/var/www/wttc/public_html/bin/pdf/temp/finpp

CHAIRMAN:
Geoffrey J W Kent
Chairman & CEO
Abercrombie & Kent

VICE CHAIRMEN:
Peter R B Armstrong
President & CEO
Rocky Mountaineer Vacations

Edouard Ettedgui
Group Chief Executive
Mandarin Oriental Hotel Group

Maurice Flanagan CBE
Executive Vice Chairman
Emirates Airline & Group

Michael Frenzel
Chairman of the Executive Board
TUI AG

David Mongeau
Chairman
Avington

EXECUTIVE COMMITTEE:
Philippe Bourguignon
Vice Chairman
Revolution Places

Marilyn Carlson Nelson
Chair & CEO
Carlson

Alex Christou
Managing Partner
Accenture

Andrew Cosslett
CEO
InterContinental Hotels Group PLC

John Elkins
Executive Vice President
Visa International

Sebastián Escarrer
Vice Chairman & CEO
Sol Meliá

Manuel Fernando Espírito Santo
Chairman
Espírito Santo Tourism

Stephen P Holmes
President, Chairman & CEO
Wyndham Worldwide

Richard R Kelley
Chairman
Outrigger Enterprises Group

Manfredi Lefebvre D’Ovidio
Chairman
Silversea Cruises

J W Marriott, Jr
Chairman & CEO
Marriott International, Inc

Armin Meier
Group Chief Executive Officer
Kuoni Travel Holding Ltd

Alan Parker
Chief Executive
Whitbread plc

Gilles Pélisson
CEO
Accor

Charles Petruccelli
President Global Travel Services
American Express

Stevan Porter
President, The Americas
InterContinental Hotels Group PLC

Christopher Rodrigues CBE
Chairman
VisitBritain

Jeffrey C Rutledge
President
AIG Travel, Inc

Jyotsna Suri
Chairperson & Managing Director
Bharat Hotels Ltd

Ian Swain
President
Swain Tours

Jonathan M Tisch
Chairman & CEO
Loews Hotels

Brett Tollman
The Travel Corporation

Vincent A Wolfington
Immediate Past Chairman WTTC
Chairman Emeritus
Carey International, Inc

