Another Brexit is in the works as the World Travel and Tourism Council (WTTC) mulls over moving its head office out of the United Kingdom.
This will mark the first time in its history that the global authority on the economic and social impact of the travel and tourism sector moves to a new location.
As of press time, the WTTC Board has already endorsed a plan to ensure that the organisation continues to play the leading role in global travel and tourism and advocate for long-term, sustainable growth in the sector regardless of where it opts to set up its new headquarters.
Quo vadis, WTTC?
WTTC is considering whether to locate its headquarters in Italy, Spain, or Switzerland, and has begun an evaluation assessment and is consulting with all of its staff currently based in London.
The Council’s own statistics show that, in a forecast for calendar year 2025, the sector is expected to be worth US$11.7 trillion, or 10.3 percent of global GDP.
The industry also accounts for 371 million jobs, or 11 percent of total employment, as it hires one in every three new jobs created globally.
The work goes on
WTTC chair Manfredi Lefebvre said of the potential move: “WTTC is a member-centric organisation and we owe it to members to explore all the options for our future structure. Brexit is one of the main factors in our decision to potentially move our headquarters beyond the UK. The benefits of a European head office include lower operational costs, EU single market access and recruitment flexibility of a multi-lingual talent pool.”
Lefebvre added that the high standard of research services its members, governments, and international stakeholders receive will continue to be at the forefront of the WTTC’s work.
He concluded by saying: “We are confident we will attract high-quality talent in the wider European market, for all of our services to members globally.”
