The Global Tourism Economy Forum (GTEF) is a leading international exchange platform designed to promote sustainable development of the global tourism industry with a focus on China. Established in 2012 and located in Macao, the southern gateway of China, GTEF takes advantage of Macao’s proximity to China, its strategic position in Asia, and its forerunner position in the region’s burgeoning tourism economy to connect governments and industry players from Mainland China and around the world to bring about extensive and rewarding opportunities for tourism promotion, investment and cooperation.
A multi-purpose platform, GTEF not only brings together international government and industry leaders, experts, scholars and related industry partners to engage in discussions and debates about opportunities and challenges in the global tourism economy; it also provides the perfect environment for stakeholders in the tourism and related industries to explore the real opportunities that underlie China’s international and regional integration policies, to network and to engage in business-matching and privately-scheduled meetings that are conducive to business leads and new partnerships.
The world is changing at an astonishing pace. Asia, in particular, has been at the forefront of this transformation and intense growth. One of the characterizing phenomena of the period is a proliferation of tourists driving not only domestic travel, but also global movement of people. With the increased wealth from the East, the travel industry is quickly adjusting and adapting to the new market dynamics, not only to attract visitors to destinations overseas, but also harness investment opportunities from within source markets, such as China.
With its unbeatable location at the gateway to China as well as its leadership position in Asia’s booming tourism economy, Macao is a natural choice for hosting the first Global Tourism Economy Forum.
Over the past decade, Macao has grown at a miraculous pace, with the tourism industry powering this transformation. Comprising a population of over 640,000, Macao has welcomed 30 million visitors, spending over USD 6.78 billion in the year 2016.
One major reason for Macao’s success is its unique status as China’s only destination for legalised gaming. Fuelled by China’s flourishing wealth and liberalisation, Macao overtook Las Vegas in terms of total gaming revenue in 2006 to become the largest gaming economy in the world.
With the foundations of Macao’s tourism industry firmly in place, the Government of Macao SAR in 2011 launched a directive to add further impetus to the growth of the city’s travel and leisure sectors, including subsidies to local tourism-related businesses. Macao seeks to fully harness its competitive advantages to optimise and internationalise its tourism economy. Cooperation among organisations and regions is vital to improving and expanding the tourism industry across Asia for the benefit of all.
For international stakeholders keen to establish a presence in this part of the world, the Forum is a comprehensive window into the large China market. Delegates will also have the opportunity to gain recognition from government authorities and other global tourism trade leaders, facilitating the development of mutually rewarding relationships.