GLOBAL MEMBERS:
Mohammed Al Habbai
CEO
Dubailand

Eric Anderson
President & CEO
Space Adventures

Ron Andruff
President
Tralliance Corporation

Giovanni Angelini
CEO & Managing Director
Shangri-La Hotels & Resorts

Ted J Balestreri
Chairman & CEO
Cannery Row Company

Simón Barceló Vadell
Chairman & CEO
Barceló Hotels & Resorts

Raymond Bickson
Managing Director
Taj Hotels, Resorts and Palaces

Stephen Bollenbach
Co-Chairman & CEO
Hilton Hotels Corporation

Giorgio Boscolo
CEO
Boscolo Group

Rattawadee Bualert
President
lebua Hotels & Resorts Co, Ltd

Chris J Cahill
President & COO
Fairmont Hotels & Resorts

Jeff Clarke
President & CEO
Travelport

David Clifton
Managing Director, EMEAA
Interval International

Jim Compton
Senior Vice President, Marketing
Continental Airlines

Fernando Conte
Chairman & CEO
Iberia, Airlines of Spain

Robert Darbelnet
President & CEO
AAA

Rakesh Gangwal
Chairman, President & CEO
Worldspan

Laurence Geller
President & CEO
Strategic Hotels & Resorts

Sam Gilliland
Chairman & CEO
Sabre Holdings

Naresh Goyal
Chairman
Jet Airways India Ltd

Arthur de Haast
Global Chief Executive Officer
Jones Lang LaSalle Hotels

Sir Stelios Haji-Ioannou
Chairman & Founder
easyGroup

Pansy Ho
Managing Director
Shun Tak Holdings Limited

James Hogan
CEO
Etihad Airways

Raimund Hosch
President & CEO
Messe Berlin GmbH

Larry Kellner
Chairman & CEO
Continental Airlines

Dara Khosrowshahi
President & CEO
Expedia Inc

Nigel Knowles
Joint CEO
DLA Piper

Ali Kolaghassi
Vice Chairman & CEO
Saraya Holdings

RK Krishna Kumar
Vice Chairman
Taj Hotels, Resorts & Palaces

Michael Latimer
President & CEO
Oxford Properties Group

Gerald Lawless
Executive Chairman
Jumeirah Group

Jabu Mabuza
CEO
Tsogo Sun Group

André Martinez
Chairman Global Lodging &
Managing Director
Morgan Stanley

Khater Massaad
Chairman
Al Hamra Hotels Management Est

Geoff Muirhead CBE
Group Chief Executive
The Manchester Airports Group

John M Noel
President & CEO
The Noel Group
AIG Travel Guard

Tom Nutley
Chairman
Reed Travel Exhibitions

PRS Oberoi
Chairman
The Oberoi Group

Deepak Ohri
Managing Director
lebua Hotels & Resorts Co, Ltd

Jean Gabriel Pérès
President & CEO
Mövenpick Hotels & Resorts

Dionísio Pestana
Chairman
Group Pestana

Fernando Pinto
CEO
TAP Air Portugal

Wolfgang Prock-Schauer
Chief Executive Officer
Jet Airways India Ltd

Bob Puccini
CEO
The Puccini Group

Duan Qiang
Chairman
Beijing Tourism Group

David Radcliffe
Chief Executive
Hogg Robinson plc

Jay Rasulo
Chairman
Walt Disney Parks and Resorts

Robert Riley
Chief Executive Officer
Emaar Hotels & Resorts

Kurt Ritter
President & CEO
The Rezidor Hotel Group

Peter Rogers
President & CEO
Diners Club International

Marty Salfen
General Manager, Global Travel &
Transportation Industry
IBM

Per Setterberg
CEO
Global Refund Group

Sonu Shivdasani
Chairman & CEO
Six Senses Resorts & Spas

Regine Sixt
Senior Vice President
Sixt rent a car

David Stein
Chairman
The Stein Group

Barry Sternlicht
Chairman & CEO
Starwood Capital Group

Yassin K Talhouni
CEO
Zara Investment Holding Co Ltd

Jaume Tàpies
President
Relais & Châteaux

Andrew C Taylor
Chairman & CEO
Enterprise Rent-A-Car

Kathleen Taylor
President & Chief Operating Officer
Four Seasons Hotels & Resorts

José Antonio Tazón
President & CEO
Amadeus IT Group SA

Matthew D Upchurch
CEO
Virtuoso

Willie Walsh
Chief Executive
British Airways plc

James Wilson
Chief Executive Officer
Nakheel Hotels & Resorts Co LLC

Philip Wolf
CEO
PhoCusWright, Inc

Peter Yesawich
Chairman and CEO
Yesawich, Pepperdine, Brown &
Russell

Mei Yunxin
President
Beijing Tourism Group

Tim Zagat
Co-Founder, Co-Chair & CEO
Zagat Survey LLC

Sarmad Zok
Chief Executive Officer
Kingdom Hotel Investments

HONORARY MEMBERS:
André Jordan
Chairman
André Jordan Group

Jonathan S Linen
Adviser to the Chairman
American Express

Lord Marshall of Knightsbridge
Chairman
Pirelli UK plc

Sir Frank Moore, AO
Chairman
FT Moore P/L

Frank Olson
Chairman of the Board
The Hertz Corporation

Gérard Pélisson
Co-Chairman, Supervisory Board
Accor

Carl Ruderman
Chairman
Universal Media

Tommaso Zanzotto
President
TZ Associates Ltd

CHAIRMAN EMERITUS:
James D Robinson III
General Partner
RRE Ventures
WTTC Chairman (1990-1994)

IMMEDIATE PAST
CHAIRMAN:
Vincent A Wolfington
Chairman Emeritus
Carey International, Inc
WTTC Chairman (2004-2007)

FORMER CHAIRMEN:
Sir Ian Prosser
Retired Chairman
InterContinental Hotels Group PLC
WTTC Chairman (2001-2003)

Harvey Golub
Retired Chairman & CEO
American Express
WTTC Chairman (1996-2001)

Robert H Burns
Chairman
Robert H Burns Holdings Limited
WTTC Chairman (1994-1996)

PRESIDENT:
Jean-Claude Baumgarten

©2007 WORLD TRAVEL & TOURISM COUNCIL
1-2 Queen Victoria Terrace, Sovereign Court, London E1W 3HA, United Kingdom
T: +44 (0) 870 727 9882 or + 44 (0) 207 481 8007 • F: +44 (0) 870 728 9882 or + 44 (0) 207 488 1008 • enquiries@wttc.travel • www.wttc.travel

Correct as of 15 April 2007

CHAIRMAN’S

FOREWORD

AS THE NEW CHAIRMAN OF THE COUNCIL AND ONE
OF ITS FOUNDINg MEMBERS, TAkINg OvER FROM
THE vERy SUCCESSFUL CHAIRMANSHIP OF vINCENT
A WOLFINgTON, I AM DELIgHTED TO HAvE THE
OPPORTUNITy TO DRIvE FORWARD THE COUNCIL’S
MISSION.

Through the 16 year trajectory of the Council we have witnessed and
experienced a whole spectrum of different challenges, in the face of
which the industry has pulled together and proved its determination,
innovation and resilience. According to the WTTC Tourism Satellite
Account model, Travel & Tourism will contribute 10.4 per cent of
global gross domestic product in 2007, and will be responsible for
231 million jobs worldwide.

These positive forecasts augur well for the future of Travel & Tourism, but there is no room for complacency.
Such rapid growth brings with it new challenges, such as the need to ensure capacity keeps pace with the growth
in demand. And this provides us with a timely theme for this year’s global Summit in Lisbon: Breaking Barriers,
Managing growth. The fast rate of change, coupled with the significant growth in Travel & Tourism demand, have
made much tourism-related infrastructure obsolete. The urgent need for an overhaul of ageing infrastructure and
the application of new technologies to facilitate major improvements can no longer be ignored.

