The World Economic Forum has released its 2024 report analyzing the travel and tourism competitiveness of economies worldwide. Among the findings, emerging market countries such as Albania, Tanzania, Indonesia, Egypt, and El Salvador have shown significant improvement in enabling travel and tourism development since 2019. These countries have made strides in various areas, such as marketing their attractions, boosting domestic tourism, and investing in infrastructure to support the industry.
Albania has risen 12 spots in the Travel and Tourism Development Index to 66th place, showcasing its efforts in marketing its white-sand beaches and dramatic mountains. Indonesia has jumped 14 places to 22nd place, with government initiatives like the Karisma Event Nusantara program and seeking outside investment to develop tourism infrastructure. Egypt has climbed five spots to 61st place and aims to double its tourism figures by 2028 through adding hotel rooms and expanding the industry.
Tanzania has moved up seven places to 81st in the rankings, with tourism revenue contributing significantly to the conservation of landscapes and wildlife. President Samia Suluhu Hassan’s involvement in promoting the country for tourism investment has been key, with projects like the Four Seasons Resort Zanzibar in the pipeline. El Salvador is the fastest-growing performer in the Americas, rising four spots to 97th place, driven by a 43% increase in foreign visitors and a boost in foreign exchange revenue.
Despite the progress made by these emerging economies, the World Economic Forum highlights the need for a strategic approach to sustain and further growth in the travel and tourism sector. They recommend a focus on developing favorable business, health, and labor conditions, enhancing infrastructure, and promoting natural and cultural resources. Collaboration and big-picture thinking are essential as destinations face challenges like skilled labor shortages and climate change impacts. The full WEF tourism report provides additional insights and recommendations for industry stakeholders to consider in driving future growth.
