At the fifth UN Conference on the Least Developed Countries (LDC5) meeting on Tuesday, TUI Care Foundation unveiled a new EUR10 million (US$10.5 million) program to help nine least developed nations, including Laos, improve their tourist businesses.

Jost Neumann, the program director of the TUI Care Foundation, attended the meeting to propose a worldwide alliance to carry out the 10-year Doha Program of Action to hasten the transition of least developed nations out of their status as the world's most vulnerable regions.

He spoke to the Vientiane Times at the occasion about the Tourism Development Fund, which was established to help Laos and the other nine least-developed nations.

"Today, the Tourist Development Fund is being launched, and one of its nine target nations is Laos. Up to 2030, we intend to carry out the project in these nine nations, said Neumann.

Due to the country's stunning landscapes and strategic location in the Mekong region, the Foundation has learned that Laos has enormous potential for the development of the tourism industry. According to Neumann, the development of the tourism industry can significantly boost Laos's economy and reduce poverty.

He emphasized that the primary issues facing Laos, which also affect other developing nations, are the absence of a skilled labor force and the innovation and entrepreneurship required to realize the potential for tourism growth.

The main objective of the support program will be capacity building, with an emphasis on promoting tourist entrepreneurship in small and medium-sized firms, strengthening tourism-related education, and protecting cultural assets and the environment.

The government of Laos will also designate 2023–2024 as a Tourism Year and implement substantial initiatives to promote the nation and pull in tourists in advance of hosting the ASEAN Summit in 2024.