Euromonitor International proudly supports the World Economic Forum (WEF) as an official data partner for the Travel & Tourism Development Index (TTDI).
It is no secret that COVID-19 has had a devasting impact on travel and tourism. While recovery is picking up at different speeds around the world, businesses today are facing entirely new challenges. The war in Ukraine is creating further economic instability, while the industry is dealing with increased pressure from consumers to provide sustainable travel options.
Businesses and governments need to build greater resilience. Creating a sustainable tourism model cannot be achieved in silo. It requires industry-wide collaboration.
That is why Euromonitor International partnered with the World Economic Forum to contribute to a strategic benchmarking tool. This measures the factors and policies that enable sustainable and resilient travel and tourism development, which in turn, contribute to the development of a country.
Businesses can use this tool to understand the strengths and weaknesses of markets and justify investments in the travel and tourism space. It is an opportunity to enhance sustainability, inclusivity and resilience to build a better tomorrow.
Leading countries in the Travel & Tourism Development Index 2021
Note: #1 represents the best-performing country
Source: World Economic Forum
Want to see the full list? You can access it here.
Movers and shakers
Japan tops the leader board in the Travel & Tourism Development Index, followed by the US and Spain in 2021. Italy was a new entrant in the top 10 in tenth place.
Vietnam (#52), Indonesia (#32) and Saudi Arabia (#33) were the most improved in the index, making the biggest strides in their rankings compared to their peers. Malaysia (#38), India (#54) and Mongolia (#84) witnessed the highest levels of decline.
Most improved in the Travel & Tourism Development Index
Note: Percent increase 2019-2021 and rank 2021
Source: World Economic Forum
Only 39 out of 117 countries increased their score by over 1% in their rank positions, compared to 27 countries declining by over 1%.
In 2021, most countries witnessed high levels of stagnation, but there is potential for growth due to shifting demand dynamics. The index tells you which countries are ahead in enabling travel and tourism development, building resilience and preparing for future challenges and risks.
Accelerating new business models
The World Economic Forum previously warned that travel and tourism could reach a tipping point. The pursuit of endless growth and competitiveness would come at the expense of the environment and cultural assets that the sector depends on.
Travel and tourism plays a pivotal role in broader economic and social development. Driving inclusive economic growth, cultural exchange and job creation as well as protecting the environment, biodiversity and communities will futureproof the sector. From domestic and nature-based tourism to digital nomads and “bleisure”, the sector has opportunities to explore.
Next steps
Further insight can be gained by downloading the full report, Rebuilding for a Sustainable and Resilient Future, or take a deeper look at the Travel & Tourism Development Index.
If you would like to learn more about Euromonitor International's travel insights or its partnership with the World Economic Forum, please contact Caroline Bremner, Head of Travel Research at Euromonitor International at caroline.bremner@euromonitor.com.