Tourism SME productivity could create a major economic opportunity as new research
estimates that a 10% improvement could generate an additional $63 billion in direct travel and
tourism GDP across eight major economies. The World Travel & Tourism Council (WTTC) has
announced plans to support one million small and medium-sized enterprises through its
Together in Travel initiative. The programme aims to help smaller tourism businesses improve
their performance and find new opportunities for growth.

The initiative was announced during the WTTC Global Summit in Malta on October 8, 2026. It
aims to make useful business information more accessible to tourism companies. Businesses
will receive free research and practical guidance while gaining opportunities to connect with
industry professionals. These resources are designed to help business owners make better
decisions and overcome common challenges.

The research found that even a 5% improvement in productivity could generate an additional
$31 billion in direct travel and tourism GDP. This shows the potential benefits of helping smaller
businesses operate more efficiently. According to WTTC, small and medium-sized enterprises
represent more than 85% of travel and tourism businesses worldwide. They support local
communities and provide jobs while helping visitors enjoy unique experiences.

WTTC President and CEO Gloria Guevara said smaller businesses are essential to the travel
and tourism industry. She explained that these companies support communities and help spread
tourism benefits across different destinations. She also said the research would guide WTTC’s
discussions with governments and international organisations. These discussions will focus on
skills development and access to finance alongside digital technology and market opportunities.
During the summit, industry leaders discussed how smaller tourism companies could respond to
technological and environmental changes. Participants included Matthew Upchurch of Virtuoso
and Andrea Grisdale of IC Bellagio. Julian Kassum from the International Chamber of
Commerce also joined the discussions. They highlighted the importance of better access to
funding and technology while encouraging stronger partnerships between businesses and
governments.

WTTC is also examining the challenges faced by tourism SMEs through research conducted
with GSIQ. The study includes more than 800 business leaders across seven markets. Its
findings are expected to identify the areas where businesses need additional support. This
information could help policymakers and industry organisations develop more useful business
support programmes.

As part of the initiative, Together in Travel is developing a free platform for tourism businesses.
It will provide industry information and educational resources while helping members connect
with experts and other business owners. WTTC has also partnered with the International
Chamber of Commerce to strengthen support for smaller companies. The agreement was
signed in Paris on October 2, 2026, and focuses on research and knowledge sharing alongside
business engagement and policy advocacy.

WTTC aims to help one million tourism businesses benefit from the initiative over five years.
Better access to knowledge and professional connections could help companies improve their
services and compete more effectively. The estimated $63 billion opportunity is based on a
productivity scenario rather than a guaranteed financial result. The research covers eight
economies and measures direct travel and tourism GDP rather than the industry’s entire
economic contribution.

Source: World Travel & Tourism Council (WTTC)

Razia khan