As an international exchange platform, Global Tourism Economy Forum (GTEF) promotes sustainable development of the global tourism industry with a focus on China. GTEF engages public and private sector stakeholders from around the world in high-level exchanges on timely and thought-provoking subjects. The Forum also creates extensive and rewarding opportunities for tourism promotion, investment and cooperation.
Established in 2012 and located in Macao, the southern gateway of China, GTEF takes advantage of Macao’s proximity to China, strategic position in Asia, and forerunner position in the region’s burgeoning tourism economy, connecting governments and industry players from Mainland China.
WHY CHINA? WHY MACAO?
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.