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Tourism Economic Impact Assessment for St. Lucia to be Reviewed
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Tourism Economic Impact Assessment for St. Lucia to be Reviewed
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Contact: Tesa St. Ange Thursday, November 02, 2000 - Tourism partners will soon get a more accurate measurement of tourism’s contribution to St. Lucia’s economy. The Caribbean Tourism Organisation (CTO) has recently completed a Tourism Economic Impact Assessment for St. Lucia, the findings of which will be presented on November 09, 2000 at the NIS conference centre. The assessment exercise began in January 1999, with a team of two consultants, Dr. Edmund Henry, Economic Advisor and team leader Thomas Alexander, Economic Analyst. The tourism economic assessment exercise is part of a CTO pilot study to establish a uniform methodology among its member territories for the more accurate assessment of the economic impact of tourism. According to St. Lucia’s Director of Tourism, Hilary Modeste, calculations of the economic impact of tourism in St. Lucia are often confined to the contribution of the hotels and restaurants sector to the gross domestic product. He argues that these indicators are inadequate to fully capture tourism’s contribution to the economy. According to Modeste, the tourism industry benefits a wide range of activities and enterprises such taxi drivers, tour operators, vendors, the construction industry, banks in the provision of foreign exchange transactions services for visitors and farmers who produce for the hotels Next week’s meeting will explain the new methodology for assessing the tourism sector to various tourism partners and allow them to review it critically and make any necessary amendments. |
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