The World Travel & Tourism Council (WTTC) has announced Madrid as its new headquarters following the organisation’s decision to leave its London base after 35 years.
The WTTC announced this week that its executive committee had unanimously approved the Spanish capital as the location of its new global headquarters, news hub Travel Mole reported.
The move is designed to deliver greater value to members and unlock fresh growth potential for the travel and tourism sector.
Madrid was selected following a competitive evaluation process in which five destinations formally expressed interest in hosting the new office: Dubai, France, Italy, Spain, and Switzerland.
Each bid was assessed against six core criteria, including office rental and operating costs; the fiscal, incentive, and competitive environment; fast-track visa and work permit arrangements; government support; cost of living to attract and retain talent; and proximity to international organizations.
All 17 members of the WTTC executive committee endorsed Madrid after an in-depth review of the organization’s long-term strategic and operational needs.
Committee members concluded that the Spanish capital offered the most compelling overall proposition, combining strong competitiveness, a more favourable tax environment, robust public-sector backing, simplified visa procedures for staff, and lower overall operating costs.
Ongoing challenges linked to Brexit - particularly restrictions on talent mobility - were also cited as factors that reduced the UK’s attractiveness.
Establishing its global office in Madrid will give WTTC immediate access to a far larger and more diverse talent pool.
The Spanish capital is already home to the UNWTO, which could provide more synergies between the two organisations.
“Madrid gives us the platform to operate more efficiently, deliver greater value to our members, access world-class talent, and maintain a truly global outlook, with the strong support of the Spanish government,” said WTTC chairman Manfredi Lefebvre d'Ovidio of Italy.
# The WTTC is a forum for the travel and tourism industry. It comprises members from the global business community and works with governments to raise awareness about the travel and tourism industry.
Ongoing challenges linked to Brexit - particularly restrictions on talent mobility - were also cited as factors that reduced the UK’s attractiveness.
Establishing its global office in Madrid will give WTTC immediate access to a far larger and more diverse talent pool.
The Spanish capital is already home to the UNWTO, which could provide more synergies between the two organisations.
“Madrid gives us the platform to operate more efficiently, deliver greater value to our members, access world-class talent, and maintain a truly global outlook, with the strong support of the Spanish government,” said WTTC chairman Manfredi Lefebvre d'Ovidio of Italy.
# The WTTC is a forum for the travel and tourism industry. It comprises members from the global business community and works with governments to raise awareness about the travel and tourism industry.
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