World Economic Forum
Corruption is recognized as one of the most significant obstacles to economic and social development. It is identified in the World Economic Forum's Global Competitiveness Report as one of the top five barriers to doing business in 58% of the 144 countries analyzed.
The problem of corruption in the aviation and travel industry is extremely complex, given the global scope of the value chain in this industry and the large number of stakeholders. As the sector's business in emerging markets grows, so do the risks and complexity of corruption. Corruption is now seen as a major obstacle to investment in some emerging regions, which may partially explain why there is a significant relationship between perceived corruption and competitiveness in the travel and tourism sector.
Under these conditions, the Aviation & Travel Industry Partners of the World Economic Forum have launched the "Safeguarding Aviation and Travel Value Chains Project".
Leveraging the Forum's Partnering Against Corruption Initiative (PACI), the project has created a space where leading aviation and travel companies can equitably analyze the transparency and corruption challenges they face in order to create a global level playing field that attracts investment and ultimately improves the competitiveness of international and regional aviation and travel value chains.