2024-11-03
October 30, at the WTA · Xianghu Dialogue 2024 in Sanya, Hainan, Ms.Pansy HO, WTA Vice Chair, Vice Chairman and Secretary, General of the Global Tourism Economy Forum (GTEF) and Executive Chairman and Managing Director of Shun Tak Holdings Limited, delivered a keynote speech on "A Win-Win Symbiosis — Embrace the Future of Tourism Economy". Below is a summary of the key points discussed.
As we approach 2025 with only two months left, the Hainan Free Trade Port is set to officially launch its island-wide customs clearance closure operations on schedule. This milestone will undoubtedly inject significant momentum into the tourism industry. Policies such as "Zero-tariff" and greatly relaxed market entry requirements are already attracting pioneers from the global tourism sector. The World Tourism Alliance (WTA) has seized this opportune moment by organizing the "WTA • Xianghu Dialogue", bringing us together here in Sanya to collectively shape a promising future for tourism. This landmark event presents unprecedented opportunities for the tourism industry and is propelling its transformation and advancement.
In 2023, we have already witnessed a full-scale recovery in global tourism, once again emerging as a powerful economic driver. This sector generated close to $10 trillion in economic value, just 4% below pre-pandemic levels. As we move into 2024, the outlook for the industry remains positive, with tourism’s contribution to global GDP projected to exceed $11 trillion. We are witnessing profound shifts in the tourism landscape, reflected in evolving traveler demands, changing preferences, and updated habits. Today’s travelers are increasingly seeking comprehensive, immersive, and culturally rich experiences. Consequently, tourism products must be more integrated, diverse, innovative, and distinctive.
For the tourism industry, these shifts present both complex challenges and opportunities. To embrace these changes, we can leverage the concept of "Tourism+" to foster cross-sector and cross-regional experiences. This approach will create a win-win, symbiotic tourism ecosystem, stimulate growth in the sector, and make a greater contribution to economic development. Taking Hainan’s development as an example, it is imperative for the tourism sector to build a strategic vision that highlights its unique strengths while aligning with the free trade port’s goals. By implementing the “Tourism+” development model, Hainan can explore more distinctive elements and create unique tourism products that robustly expand the economic value chain. Take, for instance, the field of marine biotechnology. Specifically, leveraging advancements in marine biotechnology, Hainan has pioneered innovative wellness tourism products, offering distinctive and differentiated experiences. This path has carved a niche for the transformation from scientific research to beauty and wellness consumer products.
Launched in 2022, the China Hainan International Cultural Relics and Art Exchange Center embody the “Tourism+” philosophy. This project aims to integrate resources across culture, technology, finance, and tourism, providing comprehensive services for the entire industry chain. It combines various segments, including exhibitions, auctions, logistics, artifact restoration, and creative industries, to create an art industry park and diverse tourism products and routes specifically for art enthusiasts. This center aims to become a new global focal point for the art industry.
The concept of a tourism ecosystem is further enriched by cross-sector expansion. For instance, the Sanya Demonstration Zone for Hong Kong-Hainan Economic Co-operation integrates modern service industries such as gold and jewelry, commercial finance, retail trade, professional services, high-end healthcare, leisure tourism, and cultural and film industries. This collaboration creates an ecosystem that bridges Hainan’s tropical paradise with Hong Kong’s professional advantages, fostering a deeper integration of tourism, culture, and business, which, in turn, drives mutual growth. This endeavor not only solidifies the strengths of both Hainan and Hong Kong but also highlights the power of collaboration, creating a vibrant regional economic development hub.
Looking ahead, the "One Journey, Multiple Destinations" model is gradually becoming a mainstream trend in the tourism industry. From a macro perspective, the cooperation between Hainan and Hong Kong is fostering closer connections between the Greater Bay Area and Hainan. By leveraging complementary strengths in culture, urban planning, and development strategy, the Greater Bay Area and Hainan are well-positioned to become ideal partners for realizing the “One Journey, Multiple Destinations” model. As cooperation between the Greater Bay Area and Hainan deepens, tourism will naturally become a bridge linking domestic and international markets. With these new growth points and extended routes, Hainan is gradually building a new economic ecosystem that will drive comprehensive prosperity across the entire region.