Innovation is the Way to Push Tourism Forward – by Natalia Bayona, Director of Innovation, Education, and Investments of the UNWTO
Innovation is the way to push tourism forward Innovation is not just about the future. For me, innovation is about the present. When we consider innovation, it’s not just about a way of using technology but also a way of talking and a way of acting. Today we have the privilege of using technology within
Helping Portugal’s Economy Through Tourism Technology and Innovations – by Miguel Barbosa, Investment Director at Portugal Ventures
Investment director of the Tourism Division of Portugal Ventures, Miguel Barbosa, writes about how innovation in tourism technology has helped the Portuguese economy to begin its post-pandemic recovery. It will come as a surprise to nobody that the Covid-19 pandemic has caused major disruption to many national economies around the world and in Europe –
In April 2021, the European Commission received a complaint about the current VAT refund system for foreign tourists who purchase goods in EU countries. This refund is ostensibly intended to increase tourist spending and boost local economies. The complaint, filed by fintech startup Refundit, denounced two aspects of the current VAT refund system. Firstly, the
Frantisek Imrecze is a corporate consultant who helps businesses reach their development goals. He has a wealth of experience in senior positions, such as executive secretary of the Intra-European Organisation of Tax Administrations (IOTA), president of the Slovak Financial Administration, and country manager of the Slovak subsidiary of SAP AG. In your experience, how can
The Modernisation of Tax-Free Shopping as a Lever for Growth – By Alberto Garcia Valera, Tax Partner at EY
Tax partner at EY, Alberto Garia Valera, writes about how improving tax-free shopping facilitation through digitalisation can help to improve a Spain’s economoc growth through a recovering tourism industry. The Covid-19 pandemic has placed the volatility of the Spanish economy in the spotlight, particularly since it is so closely linked to tourism, an industry that
For many cities and countries in Europe, tourism is a vital part of their economy, contributing a large part of the national and continental GDP while providing high levels of employment. As one of the sectors of great investment throughout Europe, tourism can be a key catalyst for aid during an economic downturn – especially
The global pandemic has had huge effects on the entire European tourism industry, but for countries like Greece, whose economy relies heavily on holidaymakers, the impact has been much more significant. The future of the industry, however, is beginning to look brighter.
The UK formally left the EU at the start of 2021, and that move has had an impact on numerous spheres, including but far from limited to, passports, import policy, and tax-free shopping, both within the UK and for British citizens in the EU.