The United Nations Conference on Trade and Development released a report, indicating that while the service industry in the least developed countries is expanding, growth is concentrated in low-productivity activities and cannot create large-scale prosperity. According to reports from Hong Kong Radio, the report states that these countries face employment challenges and will need to create jobs for about 13,200,000 new entrants to the labor market each year by 2050. Although tourism accounts for one-third of service exports, the income has not significantly translated into employment growth or economic transformation. UNCTAD Secretary-General Greenspan stated that the service industry requires a coordinated national strategy and a favorable global environment to effectively promote industrialization and enhance competitiveness.