The tourism sector, which has been experiencing several challenges since 2008, is hoping to achieve an increased market share of four per cent over the next three years. The current market share is less than two per cent. The Trinidad Hotels Restaurants and Tourism Association (THRTA) presented this mandate to the Government as part of its budget proposal. THRTA said if a goal of four per cent market share is met, it would deliver strong, hard currency earnings, expand the business sector and create higher levels of employment. In the proposal, the THRTA, who has as its new president John Bell, said that based on 2011 figures, T&T's tourism industry contributed an estimated $5 billion, with total employment in excess of 80,000 people, with direct employment accounting for an estimated 33,000 people. "This is a significant contribution when one considers our country currently attracts less than two per cent of long-stay regional visitors, who spend approximately $200 million."
However, the total revenue for hotel rooms for T&T is estimated to end the year at $850 million, the THRTA stated. In its proposal, the THRTA?said the Tourism Development Company (TDC) has failed to implement an effective branding campaign and has not properly staffed the Visitor and Convention Bureau; the key to stimulating traffic to T&T. The hospitality body said most hotels in the Caribbean have upgraded and improved their room stock, but T&T has not followed suit. "Financial institutions have no confidence in the local sector because the Government has not demonstrated a commitment to build a sustainable tourism," read the THRTA?proposal. "Executing agencies, such as Tobago House of Assembly and TDC, have not been provided with adequate resources to effectively market the destination."
Solutions
The THRTA said there are several opportunities for growth.
They include:
• T&T can attract a greater share of regional market by co-ordination of efforts with implementing agencies to ensure a clear and consistent image is delivered.
• Establish a marketing fund using the hotel tax revenue earned, which would directly empower those working in the industry. Marketing efforts should be focused where it is most needed.
• TDC should be given an annual overseas budget of US$50 million based on an initial three-year plan.
• The Government must provide an innovative approach to investment incentives by developing a tax-free tourism industry.
• Establish the TDC fund, whose main objective is to inject cash equity into key projects
• Remove visa requirements from all targeted markets
• Reform the Central Statistical Office to provide accurate arrival data on a weekly basis
• Extend the length of stay for visiting yacht owners to one year
• Fast forward the Compulsory Licensing Proposal for Accommodation in T&T
• Improve the service levels for the tourism industry, a commitment could be given for the next five years for the non-taxable allowance to be raised to $65,000 for industry employees
• Foster Intra-Caribbean travel during the summer months - July and August. Provide a seat subsidy for Caribbean Airlines Ltd and Liat during this period to allow discounted airfares to be passed on to the travelling public to boost arrivals
• Remove the land license requirement in Tobago.
