By Kalinga Seneviratne
BANGKOK (IDN) - The World Travel and Tourism Council (WTTC) Global Summit, held for the first time in Southeast Asia, pivoted on how Asia-fuelled tourism would impact the industry worldwide. The discussions also centred around whether tourism could be an enabler of Sustainable Development Goals (SDGs) if it were heritage-focused offering community experiences – rather than “exotic” sites – so that significant leakages of tourism revenue could be tapped.
Financial leakages in tourism occur when revenues arising from tourism-related economic activities in destination countries are not available for re-investment or consumption of goods and services in the same countries. Financial resources 'leak away' from the destination country to another country, particularly when a tourism company is based abroad and when tourism-related goods and services are being imported to the destination country.