While it is easy to identify the barriers to the sustainable growth of Travel & Tourism, the challenge for

decision-makers is to act swiftly and effectively to remove these barriers. Public and private sector partnership is
one of the most effective responses to many of the issues affecting our industry and the lives of all the people who
stand to benefit from Travel & Tourism.

More importantly, WTTC will further industry efforts to ensure the sustainability of our planet. Members

of WTTC and other Travel & Tourism leaders have already taken major steps to design physical assets, manage
operations and train their staff to adopt sustainable practices. WTTC will help to promote best practice examples
throughout the world and will play a bigger role in the global debate on climate change.

A new era has begun and, as always, Travel & Tourism will adapt to the ensuing changes, and our Council will

remain at the forefront of developments.

geoffrey J W kent

Chairman, World Travel & Tourism Council

Chairman & CEO, Abercrombie & kent

Jean-Claude Baumgarten

President, World Travel & Tourism Council

INTRODUCTION

OvER THE LAST TWO yEARS, THE WORLD TRAvEL
& TOURISM COUNCIL (WTTC) HAS WITNESSED THE
CONSOLIDATION OF TRAvEL & TOURISM gROWTH ON
A gLOBAL SCALE. NEW AND UNPRECEDENTED TRENDS
HAvE EMERgED FROM THE gLOBAL ExPANSION OF
OUR INDUSTRy IN vIRTUALLy EvERy REgION OF
THE WORLD. TODAy, ALMOST ALL ORgANIzATIONS
AND DESTINATIONS ARE REAPINg THE BENEFITS OF
THIS gROWTH.

More and more governments have recognized Travel & Tourism as
a dynamic engine of economic and social progress. In addition to our
work with governments across the world, we have noted growing
interest and recognition from participants at WTTC events and from
readers of our publications, as well as a significant increase in visitors
to our website.

WTTC’s Tourism Satellite Account research continues to provide business, analysts, public sector officials, academia
and the media with valuable information and forecasts of Travel & Tourism performance for 176 countries, regions
and the world overall.

In response to the sharp increase in media coverage, interviews and articles referring to our research, WTTC

has introduced a new economic research tool, available online at www.wttc.travel, providing users with instant
access to Travel & Tourism data on demand and at no cost.

As the voice of the global Travel & Tourism industry, WTTC invests much of its time and resources in

communications across the globe. We have introduced a new series of events, meetings, press conferences and
publications to raise awareness of the economic and social importance of Travel & Tourism at global, regional,
national and local levels.

After last year’s successful global Travel & Tourism Summit in Washington DC, our 2007 Summit, taking

place in Lisbon, will be the starting point for our new communications efforts. In addition to our core messages
concerning the importance of our industry to different economies worldwide, WTTC will be communicating
much more actively on issues related to the environment and infrastructure needs. Our communications methods
are becoming more and more interactive via this year’s new online web forum facility annexed to our Summit
website. Through this interactive channel we can canvass opinion on the most pressing topics confronting the
industry.

We look forward to engaging with you on the infrastructural and environmental challenges facing the

industry.

WORLD TRAvEL & TOURISM IS ExPECTED TO gENERATE IN ExCESS
OF US$7 TRILLION IN 2007, RISINg TO MORE THAN US$13 TRILLION
OvER THE COMINg DECADE, ACCORDINg TO THE WORLD TRAvEL
& TOURISM COUNCIL’S (WTTC’S) TOURISM SATELLITE ACCOUNT (TSA)
RESEARCH, SPONSORED By ACCENTURE AND PREPARED By OxFORD
ECONOMICS.

Travel & Tourism Satellite Accounting – the standardized United
Nations’ tourism measurement tool – provides WTTC with the
framework required to measure Travel & Tourism’s economic
impact on more than 176 countries, regions and the world.

DEMAND

Encompassing all components of Travel & Tourism
consumption, investment, government spending
and exports, in 2007 Travel & Tourism Demand
is expected to generate some US$7,060 billion of
economic activity worldwide, growing to US$13,231
billion by 2017.

gDP

The world’s Travel & Tourism Industry is expected
to contribute 3.6 per cent to gross domestic product
(gDP) in 2007 (US$1,851 billion), rising in nominal
terms to US$3,121.7 billion (3.4 per cent of total
gDP) by 2017. The broader perspective of the Travel
& Tourism Economy, which includes the direct
and indirect impact of our industry, is expected to
account for 10.4 per cent of global gDP (equivalent
to US$5,390 billion), rising to 0.7 per cent (US$9,781
billion) over the next ten years.

EMPLOyMENT

In 2007, world Travel & Tourism Economy
employment is estimated to reach 231.2 million
jobs, representing 8.3 per cent of total employment
worldwide (1 in every 12 jobs). By 2017, this figure
is expected to rise to 262.6 million jobs, accounting
for 8.3 per cent of total employment.

vISITOR ExPORTS

Expenditure by international visitors on goods and
services within an economy can have a significant
impact on the exports of that country. Of total world
exports, Travel & Tourism accounts for some 12 per
cent (US$1,847.8 billion) in 2007. Over the next
years, world Travel & Tourism exports are expected
to grow at a rate of 4.6 per cent per annum.

