investments

indigitalisation,

especially

for

the

smalland

medium-sized

enterprises

thatconstitute

80%

of

the

tourism

sector.empowering

the

young

and

talented,and

infusing

the

sector