First World Tourism Investment Summit to take place October in Busan, South Korea

The First World Tourism Investment Summit is to be hosted by South Korea’s cosmopolitan city of Busan, October 6 - 9, 2008. The Summit is being organized by the Canadian-based World Trade University Global Secretariat (WTU), together with the Tourism Promotion Organization for the Asia-Pacific Cities, and with the support of PATA (Pacific Asia Travel Association). The distinguished President of the United Republic of Tanzania, H.E. Jakaya Mrisho Kikwete, is Honorary Global Chair Emeritus.

Summit Global Partners include the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group, Ministry of Tourism and Transport of the Government of Bermuda, Special Unit for South-South Cooperation of UNDP, Pegasus Solutions and Cendyn.

Sujit Chowdhury, Secretary General of the Summit, said, “WTU, after staging two successful World Tourism Marketing Summits in China (Nanjing 2004 and Beijing 2007), will once again bring together more than 500 global representatives from over 50 countries, for this first-ever World Tourism Investment Summit.”

The majority of attendees will be top-level decision makers actively engaged in tourism investment, development and operations. Global delegates will include senior executives from the private sector, tourism ministers, financiers, government leaders on all levels, and senior officials of international organizations.

“All delegates will have a common objective: to explore new investment opportunities, broaden networks and foster collaboration on new and innovative projects in the tourism industry,” Chowdhury added.

David Chestler, Pegasus’ Senior Vice President of Corporate Business Development, a Summit Partner and Platinum Sponsor, said, “It’s taken other markets years to break through to the investment, management and technology solutions we have today, but this Summit will allow us to accelerate the development of pioneering new markets and opportunities worldwide.”

With unprecedented investment initiatives and collaboration by government leaders, investors and related stakeholders currently available, the summit will focus on many issues, including: how does one decide where, when and with whom to invest in this age of new wealth; how can the public and private sectors work together to provide incentive investment opportunities; how can investments be best ‘assured’ to minimize risks; how should a national government and the corporate sector work together to protect the local environment; and how to prepare a region and a community for the tourism impact.

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