Published on : Thursday, September 5, 2019
The Asian Development bank (ADB) and the Pacific Asia Travel Association (PATA) have teamed up with Plug and Play, a global open innovation platform to develop technologies in the space of sustainable tourism for the region.
There is ample room for disruption and impact on investment within the space of travel and sustainable tourism.
The tourism industry contributes $8.8 trillion to the GDP and sustain 318 million jobs. In 2018 the international tourists arrivals worldwide reached 1.4 billion which was 6.6% more than 2017 . Improved connectivity, higher incomes and open access to travel information suggest tourism to continue and foster global prosperity.
Dominic Mellor, ADB Senior Investment Officer said that ADB recognises that Asia and the Pacific benefit tremendously from tourism. Well-managed tourism is helping to end poverty, make cities more livable and inclusive, and promote peace.
Their shared intention is to leverage the Plug and Play Travel Asia Pacific platform to pilot and scale sustainable and circular economy technologies that reduce waste, conserve energy and water, and provide green solutions to reduce the tourism industry’s carbon footprint and the effects of over-development across the region and beyond.
Thailand PATA is headquartered in Bangkok and works in partnership with private and public sector members to enhance sustainable growth, value and quality of tourism to ad from within the region.
PATA views sustainability as everybody responsibility and advocates for more.
Jupe Tan, Managing Partner of Plug and Play Asia Pacific said that since inception, Plug and Play has evolved to become one of the most established global consortium innovation platforms covering 14 industry-themed verticals that reviews thousands of startups per year across its 29 offices.
In the past few years, they have been collaborating with over 300 corporations (mostly in the Fortune500 category) to connect them with cutting edge startups and execute their corporate innovation strategy. As part of their vision to help the world progress through innovation and connection, Plug and Play looks to continue to expand its reach within the regional tourism sector with more corporations to join the Plug and Play Travel Asia Pacific platform.