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Sport Ministry seminar to combat crisis
The Ministry of Sports and Youth Affairs took a giant step in the fight against the crippling economic crisis being experienced, by making its first official move toward sports tourism.
Minister of Sports Darryl Smith was on hand for a seminar for the National Governing Bodies (NGBs) entitled ‘Bridging the Gap’ at the National Racquet Centre (NRC) in Tacarigua on Monday. A release yesterday stated that the move was focussed on the pressing need to diversify their sources of income given the economic challenge the country faces.
The seminar, the first for the year, was attended by over 35 NGBs which were eager to learn and discuss strategies to supplement their annual subventions provided by the Ministry of Sport & Youth Affairs. It comprised a competent panel of presenters from the Ministries of Finance and Labour, as well as valuable private sector input from representatives of TSTT and Nestle.
Minister Smith in his address shared his optimism about the way forward, despite the economic challenges, stressing that major players in the sport industry, including the MSYA and Sports Company of T&T, must find means of retaining the revenue earned to reinvest into sport development and facility maintenance.
He also stressed the need for greater collaboration among NGBs in fundraising and event hosting, while putting forward his own recommendations which included taking advantage of online gaming and merchandising opportunities.
Apart from combating the economic situation, the seminar also served to promote stronger alignment between NGBs and corporate entities, many of whom are willing to provide support to enhance the of the NGBs. This collaborative effort is expected to lead to exposure of corporate brands.
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