World Conference on Tourism Cooperation and Development Held in Beijing

On the morning of September 5th, 2020, the World Conference on Tourism Cooperation and Development sponsored by the World Tourism Cities Federation(WTCF) commenced at the China National Convention Center. As one of the four summit forums held during the 2020 China International Fair for Trade in Services (CIFTIS), this conference is also the only one held by international organizations during the CIFTIS, which attracted more than 50 speakers and about 300 representatives, including heads of international organizations, ambassadors of China, representative members of the WTCF, heads of famous tourism groups and leaders of investment organizations.

The morning witnessed the opening ceremony, keynote speeches, release of key research findings and a forum centered on “Tourism as a Catalyst for the Revitalization of the World Economy”. In the afternoon, a forum was held on the themes “New Normal of Tourism amid COVID-19” and “Tourism Investment and Financing Conference” was specially designed to discuss the theme of “Reorienting Tourism Investment and Recasting the Industry”. In addition, the Conference participants held on-site negotiations and signed relevant projects.

Focusing on the New Normal of Tourism and Exploring New Models for Tourism Development after the Epidemic

That afternoon, Ms. Gloria Guevara, President & CEO of World Travel and Tourism Council (WTTC), delivered a keynote speech. She said that over the past 30 years, WTTC has conducted a large number of studies to assess the impact of travel and tourism on the economies of 185 countries in the world. The conclusion shows that tourism contributes roughly 10% of the world’s GDP. “Unfortunately, the current COVID-19 epidemic has had a serious impact on tourism. It is very important that we take countermeasures to minimize losses and make every effort to collaborate.” Ms. Gloria Guevara also mentioned in her speech that the WTTC will take a number of measures to promote the recovery of the industry, such as urging cooperation to reopen borders and remove barriers, focusing on the tourism experience, and formulating relevant regulations. The government will continue to provide support including economic aid, stimulus measures, liquidity and marketing. She believed that the combination of these measures will help the industry to recover, better regulate the global tourism industry, improve the travel experience and encourage the public to go abroad.

Live Photo of the Forum “New Normal of Tourism amid COVID-19”

In the discussion session of the forum “New Normal of Tourism amid COVID-19”, Prof. Dr. Song Rui, WTCF Expert and Director of the Tourism Research Center, CASS; Mr. Luis Diego Monsalve, Ambassador of the Republic of Colombia to China; Mr. Tom Mehrmann, President and General Manager at Universal Beijing Resort; Mr. Yasuda Tsuyoshi, Chief Rept. of JTB Corp. Beijing Office; Mr. Gao Zhiquan, Vice President of China CYTS; Mr. Shu Zhan, Director of Tencent Culture & Tourism Research Institute, and other guests focused on how to establish a coordinated mechanism for emergency rescue, tourism safety, information disclosure and information security. Other priorities discussed were how tourism destinations and tourism enterprises can enhance their ability to avoid risks and how to reshape the core competitiveness of tourism enterprises so that they could adapt to the new normal.

Setting Up the Tourism Investment and Financing Trading Platform, Reorienting and Recasting the Industry

Chen Dong, Secretary-General of WTCF and Director-General of Beijing Municipal Bureau of Culture and Tourism, delivers a speech at the Tourism Investment and Financing Conference

In the Tourism Finance & Investment Conference , Chen Dong, Secretary-General of WTCF and Director-General of Beijing Municipal Bureau of Culture and Tourism, delivered a speech. He said that a good investment environment is the key to promoting tourism recovery. Since 2005, global tourism investment has maintained a high growth. The average annual growth rate exceeds 5%, with the highest reaching 13%. Notably in the Asian-Pacific region, the total tourism investment in 2019 reached 120 billion US dollars, accounting for 38% of the world’s total tourism investment. The investment has played a big role in promoting the rapid development of the sector.

Due to the impact of the COVID-19 epidemic, cutting-edge technologies such as the Internet, big data and AI will be widely used. Small, customized and low-density tours will become the most popular travel mode in the post-epidemic era. Great changes will take place in the organizational, industrial, and management modes of international tourism.

In his speech, he said that although the epidemic has dealt a heavy blow to world tourism, the core products, service systems and basic needs of the industry still exist. The overall trend of world tourism remains favorable for long-term growth after the epidemic. Tourism will remain a preferred area with the highest investment value in the post-epidemic era. He called on governments, global cities and tourism enterprises, under the impact of the epidemic, to grasp the overall aim of recovery, create an amicable environment for investments, promote international cooperation, so as to inject new momentum into the revival of world tourism.

Dr. Andrew Yan, Managing Partner of SAIF Partners, delivers a keynote speech

Dr. Andrew Yan, Managing Partner of SAIF Partners, delivered a keynote speech at the themed forum on “Reorienting Tourism Investment and Recasting the Industry”. He said, “The 2020 epidemic brings us new challenges. In terms of investment, the key words are tourism plus. “Tourism Plus Technology” improves tourism experience, “Tourism Plus New Tools” improves operational efficiency, “Tourism Plus New Channels” improves promotion efficiency, and “Tourism Plus Big Data/ AI” empowers all aspects of tourism.”

Live Photo of the Forum “Reorienting Tourism Investment and Recasting the Industry”

At this forum, H.E. Mr. Parakhat Durdyev, Ambassador of the Republic of Turkmenistan to China; Mr. Na Shuchen, Director- General of Hebei Provincial Department of Culture & Tourism; Mr. Zou Feng, Managing Partner of Tourism Capital; Mr. Zhang Hui, Chairman of Palm Investment; Mr. Eddie Chen, Managing Director and Head of China & Asia, EURAZEO and other participants responded to the demand for structural changes brought about by the epidemic. They actively discussed the reformative direction of investment and financing after the epidemic, and focused on the reshaping of the main body and content of the industry.

Signing Ceremony

At the Tourism Investment Workshop, for the 22 participating projects, the screening of the fund companies of the investment branch concluded on amiable terms before the conference. 26 fund managers from 19 companies held on-site talks with representatives of these project parties. A project signing ceremony was also held at the conference site. 5 representative projects, namely Qingdao Daze Mountain Scenic Area Project, Zhejiang Lanxi International Yacht Town Project, International Music City Project, Safety Culture Experience Center Complex Project and Baihewan International Leisure Town Phase I Project, were especially invited to sign contracts on site. At present, the conference witnessed 21 potential signing projects with a total value of 15.71 billion yuan.

Live Photo of the Tourism Investment Workshop

As the sponsor of this conference，the WTCF was established in 2012. It is the world’s first international tourism organization focusing on cities under the initiative of Beijing. Guided by the core vision of Better City Life through Tourism, WTCF constructs a platform for its members to exchange experience, reinforce cooperation and build a consensus. WTCF hopes to promote the recovery of the tourism industry in the context of the COVID-19 outbreak, makes constructive projections for the tourism industry, and plays a pivotal role in promoting the revival and development of the sector by combining diverse views of all parties.