Tourism leaders say EU’s wrong-headed tourism taxes will only hurt revenues
Despite the lure of quick cash benefits, WWTC urges the 27 EU finance ministers to reconsider impulsive tourism taxes that have proved in the long run to decrease revenue as travelers try to avoid fees — or just travel less.
Excerpt from Travel Daily News
The World Travel & Tourism Council (WTTC) has written to all 27 Finance Ministers in the European Union urging them to recognise the important role of the industry in stimulating economic growth and jobs, while avoiding unproductive knee-jerk tax hikes at a time of austerity.
The letter, written by Dr Michael Frenzel, Chairman of the Executive Board, TUI AG and Chairman, WTTC and David Scowsill, President & CEO, WTTC, reminds Finance Ministers that Travel & Tourism is a key generator of employment across the European Union directly generating 10 million jobs across Europe, substantially more than the automotive manufacturing (3.2 million), mining (3.6 million) and financial services sectors (8.5 million).