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Vynn Capital Partners with the UNWTO to Boost Asia’s Tourism Sector

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Vynn Capital, a South-East Asia-based early-stage venture capital firm, and the World Tourism Organization (UNWTO) today jointly announced a strategic partnership to promote South-East Asia’s tourism sector by facilitating entrepreneurship and innovation.

Through this strategic partnership, Vynn Capital and UNWTO will collaborate to create a framework and policies to support technology startups that are addressing opportunities and challenges in the region’s tourism sector. Both parties will work together to encourage traditional industry players such as hotel groups, property groups and food companies to adopt digital strategies, as well as to encourage more investment by the private sector into technology companies. Vynn Capital will act as UNWTO’s partner on initiatives to achieve these goals, by supporting tourism entrepreneurs and traditional industry players as the tourism market embraces technology and innovation.

“The tourism sector represents a huge opportunity for South-East Asia, where we see the emergence of a strong middle class. Vynn Capital has identified tourism as a key investment space and we will continue to work with entrepreneurs and industry players to promote the region’s tourism sector. We believe technology companies that focus on the mobility of consumers, such as Indonesia’s Travelio and Carsome, who already has operations in four key countries in South-East Asia, will continue to champion the economic impact of tourism growth. We join hands with UNWTO to foster a new generation of innovative tourism companies in South-East Asia,” said Victor Chua, Founding and Managing Partner of Vynn Capital and Chairman of the Malaysia Venture Capital & Private Equity Association (MVCA).

“UNWTO is proud to partner with Vynn Capital, who will help us to create real solutions for the much-needed digital transformation of tourism. Such partnerships are key to continue generating opportunities all through tourism, and prove that venture capital has a role to play when we want to advance sustainable development,” said UNWTO Secretary-General Zurab Pololikashvili.

According to UNWTO, international arrivals have increased in all regions since the start of 2018, continuing the strong trend of previous years. The strong growth is led by Asia and the Pacific (+8%), especially South-East Asia (+10%) and South Asia (+9%) where growth has already surpassed that of 2017 when Asia saw a 6% increase in international arrivals. This is significant, considering that Asia and the Pacific represents around 29% of international tourism receipts.

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Tourism

Africa’s Tourism Leaders Identify Investments as Key to Sustainable Recovery

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The African Members of the World Tourism Organization (UNWTO) have met in Cabo Verde to strengthen their cooperation and advance plans for recovery and sustainable growth.

The 64th meeting of the UNWTO Regional Commission for Africa (CAF) saw 23 countries represented on the island of Sal, with 21 Ministers of Tourism joining five Ambassadors for the high-level event. Opening the Commission meeting, the President of Cabo Verde Jorge Carlos Fonseca offered a warm welcome to UNWTO’s leadership and to all delegates. The President was joined by Cabo Verde’s Minister of Tourism and Transport, Carlos Jorge Duarte Santos, and Prime Minister Dr. Ulisses Correia e Silva in reaffirming support of the highest political level for tourism and recognition of the sector as a driver of recovery and sustainable development.

Chaired by Christine Kaseba Sata, Ambassador of Zambia to Spain and Permanent Representative to UNWTO, delegates addressed the biggest challenges standing in the way of the sector’s safe restart across the continent. Special emphasis was placed on the importance of speeding up vaccine rollouts across the continent, as well as addressing security issues that continue to have an impact on how global travellers perceive Africa as a safe tourism destination. Also on the agenda was the current level of connectivity between destinations, with improved air links the harmonization of travel protocols identified as an effective means for boosting regional tourism.

Tourism’s restart ‘essential’

Secretary-General Zurab Pololikashvili welcomed delegates to the Commission meeting, providing an overview of UNWTO’s work during the ongoing crisis and how this is driven by the stated priorities of its African Member States. He said. “The continent is united in its determination to use the power of tourism to drive development and opportunity for all. And with coordination and targeted investments, African tourism can finally fulfil its unique potential.”

Rebuilding trust in travel

In Cabo Verde, UNWTO Members were brought up-to-date on the development of the International Code for the Protection of Tourists, a landmark code aimed at helping restore confidence in travel. Members were also presented with an overview of the UNWTO General Programme of Work & Budget for the Period 2022-2023. Additionally, signalling a shared determination to keep moving forward even in challenging times, Members also held elections for key positions within UNWTO decision-making bodies ahead of the 24th General Assembly.

Building capacity

Running in parallel with the Commission meeting, UNWTO hosted capacity building workshops on innovation, digital marketing and investment These workshops were held ahead of the second edition of the UNWTO Global Tourism Investment Forum, opened by Prime Minister Dr. Ulisses Correia e Silva and featuring the participation of investors from Spain, Germany, Switzerland and the USA as well as public and private sector leaders from across Africa. Backing up the workshop on marketing, UNWTO also launched its new Brand Africa publication. Produced with key African Tourism Partners, the publication aims at helping destinations use effective branding to diversify and attract visitors.

