It is an international organization that deals with the global rules of trade between nations. The WTO was established in 1995 and is headquartered in Geneva, Switzerland. Its primary purpose is to facilitate trade negotiations, resolve trade disputes, and enforce agreements among its member countries. The WTO provides a forum for member nations to negotiate trade deals, discuss trade policies, and work towards the reduction of trade barriers such as tariffs and quotas.
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.