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10th Global Tourism Economy Forum, Macao 2023 concludes with a successful summit

By Localiiz Branded | 29 September 2023

Header image courtesy of Global Tourism Economy Forum

Since its first edition in 2012, the Global Tourism Economy Forum (GTEF) has had one goal in mind— to promote the sustainable development of the international tourism industry. Throughout the four-day event at the Galaxy International Convention Centre in Macau from 20 to 23 September 2023, the topics of sustainability and international cooperation were raised as possible strategies for tourism’s recovery in Macau and beyond. Here’s a recap of what happened at the forum.

Photo: Global Tourism Economy Forum 

The opening ceremony kicked off the conference with speakers and an audience of prominent executives, ministers, industry leaders, scholars, and more joining from Macau and around the world. Themed “Destination 2030: Unlocking the Power of Tourism for Business and Development,” GTEF 2023 tried to find new ways of reviving global tourism with sustainability as a guiding principle. Keynote speeches, fireside chats, and seminars attended by industry experts discussed topics such as post-pandemic trends and practical solutions and strategies for a better tourism.

At the “Towards Destination 2030: Investing in People, Planet, and Prosperity” talk, speakers explored sustainable development and growth in the tourism industry, while “Tourism in the Next Decade: China and the World” focused on domestic tourism, niche trends, and how regional tourism is shaping the future of the industry. Other discussions centred on sustainable growth, the potential of rural and urban tourism, as well as international tourism patterns for Macau and Asia-Pacific.

Photo: Global Tourism Economy Forum 

Notably, “Sustainability in Focus: Navigating the Future of Tourism in Asia,” focused on sustainability and development goals in the international tourism industry and dove into Asia’s contributions to these transformations; “A Renewed Vision: Reshaping Tourism in Europe” explored ways in which cities can revamp regional and global travel in order to sustainably re-energise their respective tourist economies; while “Bridging Nations through Art and Culture”—led by international TV anchor Martina Fuchs—addressed a pressing demand to steer tourism away from financially-based activities in response to an increasing interest in regional cultural and artistic tourism.

With the world now almost completely dependent on technology, it seems fitting that the “Shaping the Future of Travel: The Transformative Power of Technology” panel discussion addressed such issues to talk about how advanced technology and tourism can both benefit one another.

Photo: Global Tourism Economy Forum 

GTEF 2023 also saw the return of its anticipated “Investment and Financing” conference. This year, the panel focused on Macau’s hospitality industry and the new investment opportunities the city offers, followed by presentations and meetings with tourism investment institutions from all around the world to explore investment and cooperation between international and local parties.

To celebrate the anniversary of GTEF and its decade-long contribution to the tourism industry’s development, a birthday lunch was held at the Wynn Palace, with officials taking to the stage to share their dedication to the forum, and the importance of international cooperation in tourism, economy, culture, and more. As the summit drew to a close, the success of the 10th Global Tourism Economy Forum is a testimony to its role and worldwide recognition in the tourism industry.

Global Tourism Economy Forum

Hosted by the Secretariat for Economy and Finance of the Macao SAR Government, in collaboration with the World Tourism Organisation (UNWTO), the Global Tourism Economy Forum has established itself as an influential high-level cooperation platform to promote sustainable development in the global tourism industry.