established as an international forum, comprises 19 countries alongside the European Union, collectively representing the world's major developed economies. This diverse assembly of nations holds significant global influence, with G20 members jointly accounting for an impressive 85% of global Gross Domestic Product (GDP), 75% of international trade, and encompassing approximately two-thirds of the world's population. The forum serves as a platform for addressing pressing global economic challenges, facilitating dialogue, and fostering cooperation among its member states to promote sustainable and inclusive economic growth on a global scale. With its substantial economic clout and extensive reach, the Group of Twenty (G20) plays a pivotal role in shaping international economic policies, strategies, and initiatives aimed at addressing complex issues confronting the global community.
Published in Chapter:
WTO and the Future of Global Business Tourism: Trends and Challenges
Copyright: © 2024
|Pages: 17
DOI: 10.4018/979-8-3693-2619-0.ch015
Abstract
The following chapter focuses on the evolving landscape of global business tourism in light of emerging trends and challenges. With a particular emphasis on the role of the WTO, this study delves into the factors influencing the resilience and sustainability of the business tourism sector. Through an interdisciplinary approach involving economics, policy analysis, and tourism management, the research analyzes recent developments in business tourism. Special attention is given to the implications of the COVID-19 pandemic on business tourism, including relief efforts and policy interventions undertaken by governments and stakeholders. Critical challenges confronting the business tourism industry, such as supply chain disruptions, inflationary pressures, and environmental sustainability concerns, are identified. By synthesizing insights from economics, policy analysis, and tourism management, the research offers strategic recommendations to bolster the resilience and competitiveness of the business tourism sector amidst evolving global trends.