UNWTO TAKES THE LEAD TO FORMULATE NEW TOURISM FINANCING OPTIONS FOR THE FUTURE
(Posted 10th July 2019)
Tourism’s unique potential as a tool for driving the global sustainable development agenda has taken center stage at a special event hosted by the World Tourism Organization (UNWTO) in Geneva, Switzerland.
The session, entitled “Tourism Financing for the 2030 Agenda” was held during the 2019 Global Review of Aid for Trade at the headquarters of the World Trade Organization (WTO). UNWTO Secretary-General Zurab Pololikashvili began the discussions by highlighting the key role that the global tourism sector plays in economic growth and job creation.
Ministers, development partners and financing institutions need to better understand and recognize how tourism can contribute to the 2030 Sustainable Agenda. Tourism is explicitly mentioned as a target in three of the 17 Sustainable Development Goals (8, 12 and 14), though, as speakers at the Geneva session noted, for the sector to really realize its enormous potential, the amount of aid and development financing directed towards tourism needs to be increased significantly. Unlocking Tourism’s potential for realizing the 2030 Agenda requires a combination of effective and robust policy frameworks, enhanced private sector action, and an innovative approach to partnerships for development cooperation.
“This is an important time for both the tourism and the international development sectors,” said Mr. Pololikashvili.
“Strengthening and unlocking aid flows for tourism will help the sector be a driver of job creation, as well as of social and economic development and economic diversity. UNWTO welcomes the opportunity to join ministers, tourism leaders and our partners for these important talks here in Geneva. Working together we can harness the power of the new aid architecture and ensure that nobody gets left behind as tourism transforms lives around the world‘ he added.
Also joining Mr Pololikashvili for the session were Ms. Arancha González, Executive Director, International Trade Centre (ITC), H.E Dr. Rania Al- Mashat, Minister of Tourism, The Arab Republic of Egypt, Mr. Toshiyuki Nakamura, Director General, Japan International Cooperation Agency (JICA), and Ms. Caroline Freund, Director of Trade, Regional Integration and Investment Climate, World Bank.
Useful Links
Aid for Trade Global Review 2019: “Supporting Economic Diversification and Empowerment.”
