UNWTO Boosts Collaboration for Tourism Investments

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by KnowESG
KnowESG_UNWTO
Image courtesy of UNWTO

UNWTO has reinforced its commitment to promoting investments that foster a more robust and sustainable tourism industry. This has been achieved by strengthening collaborations with both the global community and private enterprises.

In line with this objective, UNWTO has become a member of the World Investment for Development Alliance (WIDA). Through this partnership, UNWTO will strive to elevate the quantity and efficacy of investments in the tourism industry, ultimately facilitating the realisation of Agenda 2030 and its Sustainable Development Goals.

According to UNWTO Secretary-General Zurab Pololikashvili, investments are frequently the absent element required to actualise our mutual vision for a more sustainable, comprehensive, and resilient tourism sector. UNWTO is pleased to become a part of the WIDA and is eager to collaborate on reevaluating and revolutionising investments in tourism.

James Zhan, the Chair of WIDA, acknowledges that UNWTO has been at the forefront of advocating for investments in tourism that foster sustainable development and inclusive growth. WIDA acknowledges that UNWTO shares the same principles as WIDA and has the potential to make a noteworthy contribution to our shared objectives.

Encouraging post-pandemic investments

Recent data from UNWTO indicates that the COVID-19 pandemic caused a substantial decline in investments in the tourism industry. The United Nations agency has chosen the theme of 'Green Investments' for this year's World Tourism Day (September 27)). Secretary-General Zurab Pololikashvili suggests that closer collaboration with private sector partners is crucial to increasing investment levels and directing resources towards sustainability-focused initiatives.

Mr Pololikashvili affirms that he is pleased with the confirmation of the new partnership between UNWTO and the Annual Investment Meeting (AIM). He believes that this collaboration will be advantageous for both parties, as the private sector can make a substantial contribution to UNWTO's strategic goals.

UNWTO and the Annual Investment Meeting have committed to implementing the Memorandum of Understanding by collaborating on the "Tourism Investment Segment." This official side event, which will take place on May 8–10 in Abu Dhabi, United Arab Emirates, will be spearheaded by UNWTO.

Dawood Al Shezawi, the President of AIM, stated that AIM's goal has been to establish an interactive platform that facilitates the formation of investment opportunities, thus enhancing economic relationships among countries and addressing global issues. AIM also aims to provide a platform for the brightest minds across all sectors to collaborate and find solutions to scale up development ideas. Al Shezawi expressed his delight in cooperating with the UNWTO and is confident that this partnership will yield fruitful outcomes.

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Source: UNWTO

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