2007 HIgHLIgHTS

Focused on personal consumption, business spending, capital investment, government expenditures, gross
domestic product and employment – Travel & Tourism Satellite Accounting is perhaps the most important
recent development in the quest to assess Travel & Tourism’s contribution and future potential.

WTTC’s new TSA results point to a strong performance for global Travel & Tourism Demand in 2007,

growing at a rate of 3.9 per cent. Over the next ten years, world Travel & Tourism is expected to average 4.3
per cent per annum. In contrast to the steep curve experienced in 2006, 2007 is expected to be a year in which
growth stabilizes at a rate more commonly associated with a mature industry. The outlook is one of steady, but
healthy progress going forward.

ECONOMIES TO

WATCH

Over the next ten years considerable ground will be gained by China, which currently stands in third position
behind Japan and is forecast to move up to second position by 2017. This progression is buoyed by a percentage
growth in real terms of 9.6 per cent per annum over the next ten years.

By 2017 the Russian Federation will enter the top ten ranking in terms of total Travel & Tourism Demand

(absolute volume) for the first time since the TSA research was launched by WTTC.

Turning to WTTC’s research on the world’s strongest Travel & Tourism performers – defined as countries

set to grow the fastest in 2007 and over the coming decade – the results show that China, Montenegro and
India are at the top of the list, with Demand in the respective countries growing each year at a rate of 9.1 per
cent, 8.6 per cent and 7.9 per cent. These countries have consistently ranked in the top three positions over
the past four years, consolidating their growth year on year. Their strong foothold in terms of performance
is underscored by a sustained expansion in their Travel & Tourism industries as a result of focused strategic
development and targeted investment.

On the other hand, countries such as the Democratic Republic of the Congo and Chad, which also feature

in the top ten, owe their high rankings to a sudden or sharp rebound in their economies and Travel & Tourism
activity.

Other countries featured among WTTC’s high performers include Croatia, Romania and Namibia, all of

which are countries that recently adopted a simulated TSA, empowering them with an economic measurement
tool that can direct sound decision-making.

Our latest findings reveal that the world’s largest Travel & Tourism economies are holding
strong in the top ten ranking for 2007. The United States continues in its pole position
with Travel & Tourism Demand accounting for more than US$1,689.3 billion this year.

ON AN EMPLOyMENT SCALE:

Countries expected to generate the

largest amount (absolute terms) of Travel &

Tourism Economy Employment in 2017:

Travel & Tourism

Economy Employment 2017

(‘000 of Jobs)

1 China

75,710.2

2 India

28,322

3 United States

16,125.9

4 Japan

9,422.7

5 Brazil

7,773.2

6 Indonesia

6,853.9

7 Mexico

5,469.2

8 germany

4,962.8

9 Spain

4,858.5

10 Thailand

4,766.9

ON A RELATIvE SCALE:

Countries expected to grow their

Travel & Tourism Demand most rapidly

between 2007 and 2017 are:

Travel & Tourism Demand

2007 - 2017

% Annualized Real Growth

1 China

9.1

2 Montenegro

8.6

3 India

7.9

4 Croatia

7.8

5 Dem Rep of the Congo

7.8

6 vietnam

7.5

7 Romania

7.4

8 Namibia

7.1

9 Hong kong

7.0

10 Chad

7.0

ON AN ABSOLUTE SCALE:

Countries expected to generate

the largest volume of

Travel & Tourism Demand in 2017:

Travel & Tourism Demand

2007 - 2017

(US$ mn)

1 United States

3,067,977.0

2 China

1,571,015.0

3 Japan

981,437.6

4 germany

744,910.7

5 United kingdom

605,124.6

6 France

542,658.2

7 Spain

503,957.5

8 Italy

395,970.7

9 Russian Federation 324,352.7

10 Canada

311,412.6

WHEN CONSIDERED AS A SINgLE MARkET, THE
EUROPEAN UNION IS THE LARgEST TRAvEL &
TOURISM ECONOMy IN THE WORLD, REPRESENTINg
35.2 PER CENT OF gLOBAL MARkET SHARE. THE
EUROPEAN UNION’S TRAvEL & TOURISM ECONOMy
IS ExPECTED TO ACCOUNT FOR 10.9 PER CENT OF
gDP (US$1,767.7 BILLION) AND 25.7 MILLION JOBS (11.8
PER CENT OF TOTAL EMPLOyMENT) IN 2007.

EUROPEAN UNION

As one of the most important generators of employment and wealth across the European
Union, Travel & Tourism will play a significant role in the social and economic future of
EU countries.

Recent policy discussions and developments led by the European Commission and the Council of Ministers,
such as the EU/US Open Skies agreement, have a potential impact on Travel & Tourism activity across the
EU, both directly and indirectly. To measure and manage risks associated with Travel & Tourism (both positive
and negative), WTTC works together with experts, industry leaders and senior officials at national and EU
level. Our European Union Initiative, chaired by Dr Michael Frenzel, Chairman, TUI Ag, and comprising
WTTC Members such as Lord Clement Jones, Co-Chairman, global government Relations, DLA, continues
to advise officials and industry leaders on EU policy proposals.

