Press Release

Long-term growth predicted for Trinidad & Tobago’s Tourism Industry despite global financial crisis

The World Travel & Tourism Council (WTTC) has projected long-term growth for Trinidad and Tobago’s tourism industry, despite the present global economic crisis.

Speaking at the Business Forum “The Economic Impact of Tourism – the Trinidad and Tobago Context,” hosted by the Tourism Development Company Ltd at the Hyatt Regency Trinidad on June 3, President of the WTTC Mr Jean Claude Baumgarten said while contraction is likely in 2009, the tourism industry will see growth in 2010.

“The Trinidad and Tobago market will rebound and when it rebounds it will rebound fast,” said Mr Baumgarten as he delivered the results of a Tourism Satellite Account (TSA) produced by the WTTC for the twin-island nation.

Predicting growth of just over four per cent for Trinidad and Tobago’s tourism industry, the WTTC President advised participants - comprising of senior Government officials and members of the business elite – to utilise the TSA when planning for the industry’s future.

“The study is available; it is up to you to make proper decisions,” said Mr Baumgarten, who added, “It is important this country develop travel and tourism to diversify and create jobs.”

The TSA’s findings included the importance of spending by domestic tourists and projections that the contribution of travel and tourism is expected to grow to 13 per cent of Trinidad and Tobago’s Gross Domestic Product by 2020.

Delivering the keynote address at the Business Forum, Trinidad and Tobago’s Minster of Tourism, the Honourable Joseph Ross, expressed Government’s support for the TSA system saying it is critical to development of the industry

“Accurate statistics, timely produced and using scientific methods of data collection and analysis, are the centerpieces of any effective tourism programme and, most importantly, the hallmark of good decision making and governance,” said Minister Ross.

“Without timely and comprehensive data the contribution of the tourism industry cannot ever be properly valued and truly appreciated. Perhaps this is the reason why we do not see tourism stories on the front page or even the business pages of the newspapers or on our television screens,” he added.

The Minister also noted that while the global financial meltdown has reduced the demand for travel, Trinidad and Tobago must take advantage of the lull to enhance the country’s tourism offerings.

“We must now focus on developing new tourism products, upgrading our present sites and attractions and significantly improving our service levels in order to attract the discretionary visitor,” he said.

The Minister also praised the forum for bringing, “A renewed vitality and dynamism in what we have to offer as a destination to the international traveller. They will also do much to boost the overall competitiveness of the tourism sector, create new business opportunities and chart a strategic direction for the future of our cooperation.”

Also speaking at the event was Professor Eddie Friel OBE, Expert-in-Residence at the Hospitality and Research Centre at Niagara University, New York.

In a dynamic address, which utilised examples from his stints with the Northern Ireland and Scottish tourist boards, Professor Friel urged genuine collaboration between the public and private sectors to promote the development of the sector.

“There is no other industry where five years from now we can guarantee, no matter where you started, you will be in a supervisory or management capacity… You can be the president of an airline, an international hotel company, an arts organisation, the scale of the impact of tourism cuts across every single, solitary thing we do,” he said to a rapt audience.

Stating that tourism cannot exist in isolation from the community, Professor Friel described the sector as a driver of development, wealth and job creation.

“If it (tourism) isn’t part of an economic development strategy, which is about generating wealth and creating jobs; if it isn’t about building bridges of opportunity between those jobs that are being created, and the people who are being denied access to them, then it will not work,” he said.

“We need to define the nature of the issues that we are trying to solve within our communities and we have to make sure that tourism is part of the solution, not part of the problem,” Professor Friel added.