Empowering Small Businesses: WTTC’s New Initiative for the Travel Industry
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The World Travel & Tourism Council (WTTC) unveiled its latest global initiative, “Together in Travel,” at its 2024 Global Summit in Perth. This groundbreaking program is specifically designed to provide small and medium enterprises (SMEs) within the Travel & Tourism sector with essential resources and tools to accelerate business growth and enhance their influence on the global stage.
The “Together in Travel” platform offers SMEs access to a free, dynamic hub where they can find a wide array of educational programs, networking opportunities, and industry-specific content aimed at strengthening their operations. While the platform currently offers a free subscription, additional paid subscriber options will be introduced next year. These paid plans will provide enhanced features and benefits to help SMEs further thrive in a competitive and ever-changing industry.
During the launch, WTTC President & CEO Julia Simpson emphasized the pivotal role that SMEs play in the Travel & Tourism sector. “SMEs form the backbone of Travel & Tourism, with millions of small enterprises offering services to travelers, creating innovative start-ups, and sharing invaluable local knowledge with larger partners,” Simpson said. “For the first time, these businesses have the opportunity to join a community where they can exchange ideas and access the tools needed to strengthen and grow their businesses.”
The WTTC expects 2024 to be a record-breaking year for the Travel & Tourism sector, with a projected global economic contribution of $11.1 trillion. As such, SMEs are seen as integral to fostering entrepreneurship and introducing innovative ideas to the industry. In fact, research indicates that up to 80% of the Travel & Tourism sector consists of SMEs, underscoring the need for initiatives like “Together in Travel” that aim to support these enterprises in optimizing their operations and impact.
Matthew Upchurch, Vice Chair of Membership at WTTC and CEO of Virtuoso, praised the launch of this new initiative, noting its potential to bring about significant positive change for SMEs in the travel industry. “The ‘Together in Travel’ community represents a major step forward for WTTC in advocating for SME interests,” Upchurch said. “Initiatives like this will help the sector not only recover from the challenges posed by the global pandemic but also create a more resilient and sustainable future for everyone involved.”
One of the SMEs already benefiting from this initiative is Matagarup Zip+Climb, a small adventure business based in Perth. Co-founder Ryan Mossny expressed his excitement about the new platform, explaining how it could help businesses like his access critical resources and industry connections that are often difficult to obtain. “WTTC’s new initiative has come at just the right time,” Mossny remarked. “With targeted support, we can now tackle our challenges head-on and position ourselves to succeed in a competitive market.”
As the global authority on the economic and social impact of Travel & Tourism, the WTTC is dedicated to promoting sustainable growth and inclusive practices within the sector. The “Together in Travel” initiative is yet another example of its commitment to fostering innovation and supporting the small businesses that form the foundation of the industry.
