European Tourism Manifesto – call for action: speed up social and economic recovery by fostering sustainable tourism development
According to the European Commission’s Communication ‘Europe’s moment: Repair and Prepare for the Next Generation’, travel and tourism is one of the most affected ecosystems by the COVID-19 pandemic and requires € 161 billion worth of investment to bounce back to pre-crisis levels. The new Recovery and Resilience Facility, proposed by the Commission to help the EU rebuild after the pandemic, offers an unprecedented opportunity to support tourism and ensure that the sector helps to drive digital and green transitions, and thereby strengthens both economic and social resilience.
The aim of the Recovery and Resilience Facility is to provide large-scale financial support for reforms and investments undertaken by Member States, to mitigate the economic and social impact of the coronavirus pandemic, making the EU’s economies more sustainable and resilient. In order to benefit from this unprecedented funding opportunity, Member States must submit to the Commission as from 15 October 2020 (until April 2021) their draft recovery and resilience plans outlining national investment and reform agendas in line with the twin strategic objectives: digitalisation and sustainability.
Why invest in tourism?
MULTIPLIER EFFECT: Tourism is transversal and its extensive value chain touches upon multiple sub-sectors
● Travel and Tourism is a healthy and growing sector that has been expanding in the last 30 years. Europe is the number one tourism destination worldwide, holding half of the global market share of international tourism.
● In the EU, the sector accounts for more than 9.5% of the GDP, provides jobs to 22.6 million people and has direct impact on transport, retail, agro-food industry, and the wider economy.
● 1 EUR of value generated by tourism results in additional 56 cent of added value in indirect effect on other industries.
Read the full paper here.