The World Economic Forum (WEF) Travel and Tourism Competitiveness Index (TTCI) is a tool used to measure the competitiveness of countries in the travel and tourism industry. The TTCI ranks countries based on their attractiveness and ability to develop their travel and tourism industries.
What Is the WEF Travel and Tourism Competitiveness Index?
The WEF TTCI is a comprehensive tool that measures the competitiveness of countries in the travel and tourism industry. It takes into account various factors such as infrastructure, safety, health, cultural resources, natural resources, business environment, and human resources. The index ranks 140 countries based on their performance in these areas.
Why Is the WEF Travel and Tourism Competitiveness Index Important?
The travel and tourism industry is an important contributor to the global economy. According to the World Travel & Tourism Council (WTTC), the industry generated 10.4% of global GDP in 2018 and supported 319 million jobs worldwide. The WEF TTCI provides valuable insights into how countries can improve their competitiveness in this important sector.
How Is the WEF Travel and Tourism Competitiveness Index Calculated?
The WEF TTCI is calculated based on a combination of quantitative data from international organizations such as the International Air Transport Association (IATA), United Nations World Tourism Organization (UNWTO), World Health Organization (WHO), World Bank, among others; as well as qualitative data from surveys conducted by the WEF.
What Are Some Key Findings from the Latest WEF Travel and Tourism Competitiveness Index?
According to the latest report released in 2019, Spain topped the rankings for the third time in a row followed by France, Germany, Japan, and United States. The report also highlighted some key trends such as digitalization of travel services, sustainable tourism practices, and the importance of safety and security in attracting tourists.
Conclusion
The WEF Travel and Tourism Competitiveness Index is an important tool that provides valuable insights into the competitiveness of countries in the travel and tourism industry. By identifying areas where countries can improve, the index can help countries attract more tourists and generate more economic benefits from this important sector.
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