At this time, WTTC’s efforts in the EU are focused on one of the most pressing issues facing Travel &

Tourism growth in the EU – infrastructure. Rather than curbing growth, the continued lack of investment in
base infrastructure, transport and in particular airports, are exacerbating serious capacity constraints, impeding
security efforts, and leading to a lower quality experience not only for travellers, but also for our employees
and recipient communities. WTTC has established a special committee of advisors to work together with EU
policy-makers to address this barrier to the long-term strength of Travel & Tourism.

JUST

THREE

yEARS

AFTER

RELEASINg

COMPREHENSIvE REPORT ON TRAvEL & TOURISM
IN CHINA AND HONg kONg SAR, WTTC FOUND
IT NECESSARy TO FOLLOW UP ON THAT WORk
AND PRODUCE AN UPDATE FOR ONE SIMPLE AND
COMPELLINg REASON – WITHIN THE NExT TEN
yEARS, CHINA WILL BECOME THE SECOND LARgEST
TRAvEL & TOURISM ECONOMy IN THE WORLD.

CHINA

Building on the high level of interest among China’s decision-makers in WTTC’s
economic findings, forecasts and recommendations for a policy framework to provide a
favourable environment for the sustainable growth of Travel & Tourism across China, our
Council is continuing to work with the China’s central and regional governments, as well
as with our Members in the country.

The Beijing Olympics, 2008

In the run-up to the Beijing Olympics in 2008, WTTC is meeting regularly with the Beijing Tourism
Administration (BTA) and the China National Tourism Administration (CNTA). This year, leaders of both
the BTA and CNTA will participate in the global Travel & Tourism Summit, taking place in Lisbon, Portugal,
to discuss developments in relation to the Olympics, together with Members of WTTC.

Regional Tourism Forum,
guiyang, guizhou Province

WTTC continues to support China’s
Central government plans to generate
economic growth and employment in
the western provinces of the country.
Following an official visit to guiyang
in April 2007, WTTC and the China
Chamber of Tourism Commerce started to
work on an international Travel & Tourism
forum, which will take place in guiyang in
autumn 2007. Bringing international Travel
& Tourism leaders together with regional
decision-makers, this forum will facilitate
an exchange of global and local knowledge,
as well as exploring opportunities for Travel
& Tourism growth in the region.

WTTC’s Mandarin Website

In line with the launch of the new WTTC website in 2007 (www.wttc.travel), the Chinese language website
has been enhanced with a more detailed and a wider range of information, as well as additional services such
as a TSA statistical data comparison section. The website has proved to be a valuable source of information for
journalists, analysts and investors in China.

Jean-Claude Baumgarten, President, WTTC and Mr Shao Qiwei,

Chairman, China National Tourism Administration (CNTA) in Beijing

in April 2007

IN ABSOLUTE TERMS, THE UNITED STATES CONTINUES
TO HOLD ITS POSITION AS THE SINgLE LARgEST
TRAvEL & TOURISM ECONOMy IN THE WORLD, UP TO
2017. HOWEvER, RELATIvE PERFORMANCE MEASURES
INDICATE THAT THE USA WILL CONTINUE TO LAg
BEHIND THE WORLD TRAvEL & TOURISM ECONOMy
– By MORE THAN ONE PERCENTAgE POINT OvER THE
PERIOD 2007 – 2017.

UNITED STATES

According to the Travel Industry Association of America (TIA), the US share of international
tourism is at an all-time low, having suffered a double-digit decline since 2000 and a 35
per cent drop since 1992. TIA estimates that, for every one per cent of world market
share regained, the USA would stand to generate an estimated 8.1 million extra foreign
visitors, representing an additional US$13.4 billion contribution to gDP and 153,000
more jobs. Beyond the significant social and economic impact of Travel & Tourism, the
USA stands to gain from the unique contribution of our industry to building international
understanding.

Together with our US partner, the Travel Business Roundtable (TBR) and TIA, WTTC is continuing to raise
awareness of the importance of Travel & Tourism in the US Capitol, and at state and local levels.

Following our collaborative effort to produce the 2006 global Travel & Tourism Summit in Washington DC

– which was attended by Condoleeza Rice, US Secretary of State; Carlos gutierrez, US Secretary of Commerce;
Michael Chertoff, US Secretary of Homeland Security; and Norman Minetta, US Secretary of Transportation
– WTTC, TBR and TIA will convene a meeting of Travel & Tourism leaders in New york in autumn 2007 for
discussions that will help to move forward our work with the US government.

THE IMMENSE gROWTH OF TRAvEL & TOURISM IN
COUNTRIES SUCH AS THE UNITED ARAB EMIRATES
HAS POSITIONED THE MIDDLE EAST FIRMLy ON THE
gLOBAL TRAvEL & TOURISM MAP.

MIDDLE EAST

Continuous investment in Travel & Tourism infrastructure, linked to a sound policy on,
and commitment to, the industry, have helped to ensure the long-term success of Travel
& Tourism. growing recognition of the role of our industry as a catalyst for economic
diversification has resulted in more and more private sector leaders joining WTTC.

