TOURISM LEADERS MEET IN PARIS TO DEVELOP FUTURE FOR INDUSTRY

LONDON (APROTEXT) May13th, 2002 - Sixty of the mostinfluential business executives in the travel and tourismindustry will converge on Paris for the World Travel & TourismCouncil's 2002 Annual General Meeting on Friday 17 May 2002, todevelop a clear vision for the future of the travel and tourismindustry around the world. The chief executives, representingsome of the world's leading companies operating in the traveland tourism industry, and all members of the private sectororganisation, World Travel & Tourism Council (WTTC), will meetto exchange ideas, challenge current industry ideology anddevelop a framework for the continued prosperity of the industryfor the future, and its commitment to sustainable growth. Jean-Claude Baumgarten, WTTC President believes 2002 is one of themost critical years in the history of the industry, in that itis facing remarkable challenges and opportunities for the future."This year's conference will be extremely valuable not only tothe members of WTTC, but to the entire travel and tourismindustry around the world," says Baumgarten. "It is a time totake stock, not only of how far we have come, but how far wewant to go in the future, and in what shape we want that processto take," he says. The conference which is entitled "Toward aNew World Order?",sets out to challenge some of the commonlyheld beliefs the industry has developed over the past severalyears, and examine the feasibility of a new long-term frameworkacross all sector areas. WTTC has been instrumental in workingwith governments to address problems and provide solutions forthe travel and tourism industry following the dramatic impact ofSeptember 11. Research recently produced by WTTC, TourismSatellite Accounts, shows the worldwide industry has sufferedbadly due to the global impact of September 11, with anaccumulative loss of 7.4 per cent in travel and tourism demand,and the loss of 10 million job equivalents, in years 2001 and2002. But WTTC expects the industry will rebound in 2003 with amassive growth rate of six per cent after a year ofstabilisation and recovery in 2002. Baumgarten says a massiveworldwide rebound will occur in 2003 with global travel andtourism demand forecast to increase in real terms by six percent. "During this process we will see the creation of 6.8million jobs, replacing most of the business and jobs lost in theextended wake of September 11," he says. The research alsoshows a strong positive growth trend for the industry over thenext decade with long-term annual growth at 4.5 per cent for theglobal industry. During the AGM the Council will launch four newresearch reports on the following hot topics facing theindustry: Taxation Policy; Infrastructure; Human Resources; andInformation Technology/E-commerce. The reports are the productof twelve months of work by WTTC taskforce initiativesestablished during the 2001 AGM, comprising a mix of industryleaders - WTTC members, academics and government officials. Thereports will be available for free download as part of itscontinued drive to further industry excellence for all playersworking in the industry (www.wttc.org). The Council will alsodeliver its long-term strategy for corporate social leadershipwithin Travel & Tourism, and outline how the industry can act asa mechanism to bridge the gap between the "have and have not's".The World Travel & Tourism Council (WTTC) is the forum for globalbusiness leaders in travel and tourism comprising thepresidents, chairs and CEOs of 100 of the world's foremostcompanies. It is the only body representing the private sectorin all parts of the travel and tourism industry worldwide. TheWorld Travel & Tourism Council will hold a press conference at1100h on Friday 17 May 2002, where WTTC President, Jean-ClaudeBaumgarten, will outline the work of the organisation over thepast twelve months and its strategy for the medium and longerterm. Venue: Sofitel, Champs Elysees, 8 rue Jean Goujon 75008Paris For more information or to register for the pressconference contact: Scott Mills Director, Communications - WorldTravel & Tourism Council Tel: + 44 (0) 870 727 9882 or + 44 (0)20 7481 8007 Fax: + 44 (0) 870 728 9882 or + 44 (0) 20 7488 1008;Email: scottm@wttc.org

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