Designed to promote the sustainable development of the global tourism industry, the Global Tourism Economy Forum (GTEF or the Forum) has become a leading international platform since its inauguration in 2012. Chinese Premier Li Keqiang cited it as one of the major initiatives of the Macao SAR Government that the Central Government fully supports. The Forum brings together policy makers, academics, corporate leaders, and entrepreneurs from China and around the world to explore opportunities and challenges in the global travel economy.
Key Leader in Global Inbound and Outbound Tourism
China maintains its position as a top destination for inbound tourism. China’s Ministry of Culture and Tourism reported that there were 141 million inbound visitors to the country in 2018, bringing with them USD $127.1 billion in revenue. Chinese travelers took 5.5 billion domestic tourism journeys, an increase of almost 11% from the previous year. China also continues to lead global outbound travel. In 2018, there were nearly 150 million Chinese outbound tourists, generating more than USD $277 billion in expenditure to destinations around the world. As an international platform for sustainable tourism development with a focus on China, GTEF features leaders in public, private, and academic sectors who will shed light on the emerging trends in the China-led inbound and outbound tourism market.
“One-Centre – One Platform – One Base” Strategic Positioning in the Greater Bay Area
The Greater Bay Area, an initiative joining 11 cities along China’s Pearl River Delta, is increasingly viewed as one of the world’s socio-economic zones and is a key node in the Belt & Road Initiative. With a total area of 56,000 squared km, the area has a population of over 71 million and GDP of USD $1,642.5 billion at the end of 2018.
Located in the center of the Greater Bay Area, Macao has transformed itself into a world-class tourism and leisure centre. Furthermore, Macao serves as the commerce and trade cooperation service platform between China and Lusophone countries as well as a base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist. The strategic positioning of Macao in the greater context of China makes it the prime location for the annual gathering of leaders from all sectors to discuss the sustainable development of the tourism economy.