WTTC is considering moving its headquarters out of the UK

The World Travel & Tourism Council (WTTC), which represents the global private sector of the tourism industry, announced that it is considering moving its headquarters out of the United Kingdom.

The Board of Directors of the organization endorsed a plan designed to ensure that the entity continues to play a leading role in international tourism and maintains its commitment to long-term sustainable growth.

As part of this process, the WTTC is evaluating potential locations for its new headquarters, including Italy, Spain and Switzerland, and has begun an internal analysis phase with its team currently based in London.

The Chairman of the WTTC Board of Directors, Manfredi Lefebvre, explained that the decision stems from a strategic review driven by changes in the European economic and political environment.
“The WTTC is a member-centric organization, and therefore we are exploring all options for our future structure. Brexit is one of the main factors in the decision to potentially move our headquarters beyond the UK. The benefits of a European headquarters include lower operating costs, access to the European Union's single market, and the ability to attract multilingual talent,” he stated.

Lefebvre also emphasized that the research and support services the WTTC provides to its members, governments, and industry stakeholders will remain a priority. “We are confident that we can attract top talent in the European market, thereby strengthening our services globally,” he said.

According to the latest WTTC reports, the travel and tourism sector is projected to contribute $11.7 trillion to global GDP by the end of 2025, equivalent to 10.3% of the total. It is also estimated to generate 371 million jobs, representing 11% of global employment, or one in three new jobs created worldwide.

Source: World Travel & Tourism Council (WTTC)