Together, these leaders have established a WTTC Middle East Chapter which meets regularly to discuss Travel &
Tourism development across the region and to assess global communication efforts. Following a meeting held in
February 2007, the Chapter will reconvene in May 2007.

The following WTTC Members are committed to the Middle East Chapter:

• Maurice Flanagan CBE, Executive vice Chairman,

Emirates Airline & group and Chairman of the WTTC Middle East Chapter

• Essam Abouda, vice President, Arabian Peninsula, Hilton Hotels
• David Church, Partner, DLA Piper Middle East Office, DLA Piper
• David Clifton, Managing Director EMEA, Interval International
• Ghaith Al Ghaith, Commercial Operations Director, The Emirates group
• Mohammed Al Habbai, CEO, Dubailand
• James Hogan, CEO, Etihad Airways
• Ali Kolaghassi, vice Chairman & CEO, Saraya Holdings
• Gerald Lawless, Executive Chairman, Jumeirah group
• Dr Khater Masaad, Chairman, khatt Hotel, Al Hamra Hotels Management EST
• Yassin Talhouni, CEO, zara Investment Holding
• Sarmad Zok, CEO, kingdom Hotel Investments

THE gLOBAL TRAvEL & TOURISM SUMMIT IS THE
WORLD’S ONLy gATHERINg FOR PUBLIC AND PRIvATE
SECTOR LEADERS OF TRAvEL & TOURISM AT THE
HIgHEST LEvEL, REPRESENTINg ALL SECTORS OF OUR
INDUSTRy AND ALL REgIONS OF THE WORLD.

gLOBAL TRAvEL &

TOURISM SUMMIT

WASHINgTON DC, 2006

By 2003, the world had been hit by a series of disasters and other negative events of unprecedented proportions
– from 9/11 to the war in Iraq, constant threats of terrorism and the SARS crisis. Not surprisingly, these had
a significant impact on demand for Travel & Tourism and WTTC, together with other industry organizations
and associations, was challenged with the need to instil confidence among the travelling public.

The global Travel & Tourism Summit in 2003 was the first of WTTC’s annual gatherings to be opened

up to the global media and its theme – Building New Tourism – was conceived as a result of the industry
environment during that period. For the first time ever, the Summit brought together industry CEOs from
around the world to demonstrate unity and strength in the face of adversity.
The outcomes of this Summit were deemed so rich that they shaped the
future of the Council’s vision and WTTC launched the Blueprint for New
Tourism, our mission publication, later that year.

The following Summits, which took place in Qatar in 2004, India

in 2005, and the USA in 2006, set new milestones, repositioning the
way in which WTTC raises awareness of the social and economic
importance of Travel & Tourism.

With more than 700 industry leaders, senior government officials

and influential journalists present in Washington DC, including
Condoleezza Rice, US Secretary of State, Michael Chertoff, US
Secretary of Homeland Security, Carlos gutierrez, US Secretary of
Commerce, and Norman Mineta, US Secretary of Transportation,
leaders engaged in meaningful discussions on Travel & Tourism
issues affecting the USA and the world generally.

Leaders’ calls for action echoed throughout the Summit, and

were reiterated in news articles and special reports that followed
the event. WTTC recently issued a special report entitled
Open Mind, Open World, which captured and promoted
the conclusions that were drawn from our discussions in
Washington DC.

LISBON, PORTUgAL, 2007

This year, the global Travel & Tourism Summit will convene in Lisbon, Portugal, under the patronage of the
President of the Portuguese Republic and the Prime Minster of Portugal. Organized in cooperation with the
Portuguese Ministry of Economy & Innovation, the Tourism Board and Chairmen of Espírito Santo Turismo,
Pestana Turismo, TAP Portugal and the André Jordan group, the Summit provides an outstanding example of
public-private sector partnership.

To be set in ‘the round’, the 2007 Summit will again bring global leaders together in an auditorium built

on the principles of a Roman theatre to encourage open dialogue.

Breaking Barriers-Managing growth

Although the last 12 months have been very positive for Travel & Tourism, the industry faces new and
immediate challenges. Under the theme Breaking Barriers, Managing growth, the 2007 Summit will draw
attention to key issues challenging the sustainable future of Travel & Tourism. These include:

• Are the conditions in place for this growth to generate wide prosperity; or will opportunities be

squandered and tensions mount because barriers are allowed to persist?

• Is growth to be pursued purely for profit, or is the Travel & Tourism sector capable of acting

as responsible world citizens, balancing business needs with cultural, social and environmental
factors?

Interactive Web Channel

WTTC’s new Interactive Web Channel provides an opportunity for everyone to take part in the debate, in the
run-up to the 2007 Summit. It is designed to add value and substance to the discussion of the key issues which
will be the focus of the Summit in Lisbon, Portugal. Everyone can submit comments on the subject of their
choice, and these comments are regularly published on the Interactive Web Channel. The debates in Lisbon
will take account of the discussions on the Interactive Web Channel, and will be all the richer as a result.

www.globaltraveltourism.com/webchannel

LAUNCH OF gLOBAL 2007 TSA RESEARCH – BERLIN, gERMANy

OTHER MAJOR

EvENTS

The 2007 global TSA research was launched at a press conference
at ITB, Berlin in conjunction with Accenture as the sponsoring
partner and Oxford Economics, WTTC’s research partner.

