The World Tourism and Tourism Industry Council (WTTC) held the "Sustainable Development and Investment Summit" in Puerto Rico on June 14, discussing topics such as sustainable financing, climate crisis, circular economy and consumption patterns, working with communities, inclusion and diversity, etc., covering a series of sustainable Development Goals of the United Nations. It covered a wide range of topics and was attended by nearly 50 speakers representing different sectors of the public and industry, demonstrating the organic collaboration between the public and private sectors and one of the key factors in realizing the full potential of tourism in the Caribbean. More than 50% of the 50 speakers were female, once again demonstrating the important role of women in international tourism.

The WTTC also released several studies on the same day, starting with data of diverse and regional country from the Economic Impact Reports. Figures of the Caribbean region show that tourism in the region began to recover last year, contributing 36.6% to GDP and accounting for 9.1% of the total economy.

THE second WTTC report is TRAVEL & TOURISM IN THE CARIBBEAN Prospects for Growth. Eight of the 10 most tourism-dependent countries in the world in 2019 were in the Caribbean, the report said. Tourism in the Caribbean grew at an average annual rate of 3 per cent, outpacing the region's economic growth of 1.3 per cent but still lagging behind the global average of 4.2 per cent.

But Caribbean tourism has a lot of potential and is likely to reach $96.6 billion in 2032, up from $50.5 billion in 2022. A key message from the summit was that if the public and private sectors in the region continue to strengthen regional cooperation and speak with one voice, the tourism industry could grow by an average of 4.5% a year and create 1.34 million new jobs by 2032.

The third report, ENHANCING RESILIENCE To Drive Sustainability, was published by THE WTTC and ICF. On page 34, the report describes resilience and how it supports the sustainability of destinations. The report also uses 12 cases to illustrate the resilience of destinations in multiple sectors (resource, social, economic, environmental, climate, infrastructure, etc.). Puerto Rico's case illustrates how and what was learned from the environmental crisis and economic challenges following the 2017 hurricane.

Image provided by WTTC