Luxury Travel’s True Impact on Business & Employment
International Luxury Travel Market (ILTM) – the world’s largest portfolio of luxury travel events – has commissioned a white paper to support the true value of luxury travel to small, medium sized and large businesses across the world. The report by Barton Consulting brings clarity to the numbers of people employed – 90% of whom are working within small businesses or individual operations – and the contribution high net worth (HNW) travelers make to every sector. The report is further explained in a podcast entitled ‘Luxury Travel’s true impact on business and employment’ in which I briefly participated in.
Alison Gilmore, Portfolio Director for ILTM says, “The challenge of COVID-19 has brought the realities of our world into sharp focus and none more so than our international inter-connectivity and dependence on the freedom to travel. The travel industry is one of the greatest catalysts for this globally-linked system and is also a far greater mechanism for the dispersal of wealth to local economies than has been recognized until now.”
In the podcast, the report’s author, Barton’s Winston Chesterfield, explains how so few can make such a big economic impact by spreading their wealth to benefit local economies, communities, individuals and businesses. He explores how these individuals will be the first to kick start the industry post COVID-19 and why the wealth they control is vital to #keeptheworldmoving.
Download the full report.