The press conference was attended by about 100 guests, including Tourism Ministers from Botswana and
Montenegro and top industry players and journalists from across the world. geoffrey kent, Chairman of
WTTC and Chairman and CEO of the Abercrombie & kent group of Companies, Jean-Claude Baumgarten,
President of WTTC, Lord Tim Clement-Jones, Co-Chairman, global government Relations from DLA Piper,
and Adrian Cooper, Managing Director, Oxford Economics, as well as guido Haarmann, Senior Executive,
Accenture Transportation & Travel Service Practice, made up a skilled panel, analyzing the trends and figures
and leading into the debate. The press conference was followed by a buffet lunch reception.

WTTC’s presence in Berlin was also marked by Jean-Claude Baumgarten’s receipt of the International

Society of Hotel Consultants’ (ISHC’s) Pioneer Award during the closing ceremony of IHIF on 7 March,
2007.

WTTC INDUSTRy EvENTS, 2007

Throughout the year, WTTC organizes industry events to bring
influential decision-makers and industry leaders together to discuss
key issues affecting Travel & Tourism across the world.

WTTC’s calendar of special industry events will start in September 2007 with a gathering in London focused
on the urgent need to address inadequate levels of infrastructure, which continue to hamper the sustainable
development of Travel & Tourism in the European Union. Other events include a special high-level meeting
in New Delhi, India, towards the end of 2007, which will assist policy-leaders in driving Travel & Tourism
employment opportunities across the Indian Subcontinent.

MAy 2006

kuoni Centennial Dinner, geneva, SWITzERLAND
World Economic Forum Middle East, Sharm-el-
Sheikh, EgyPT
WTTC Middle East Chapter Meeting, Dubai, UAE

JUNE 2006

IATA Annual general Meeting, Paris, FRANCE

WTTC/Accenture Uk Event, London, Uk

JULy 2006

AAA Advisory Meeting, Chicago, USA

National Business Travel Association Annual
International Convention, Chicago, USA

SEPTEMBER 2006

Fonatur Event, Mexico City, MExICO

Launch of Namibia Report, Windhoek, NAMIBIA

PhoCusWright Executive Conference, Brussels,
BELgIUM

Tourism Africa 2006, geneva, SWITzERLAND

OCTOBER 2006

APEC ministerial meeting, Hoi An, vIETNAM

Chicagoland Summit, Chicago, USA

Hotel Investment Conference Asia Pacific (HICAP),
Hong kong, CHINA

WTTC/TBR Annual Industry Lunch, New york,
USA

WTTC Executive Committee Meetings & WTTC/
Accenture press event, New york, USA

WTTC Roundtable, Moscow, RUSSIA

NOvEMBER 2006

BBC World Nation Branding Conference, London,
Uk

China…The Future of Travel, London, Uk

Destination 2006 – Sustainable Tourism, Porto Alegre,
BRAzIL

European Tourism Forum, Limassol, CyPRUS

Meditour Summit, Antalya, TURkEy

Mkg Forum International de l’Hôtellerie and
Hospitality Awards, Paris, FRANCE

PhoCusWright Executive Conference, Hollywood,
USA

World Travel Market, London, Uk

WTTC Annual Cocktail Reception, London, Uk

WTTC India Initiative Annual general Meeting,
Delhi, INDIA

DECEMBER 2006

Launch of Brunei Report, Bandar Seri Begawan,
BRUNEI DARUSSALAM

JANUARy 2007

Americas Lodging Investment Summit (ALIS), Los
Angeles, USA

BTL Lisbon Tourism Fair, Lisbon, PORTUgAL

FITUR, Madrid, SPAIN

Pre-launch of World Economic Forum
Competitiveness Monitor, Davos, SWITzERLAND

World Economic Forum, Davos, SWITzERLAND

WTTC Launch of Summit Programme, Lisbon,
PORTUgAL

FEBRUARy 2007

Foreign Investment in Real Estate and Tourism
Industries in Brazil, Rio de Janeiro, BRAzIL

Launch of greece Report, Athens, gREECE

South Africa Tourism Board Meeting, Johannesburg,
SOUTH AFRICA

WTTC Middle East Chapter Meeting, Dubai, UAE

MARCH 2007

International Hotel Investment Conference (IHIF),
Berlin, gERMANy

Internationale Tourismus Börse (ITB), Berlin,
gERMANy

virtuoso Symposium, St Petersburg, RUSSIA

WTTC/Accenture Launch of global TSA 2007,
Berlin, gERMANy

APRIL 2007

Arabian Hotel Investment Conference (AHIC),
Dubai, UAE

MAy 2007

7th global Travel & Tourism Summit, Lisbon,
PORTUgAL

Arabian Travel Market, Dubai, UAE

Tourism for Tomorrow Awards Winners’ Ceremony,
Lisbon, PORTUgAL

WTTC Annual general Meetings, Lisbon,
PORTUgAL

WTTC Executive, Audit & Membership Committee
Meeting, Lisbon, PORTUgAL

Launch of Lisbon Region Report, Lisbon,
PORTUgAL

Launch of Montenegro Report, Podgorica,
MONTENEgRO

WTTC has participated in the following in events in 2006/07:

