OPENING LINES OCEANIA’S TRAVEL & TOURISM SECTOR COULD BOOST REGION’S ECONOMY BY US$112BN OVER THE NEXT DECADE Source: https://wttc.org/, news, First published Oct 10, 2024Nicholas Finch, First published Oct 21, 2024 A new report by the World Travel & Tourism Council (WTTC) reveals that Oceania’s Travel & Tourism sector could inject an additional US$112BN to the region’s economy by 2034, bringing the total contribution to a record-breaking US$ 336BN. According to the report, in collaboration with VFS Global and launched today at WTTC’s 24th Global Summit in Perth (Boorloo), Western Australia, this boost could also support an extra 1.1 million jobs, raising the total employment in the region supported by Travel & Tourism to 3.5 million by 2034. The report, “Unlocking Opportunities for Travel & Tourism Growth in Oceania”, outlines the transformative potential of the region’s sector if strategic investments are made. According to the global tourism body, Oceania, a region which includes Australasia, Melanesia, Micronesia, and Polynesia, could become a global leader in sustainable travel, while significantly boosting its economy. However, unlocking this economic and social boost requires targeted action in a number of key areas. These include: • Investing in sustainable infrastructure to mitigate and adapt to the impacts of climate change and enhancing connectivity across the region • Enhancing air connectivity • Streamlining visa processes • Promoting eco-friendly tourism practices that protect Indigenous communities For this growth to be realised, the report also advocates for a comprehensive policy package to include expanding airports across the region and developing renewable energy sources for tourism infrastructure. Streamlining visa facilitation is also critical to unlocking this potential growth and would allow for a more seamless travel experience between Pacific islands. VFS Global, a world leader in innovative visa solutions, is well-positioned to support these efforts 7 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 12
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