What is the story about?
What's Happening?
The World Travel & Tourism Council (WTTC) has released a report indicating that while the travel and tourism sector is projected to create 91 million new jobs by 2035, it faces a potential shortfall of over 43 million workers globally. The report, unveiled at the WTTC's Global Summit in Rome, highlights demographic and structural changes that could lead to significant labor shortages, particularly in hospitality and lower-skilled roles. The study, which includes data from 20 economies, emphasizes the need for strategic action to address these gaps and ensure the sector's continued growth.
Why It's Important?
The anticipated workforce shortfall poses a significant challenge to the travel and tourism industry, which is a major global job creator. The sector's ability to meet labor demands is crucial for its growth and for providing employment opportunities worldwide. The report calls for collaboration between governments, educators, and industry leaders to develop policies and strategies that attract and retain talent. Addressing these labor shortages is essential to maintaining the sector's economic contributions and ensuring its resilience in the face of demographic shifts and evolving labor markets.
What's Next?
The WTTC plans to work with global government officials to implement policies that reduce the workforce gap and unlock potential in various countries. The focus will be on creating training opportunities and designing jobs that align with the values of today's workforce. The sector's stakeholders are encouraged to rethink talent attraction and retention strategies to adapt to the changing environment and secure a dynamic future for travel and tourism.
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