Tuesday, 15 October 2024
Virtuoso’s Upchurch spearheads WTTC’s new SME initiative
by Rose White
The World Travel & Tourism Council (WTTC) aspires to create the world’s largest database of Small and Medium-sized Enterprises (SMEs), says Virtuoso boss, Matthew Upchurch.
Unveiled last week at the WTTC’s Global Summit in Perth, the newly launched ‘Together in Travel’ initiative aims to provide support, tools and resources to SMEs “to accelerate their business growth and ensure their voices are heard on a global scale,” the organisation said.
Julia Simpson, WTTC President & CEO referred to SMEs as the “lifeblood and green shoots for the whole sector”.
“SMEs are a cornerstone of Travel & Tourism with millions of small enterprises providing services to customers, creating innovative start-ups and providing local knowledge to larger partners. For the first time, these SMEs can join a community to share ideas and tools to strengthen their businesses.”
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“The global tourism body is projecting a record-breaking year for Travel & Tourism in 2024, with the sector’s global economic contribution set to reach an all-time high of US$11.1 trillion. Through a dynamic and free-to-subscribe platform, subscribers will have access to a wealth of content, networking opportunities, and educational programs.”
Matthew Upchurch, Virtuoso Chairman and CEO – and a Vice Chair of the WTTC – officially unveiled the initiative on Thursday morning at the Global Summit at Crown Towers Perth.
“This has been a long time coming,” he said of the program.
The concept was pitched two years ago at the WTTC’s Global Summit in Riyadh, Saudi Arabia and approved in Kigali, Rwanda last year, however Upchurch’s involvement extends well beyond those years.
The WTTC says the SME sector plays a “crucial role in fostering entrepreneurship and bringing new ideas to Travel & Tourism. Some of today’s great companies began as ideas ‘at the kitchen table’. Some data suggests up to 80% of the sector comprises SMEs. This figure highlights the prevalence of SMEs in the sector and the growing need for a structured support system that can optimise productivity and impact.”
Upchurch highlighted that SMEs “are making up the primary part of this industry,” and that until now, they “really have not been served in the way that we think they ought to be served.”
“For over a decade now, I’ve always felt that our mission of representing the private sector would never be fully fulfilled if we did not do something to engage and to help the small and medium-sized enterprises that make up the vast majority of our industry.”
Upchurch explained the three goals of Together in Travel are; 1) Pride (“in who we are, pride in what this industry represents”), Inspiration (how to create inspiration among all the businesses) and Practical Tools (the ability to provide the data, toolkits, elements that will assist SMEs “be even more successful”).
“Imagine walking into a parliament, into a city hall somewhere… it’s wonderful to have the top CEOs of the top companies of the world there, but it’s even more impactful if you say within the boundaries of your city, or your state, of your country, we’re servicing ‘X’ thousand SMEs.”
“That elevates who we are, and quite frankly, makes us more approachable and more impactful, both to governments, to the press and to the people.”
Upchurch continued, explaining: “the vision is to create the world’s largest database of SMEs which will then help us serve them, and down the road, we’ll probably have some premium products, but they’ll be very low-cost subscriptions.”
“I’m super excited about what I think this can do for the industry and for us.”
“We want the SMEs to be connected to the greater narrative about what this industry has to do,” he said.
“If every person in this industry was to say, I’m not just in hospitality, or in cruise, or a DMC, but say I’m a proud member of being part of the world’s largest industry, with 10% of the global GDP, 384 million people employed, etc, that will go a long way, and having the SMEs do that too.”
Founding members of Together in Travel include Abercrombie & Kent, Accor, Diriyah, FINN Partners, Intrepid, Microsoft, MSC Cruises, Oman, Trip.com Group, VFS Global and Virtuoso.
The WTTC’s leader, Simpson, cited Upchurch as the driving force behind the Together in Travel project.
“Virtuoso has not just invested money, but heart,” Simpson said. “I’m really grateful and very excited.”
Also at the Global Summit was Ryan Mossny, Co-Founder of Matagarup Zip+Climb, the Perth attractions operating on the landmark bridge on the Burswood Peninsula, acknowledged that the WTTC’s new initiative arrived “at a perfect time.”
“Through tailored support, we will be able to directly tackle our problem areas head-on, allowing us not only to survive but to thrive in an increasingly competitive market.”
Meanwhile, Upchurch told the Global Summit delegates he was “blown away” by Western Australia following his pre-WTTC famil, organised by Southern Crossings and Tourism WA, shared by LATTE last week.
“This [visit] has been a long time coming. I’m already an Official Friend of Australia but the last time I was in Perth was for the America’s Cup,” he quipped. That was in 1987.
Taken aback by the state’s diversity of destinations and experiences, Upchurch said his next trips to Australia’s eastern seaboard will be extended to Western Australia.
“I’m going to do an Around the World trip, either continuing onto Perth and then to Europe and back home, or the reverse, because this has been such an amazing experience,” he said excitedly.
Upchurch explaining the significance of the SME segment in early 2023
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