WTTC aims to support 1m tourism SMEs through global initiative

Dhaka: The World Travel and Tourism Council (WTTC) has set a target of supporting one million small and medium-sized enterprises (SMEs) worldwide through its Together in Travel initiative, offering free resources, industry connections, and policy advocacy.

The announcement was made at WTTC’s Global Summit in Malta, which brought together more than 1,000 delegates, including over 200 tourism executives and government leaders.

New research presented at the summit estimates that a 10 percent increase in SME productivity could generate an additional USD 63 billion in direct travel and tourism GDP across eight major economies. A 5 percent improvement could contribute USD 31 billion.

SMEs account for more than 85 percent of travel and tourism businesses globally, making them essential to local economies, employment, and visitor experiences.

WTTC President and CEO Gloria Guevara said the initiative would help smaller businesses overcome barriers related to financing, skills, digitalization, and market access.

The organization is developing a free digital platform offering practical guidance, research, best practices, and opportunities to connect with industry experts.

WTTC has also partnered with the International Chamber of Commerce to strengthen research, knowledge sharing, and advocacy for tourism businesses.

Through Together in Travel, WTTC aims to improve SME productivity, expand growth opportunities, and strengthen the industry's resilience amid technological, economic, and environmental changes.