2nd Edition UNWTO Global Tourism Investment Forum
2-4 September 2021, Sal (Cabo Verde)
In collaboration with:
The COVID-19 pandemic has hit hard investments in the tourism sector. Data suggests that global Foreign Direct Investment (FDI) in the tourism sector plummeted by 74% to $15.7bn and job creation also fell by 72% in 2020 compared with the same period of 2019 (fDi Financial Times, 2020). This drop was a consequence of travel restrictions worldwide that generated a loss of 1 billion international tourist arrivals which is almost a 75% decline of International tourist arrivals which represented US$ 1.3 trillion loss in export revenues from international tourism (UNWTO, 2021).
Given its importance the UNWTO Investment Forum will be celebrated in the framework of the Sixty- Fourth UNWTO Commission for Africa. The Forum will help to strengthen the UNWTO´s purposes to accelerate economic recovery of the tourism sector through innovation, education, and investments. It will provide to the member states with relevant content and insights to enhance future resilience in the linkages of the tourism value chain post COVID-19.
The Investment Forum will focus on “innovation and investment” showcasing the investment climate in the tourism sector in Africa including the case of Cabo Verde. The discussions will address measures for sustainable investments, and enhancing coordination and cooperation to promote digitalization and innovations initiatives among stakeholders including of the sector in terms of economic recovery, job creation and resilience post COVID-19.
The 2ND EDITION OF UNWTO GLOBAL TOURISM INVESTMENT Forum will invite Ministers of Tourism, traditional, non-traditional investors, Multilateral Funds, African Regional Economic Communities, African regional and sub-regional organizations, Travel Tech Startups and media partners to share best practices and insights. The main objectives includes:
- Foster cooperation and encourage the implementation of sustainable investment frameworks for the promotion of tourism investments and job creation post COVID-19.
- Promote ease of doing business including measures to safeguard, attract and promote tourism investment projects during and after the pandemic for a faster economic recovery.
- Diffuse knowledge on travel and tourism investments trends and guidelines to maximizing its impact.
The UNWTO Investment Forum is a high-level specialized event that gathers: Ministers of Tourism, and Economic Development, Traditional, Non-traditional Investors, Innovators, and Media partners to share best practices, case studies and insights, with a forward looking vision to attract, promote and facilitate sustainable investments for tourism development.
Aligned with the United Nations’ vision to transform the financial system towards sustainable development, and leverage opportunities to increase scalable sustainable investments, the UNWTO Investment Forum focuses on three pillars:
- Foreign Direct Investment, Aligning global economic policies and financial mechanisms.
- Tourism Value Chain and SMSs, Enhancing sustainable financing strategies for local impact.
- Innovation and Digital Transformation, Seizing the potential of innovation, technology and digitalization to provide equitable finance.
Foreign Direct InvestmentAligning global economic policies and financial mechanisms.
Tourism Value Chain and SMSsEnhancing sustainable financing strategies for local impact
Innovation and Digital TransformationSeizing the potential of innovation, technology and digitalization to provide equitable finance.
The forum will be structured in two parts. The first part focused on Capacity Building delivering workshops focus on “innovation and investment” and Digital Marketing to provide a set of practical measures concerned with supporting the tourism sector, providing measures for sustainable investments, and enhancing coordination and cooperation to promote digitalization and innovations initiatives among stakeholders including small micro, and medium-sized enterprises (MSMEs) of the sector in terms of economic recovery, job creation and resilience post COVID-19.
The second part will be focus on the strategic forum which will provide relevant data insights and practical strategies to safeguard investments and formulate strategies for a sustainable recovery. Offering solid strategic foundations concerning investment attraction and promotion, but also practical measures and best practices on innovative travel and tourism tech solutions to mitigate the impact of the COVID-19 pandemic.