Also in Cabo Verde, tourism leader celebrated the signing and approval of the UNWTO Declaration on the Future of Mobility and Sustainable Transportation, a commitment aimed at the better understanding of how investments can help make the sector greener while also encouraging greater cooperation between tourism authorities and transport providers. Concluding the Regional Commission meeting, UNWTO signed a Memorandum of Understanding (MoU) with the Government of Cabo Verde. The aim of the MoU is to enhance cooperation between UNWTO and the Ministry of Tourism to strengthen the country’s branding, boost tourism education initiatives, and support research into the socio-economic impact of the sustainable development of tourism across Cabo Verde.

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Green Hotel Investments to #RestartTourism

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Destination Capital (DC) has signed a collaborative arrangement with the World Tourism Organization (UNWTO) of the United Nations to support the rejuvenation of the hotel industry. The arrangement supports the relationship DC has with the International Finance Corporation (IFC) to promote investment in green and sustainable tourism accommodation and to stimulate re-employment, particularly in the wake of the COVID-19 pandemic.

The collaboration between UNWTO and Destination Capital is based on DC’s adoption of best practices aimed at reducing carbon emissions and operating hotels in a manner consistent with IFC’s environmental and social criteria. Against this backdrop, DC acquires and repositions freehold hotels of 150-250 rooms in Thailand and across South-East Asia with the aim of implementing sustainable water and energy systems. It also works to promote gender equality at every level of the hospitality sector, another of UNWTO’s core priorities and in line with Sustainable Development Goal number 5.

While governments and destinations around the world are working on vaccination programs to accelerate the restart of the tourism, UNWTO is working with the private sector to encourage employers to play their part in the recovery of local communities through job creation and training programs. UNWTO data shows that international tourism arrivals fell by 1 billion in 2020, with the crisis carrying over into 2021. Worldwide, this has placed as many as 120 million tourism jobs directly at risk. Moreover, Asia and the Pacific has been the worst-affected of all global regions, and young workers and women are among the hardest hit by the downturn in tourism employment.

In line with the 2030 Agenda for Sustainable Development, DC recognizes the hotel industry not only has a responsibility to re-hire and re-train hotel staff. It is also increasingly under pressure to reduce its carbon footprint and mitigate the impact of energy and water consumption as well as food waste and environmental degradation. DC is committed to retrofitting its hotels to be compliant as ‘green hotel’s as per the Excellence in Design for Greater Efficiencies (EDGE) standards established by IFC.

About Destination Capital

Destination Capital is a private equity real estate investment company based in Bangkok Thailand which focuses on acquiring, renovating and repositioning hotel assets such that they are EDGE compliant and follow a rigorous sustainability protocol in order to unlock value for our capital partners. Rigorous asset manage programs are in place to yield higher values upon exit while pursuing a “Triple Bottom Line” strategy: Planet, People, Profit.

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Promoting ‘Brand Africa’ to Realize the Continent’s Tourism Potential

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UNWTO’s African Member States will work together to establish a new narrative for tourism across the continent. To better realize tourism’s potential to drive recovery, UNWTO and its Members will also work with the African Union and the private sector to promote the continent to new global audiences through positive, people-centred storytelling and effective branding.

With tourism recognized as an essential pillar of sustainable and inclusive development for the continent, UNWTO welcomed high-level delegates to the first Regional Conference on Strengthening Brand Africa. The conference featured the participation of the political leadership of host country Namibia, alongside public and private sector leaders from across the continent.

UNWTO Secretary-General Zurab Pololikashvili welcomed the common determination to rethink as well as restart tourism. “African destinations must take the lead in celebrating and promoting the continent’s vibrant culture, youthful energy and entrepreneur spirit, and its rich gastronomy”, he said.  

Windhoek Pledge puts people first

On the back of a series of workshops and a Ministerial Think Tank, UNWTO’s African Member States unanimously endorsed the Windhoek Pledge on Advocating Brand Africa. Under the terms of the Windhoek Pledge, Members will engage both public and private sector stakeholders as well as local communities to build a new, inspiring narrative for tourism across the continent. They will identify positive, human-centred stories, and through strengthened partnerships with the media, showcase them to the world, reaching new and diverse tourism source markets.

Over the coming weeks, UNWTO will work with all signatories to create a common roadmap towards establishing Brand Africa. This will include establishing common values and goals and identifying funding needs and opportunities as well as providing branding toolkits for destinations, including guidelines and recommendations and training and capacity building in market intelligence, digital marketing and data management.

Bilateral meetings show support for tourism

Alongside the conference, UNWTO Secretary-General Zurab Pololikashvili, held high-level talks on the restart of tourism with President of Namibia Hage Geingob, as well as with the country’s Deputy Prime Minister Netumbo Nandi-Ndaitwah and with the African Union Commissioner for Trade and Industry Albert Muchanga

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