Published on : Wednesday, August 8, 2018
Vynn Capital and UNWTO will work together to build a framework and policies that would aid technology startups to focus on opportunities and challenges in the tourism of the region.
Both parties will collaborate to hearten up traditional industry players like hotel groups, property groups and food companies to take up digital strategy along with encourage more investments by the private sector into technology companies. Vynn Capital will aid the purpose of UNWTO as a partner on initiatives to achieve these goals.
“The tourism sector represents a huge opportunity, especially for Southeast Asia, where we see the emergence of a strong middle class. Vynn Capital has identified tourism as one of the key investment space for us, and we will continue to work with entrepreneurs and industry players to promote the region’s tourism sector,” said Victor Chua, Founding and Managing Partner of Vynn Capital and Chairman of the Malaysia Venture Capital & Private Equity Association (MVCA).
Chua brought up the examples of Indonesia’s Travelio and Carsome as distinguished startups that have found success across Southeast Asia. These types of companies will get complete support from the effort as they represent the economic impact of tourism growth.
UNWTO Secretary-General Zurab Pololikashvili pointed to the needed digital transformation of tourism as the reasons to partner with Vynn Capital.
“These partnerships are key to continue generating opportunities for all through tourism, and proof that venture capital has a role to play when we want to advance sustainable development,” he said.
Tags: UNWTO