Hospitality and tourism industry heavyweight, Jerry Inzerillo, used The Summit in Monaco last week, Forbes Travel Guide‘s annual conference, to voice concerns about the shortage of quality personnel facing the sector.
Inzerillo is the Group CEO of Diriyah Group, the business behind the US$64 billion, 14 million square metre project under development in Saudi Arabia. The industry veteran is closing in on 60 years in the hospitality business. He was previously CEO of Forbes Travel Guide for four years between 2014-2018, and was President of Kerzner Entertainment Group from 1991 to 2011.
And while the weight of the Diriyah megatropolis is a heavy burden on the shoulders of Inzerillo, what “keeps me up at night” is the skills shortage facing the industry, he told luxury hotel delegates at The Summit.
“My big worry now is that we are going to be hit by the end of ’26, early ’27, for the first time in the history of travel and tourism, we’ll reach 11% of global GDP.”
Inzerillo – who is the Ambassador for Global Tourism, the Chairman of the World Economic Forum, World Travel & Tourism Council and the Vice Chairman of the World Travel & Tourism Council – told and audience of several hundred he is concerned that the industry “is not ready”.
“We’re going to need millions of employees post COVID, to come back into our industry and to retain our industry. And so for you, our best and brightest, most accomplished inn-keepers in the world,” he said to the Forbes Travel Guide delegates, “you must keep the faith and keep going on, because now, it’s about authenticity. It is about experiences. It is about emotion and moving people.”
“In the history of tourism, we’ve never had more capital in building beautiful hotels and beautiful cruise ships and beautiful airports. But it’s not about the beauty. It’s about how you feel when you go.”
He used an example of a recent stay in a small, luxurious hotel that was US$4,000 a night “but the service was dreadful.”
“Forbes Travel Guide right now is about experiences. It’s about authenticity. It’s about credibility, because the guests are confused. If I’m going to spend the money, that Five Star Rating means legitimacy because it’s verified. And in the long arc of the history of Forbes Travel Guide, it is never more meaningful than it is now.
“It’s going to become imperative over the next 5, 10, 15 years, when India hits its groove, and its middle class has very substantial disposable income, when China hits its groove, and its middle class has major disposable income – when it’s not travel within India or travel in China – you’re going to see not 100,000 more people coming to a city. You’re going to see millions come!”
“There’s going to be unbelievable opportunity for young men and women coming into the industry. And Forbes Travel Guide is there, daily, to make sure that the standards are in place, that the guests get the value for what they are paying for, and that they have rich, meaningful, cultural experiences.”
“Tourism is booming. Now we have to do work to get the standards up,” Inzerillo concluded.
LATTE travelled to Monaco as a guest of Forbes Travel Guide.
