It is an international financial institution established in 1944 with its headquarters in Washington, D.C., USA. The IMF's primary purpose is to promote international monetary cooperation, exchange rate stability, balanced trade growth, and financial stability. It provides financial assistance and policy advice to its member countries, particularly those facing balance of payments problems or financial crises. The IMF also conducts economic research, monitors global economic trends, and offers policy recommendations to promote sustainable economic growth and development.
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.