What's Happening?
The inaugural TOURISE Summit, organized by the Saudi Ministry of Tourism, is taking place in Riyadh from November 11-13. The event gathers policymakers, business leaders, innovators, and investors to discuss
the future of tourism over the next 50 years. The summit aims to address the sector's significant economic impact, which contributed $10.9 trillion to the global economy in 2024, and is projected to reach $16.5 trillion by 2035. Discussions will cover various aspects of tourism, including sports tourism, event tourism, business travel, and wellness tourism, highlighting the sector's role as an accelerator for innovation across multiple industries.
Why It's Important?
Tourism is a major economic driver, accounting for 10% of the world's GDP and supporting approximately 357 million jobs globally. The summit's focus on sustainable and inclusive tourism practices is crucial as the industry continues to grow. By addressing challenges such as technology's role in travel experiences and the balance between mass tourism and sustainability, the summit seeks to ensure that tourism development benefits local communities and preserves cultural heritage. The outcomes of this summit could influence global tourism policies and practices, impacting economic opportunities across sectors.
What's Next?
The TOURISE Summit will explore how technology, investment, and policy can ensure equitable benefits from tourism. The summit's program includes themes such as AI-powered tourism, disruptive business models, and sustainable tourism practices. The event will feature guest speakers from major organizations like Expedia, Google, and the UN, aiming to establish a blueprint for the future of tourism. The summit's discussions and innovations could lead to new strategies for tourism development, influencing global economic and cultural landscapes.
Beyond the Headlines
The summit highlights the ethical and cultural dimensions of tourism, emphasizing the need for responsible practices that prioritize local needs and environmental impacts. By fostering collaboration among technology leaders, urban planners, and sustainability experts, the summit aims to create a tourism industry that supports cultural preservation and exchange while promoting economic growth.
