The Future of Travel & Tourism in Light of September 11, 2001 Graham Wason Vice President, Strategy...
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Transcript of The Future of Travel & Tourism in Light of September 11, 2001 Graham Wason Vice President, Strategy...
The Future of Travel & Tourismin Light of September 11, 2001
Graham Wason
Vice President, Strategy & Development
Agenda
Overview of the Impacts Implications on the Future Role of Industry and Government
35% Reduction in US Revenue Passenger Kilometers (IATA)
20 - 25% Reduction in Rest of the World Traffic (IATA)
40 - 50% Empty Capacity US Airlines Cut 97,000 Jobs
Impact on Demand
“September was the worst month in the history of the business….. …..occupancies and room rates
drastically reduced, as muchas 50% to 60%”
Bill MarriottChairman & CEO
Marriott International, Inc. & Member of WTTC
Corp. Travel Demand: Expected 50% Decline to January 2002 (TBR)
Global Air Traffic: Expected 10% Decline in 2002 (Merrill Lynch)
1.5% Decline in 1991 Due to Gulf War & Weak Economy (Merrill
Lynch)
Impact on Demand
Worldwide Airlines: 131,190 Jobs Postponed Airport / Infrastructure
Development Projects in 2002 Demand for New Aircraft
Evaporated for 2003 and 2004
Impacts on Industry
WTTC Benchmark
10% Reduction in Travel & Tourism Demand
United States: - 1.8% of total GDP
- 1.1 Million Jobs
European Union: - 1.9% of total GDP
- 1.2 Million Jobs
World: - 1.7% of total GDP
- 8.8 Million Jobs
Increased Costs US Government Rescue Package Psychological Damage to Traveller Structural Changes to Infrastructure Effective Communication of Safety
and Security Enhancements
Implications for the Industry
Improve Measurement Tools Unite Industry Participants Harmonise International Safety
and Security Measures Co-ordinate our Messages
Need for Action
Leading International Travel & Tourism Associations
Calling on Governments to: Harmonize International Safety
and Security Restore Consumer Confidence Join Public/Private Partnerships
Global Coalition
Travel & Tourism
Global Economic Impact of Travel & Tourism
Year 2001: 10% GDP
207 million jobs
Year 2011: 11% GDP
260 million jobs
Bulgaria
Economic Impact of Travel & Tourism by 2011
BGN4,852 Million 9.7% total GDP
220,000 jobs 7.6% total Employment
If travel & tourism in Bulgaria grows at the same rate of growth
as the European Union
182,000 additional jobs will be created by 2011.
WTTC
A political engine A supportive regulatory
framework Public Private Partnerships
Long Term Planning
Vision the future for travel and tourism - a future for everyone
Measure and promote the economic importance of travel and tourism
Communicate a positive image of the industry as a provider of jobs and career opportunities
Seven Strategic Priorities
Encourage free access, open markets, open skies and the removal of barriers to growth
Match infrastructure development and customer demand
Seven Strategic Priorities
Facilitate access to capital resources and technological advancement
Promote responsibility in natural, social and cultural environments.
Seven Strategic Priorities