gLOBAL CONSCIOUSNESS OF THE IMPORTANCE OF
TRAvEL & TOURISM HAS TRIggERED A FRESH LOOk
AT THE OPPORTUNITIES IT PRESENTS. NEW TOURISM
IS A NEW TyPE OF COHERENT PARTNERSHIP BETWEEN
THE PRIvATE SECTOR AND PUBLIC AUTHORITIES. IT IS
gEARED TO DELIvERINg COMMERCIALLy SUCCESSFUL
PRODUCTS – BUT IN A WAy THAT ENSURES BENEFITS
FOR EvERyONE.

TOURISM FOR

TOMORROW

WTTC’s guiding Blueprint for New Tourism encourages leaders to look beyond short-term
considerations and to focus on Travel & Tourism benefits – not only for people who
travel, but also for people living in the communities they visit, and for their respective
natural, social and cultural environments.

The Tourism for Tomorrow Awards recognize the world’s leading examples of organizations and destinations that
adopt these principles and translate them into real practice.

2007 marks the third year of WTTC’s stewardship of the Tourism for Tomorrow Awards. Over the past

two years, WTTC has invested in profiling the awards and promoting winners and finalists to a global audience.
Furthermore, all categories, as well as rules and guidelines, have been revised, and the first steps to introducing a
feedback scheme have been pursued to strengthen the awards’ credibility and validity.

We have seen a remarkable increase in applications for the awards, up by 37 per cent year on year from 2006

to 2007. Entries this year ranged from small- and medium-sized businesses to large global players from more than
40 countries worldwide.

OvER RECENT MONTHS THERE HAS BEEN INCREASED
EvIDENCE OF THE WORLD’S DETERMINATION TO
ADDRESS ENvIRONMENTAL CHALLENgES. ABOvE ALL,
A TIPPINg POINT HAS BEEN REACHED ON CLIMATE
CHANgE AND, IN PARTICULAR, ITS IMPACT ON THE
ENvIRONMENT.

CLIMATE CHANgE

In 2007, WTTC launched an international campaign to call to dialogue the issues on
climate change and the environment. The campaign ran full pages in authoritative
publications such as The Daily Telegraph, Newsweek, The Wall Street Journal and travel trade
media around the world.

WTTC’s Interactive Web Channel, created to
encourage open dialogue on key issues facing Travel
& Tourism in the run-up to the 2007 Summit,
facilitated an exchange of views concerning
climate change.

The online dialogue has attracted a variety of

opinions concerning Travel & Tourism’s impact
on the environment, identifying steps that can
be taken to enhance efforts, and reflecting on
environmental good practice, working hand in
hand with sustainable communities, nations and
business.

going forward, WTTC will step up efforts

to bring together world leaders to discuss and
agree solutions for climate change, which
will be communicated through a global PR
and media campaign. The Interactive Web
Channel will continue to play a role in
attracting the wider global community to
our work in this area.

European Union

Tourism for Tomorrow

China

Country Reports

13%

20%

WTTC General

24%

Travel & Tourism Summit

28%

Tourism Satellite Accounting

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

100

200

300

400

500

600

700

2004

2005

2006

.

o

f

A

r
t
i
c
l
e
s

COMMUNICATIONS

Media activity and press coverage are powerful tools, which WTTC employs in order to
achieve its mission to raise awareness of the economic and social importance of Travel
& Tourism across the world. In 2006 WTTC undertook a series of communication
activities, which led to a positive increase in the volume of global media coverage.

year on year the coverage of WTTC activities continues to spread around the world. The graph below clearly
indicates the healthy increase in the number of articles in which WTTC is quoted. There is a notable peak around
the time of the global Travel & Tourism Summit in the second quarter of the year and a sharp increase in the third
quarter of 2005 occurred following the research released by the Council measuring the impact of the terror attacks
in London on 7 July.

Over the past year WTTC has continued to work with national and regional governments and industry

leaders to produce focused TSA research and set forth specific policy recommendations to address strategic
Travel & Tourism development issues. These reports are officially launched with a presentation of the findings to
representatives of both the public and private sectors, as well as the media, attracting wide coverage both locally and
internationally. In 2006 reports were produced for the Russian Federation, Romania, Namibia, China and Brunei.
This year, reports for greece, Montenegro and Lisbon are being developed.

WTTC’s economic research continues to provide governments and the media with vital statistical information

on the challenges and opportunities facing our industry today. Furthermore, the global Travel & Tourism Summit
helps attract press and media on a wide scale from business, mainstream and trade press.

As an example, the success of the China report, launched in April 2006, and WTTC’s increased profile in

China, together with the Summit in New Delhi in 2005, have greatly stimulated media interest in Asia Pacific.

2006 Coverage by Topic

2004-2006 Media Coverage