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WTM: BRICS nations to fuel tourism growth

WTM: BRICS nations to fuel tourism growth

The leading BRICS countries, which are driving a dramatic increase in global tourism, will be in the spotlight during a keynote event at World Travel Market, the leading global event for the travel industry, session.

Stephen Sackur, presenter of BBC World’s flagship news and current affairs programme, HARDtalk will host the panel discussion on Wednesday November 9th.

Senior representatives will be present from government and tourism organisations of all five BRICS countries – Brazil, Russia, India, China and South Africa.

Reed Travel Exhibitions Chairman World Travel Market, Fiona Jeffery, said the BRICS countries represented significant potential for the future, bringing huge economic benefits for markets that are prepared for the new arrivals.

“Given sound political decisions and some good luck, the BRICS economies together could become larger than those of the world’s six most developed countries in less than 40 years,” said Jeffery.

“That is why this is such an important session for the future of the international industry.

“Of the current G6, only the US and Japan may be among the six largest economies in US dollar terms in 2050.

“An estimated two billion new middle class consumers are expected to come into the markets from these emerging economies over the next 20 years,” she added.

“However, critics say the industry is simply not preparing ahead sufficiently to maximise the numerous opportunities.”

China outbound travel market is growing by an estimated 20 per cent increase every year.

A total of 58 million Chinese travelled outbound last year last year.

The Chinese, for example, has set their sights on the Caribbean — and particularly the region’s tourism business — as a significant investment target. 

Governments in the region, as well as the private sector, are welcoming them with open arms.

“The Chinese government has already made several substantial direct investments and aims to do more,” said Adam Wu, chief operating officer of China Business Network.

“There’s no myth to the reasons for the Chinese interest in the Caribbean,” added Wu.

“Diplomacy and geopolitics lead to trade and investment.”

A formal invitation was made earlier this year by the BRIC countries for South Africa, as the continent’s leading economy, to join them.

It was for this reason that five countries have been invited to be represented at World Travel Market’s forum called ‘Power Talk: Investing in BRICS Tourism’.

“The meeting will investigate how the industry can take advantage of the BRICS economies booming growth with a top-line panel of speakers,” added Jeffery.

Speakers include: Jeanine Pires, director of Pires & Associates, president of the Tourism & Business Council of FECOMERCIO in Sao Paulo and former president of Embratur, Brazil; Sergey Stanovkin, director of Dars Consulting, Moscow, Russia and H.E. Marthinus van Schalkwyk, South Africa’s Tourism Minister.

World Travel Market’s ‘Power Talk: Investing in BRICS Tourism’, hosted by the BBC’s Stephen Sackur is at 16:00 on Wednesday November 9th at Platinum Suite 4, ExCeL London.