Another Brexit is being considered as the World Travel and Tourism Council (WTTC) evaluates moving its headquarters out of the UK.
This would be a historic change for the organization, which has never relocated before.
Currently, the WTTC Board is working on strategies to maintain its influence in global travel and tourism regardless of the new location of its headquarters.
They are looking at options in Italy, Spain, and Switzerland and are consulting with staff based in London.
In a projection for 2025, the travel sector is anticipated to generate $11.7 trillion, accounting for around 10.3% of global GDP, and providing 371 million jobs, or 11% of total employment.
The work continues
Chairman Manfredi Lefebvre remarked on the potential move: “WTTC is a member-centric organization, and we owe it to our members to consider all possibilities for our future structure. The implications of Brexit have influenced our decision, as a European headquarters could offer lower operational costs and access to a diverse talent pool within the EU.
He emphasized that WTTC’s commitment to providing high-quality research services for its stakeholders will remain strong.
In conclusion, Lefebvre added: “We are optimistic about attracting talented individuals in the broader European market to support our global membership services.”