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Tourism going way of sugar - Professor says industry heading for failure
Published: Sunday | September 18, 2011 1 Comment
Professor Avinash Persaud - Photo by Janet Silvera
Janet Silvera, Senior Gleaner Writer
Marigot, St Martin:
Blaming the current state of the tourism industry on complacency of citizens in the region, an international finance and public-policy expert says the Caribbean tourism industry is heading in the direction of the failed sugar industry.
Professor Avinash Persaud, who was born in the region, was speaking at the inaugural State of the Industry Conference at The Westin Hotel in St Martin Friday morning, criticised the region's people for adopting complacency, a posture that is aimed directly at keeping them behind their competitors.
Professor Persaud, addressing some 200 delegates, spoke of the fact that 100 years ago the Caribbean was dependent on the then profitable sugar, which is now a footnote in the lives of the people.
"Sugar failed because of lack of investment by the private sector, and fear and complacency will take us in the same sugar direction," he predicted, adding that focus needs to be on crime, the environment and service quality.
Zero-tolerance approach
Suggesting that the region was lucky to have a tourism industry at all, he asked, "How can it be sustainable to have a region with the highest crime rate in the world?" Accordingly, he feels there is need for zero tolerance on crime.
Pointing to the fact that politicians and police officers had become apologists, he said, "Criminals do not have a highly developed sense of moral duty, and you see that in Trinidad and Jamaica."
In what could easily be described as one of the hardest-hitting presentations at the conference, Professor Persaud warned that the tourism sector must be careful not to make the same mistakes it did, and is urging stakeholders, the ordinary people and the financial institutions to commit by reinvesting in the industry.
"The Caribbean is a mirror image of the world today. In the Caribbean, we have assets but no money which is not attractive for investors. We need to do a better job to engage, exploit and employ available capital in the region," he argued.
Idle funds
According to him, records show that there is US$10 billion sitting in the region's banks, while another several billions in pension scheme are there untouched, while there is need for that capital to push the industry forward.
He is calling on all the countries of the region to first establish individual environmental balance sheets, "assets versus liabilities", while rethinking the way they exploit the environment.
In addition, the professor said there was a critical need to raise the service quality to international standards and implement benchmark of the expectations.
He added, "We sit in the middle of two of the largest markets, being North and South America, which is larger than Asia. What fails us is complacency and hunger. The region needs to come together and replace fear with desire to exploit opportunities and employee capital."
Janet.silvera@gleanerjm.com
Published: Sunday | September 18, 2011 1 Comment
Professor Avinash Persaud - Photo by Janet Silvera
Janet Silvera, Senior Gleaner Writer
Marigot, St Martin:
Blaming the current state of the tourism industry on complacency of citizens in the region, an international finance and public-policy expert says the Caribbean tourism industry is heading in the direction of the failed sugar industry.
Professor Avinash Persaud, who was born in the region, was speaking at the inaugural State of the Industry Conference at The Westin Hotel in St Martin Friday morning, criticised the region's people for adopting complacency, a posture that is aimed directly at keeping them behind their competitors.
Professor Persaud, addressing some 200 delegates, spoke of the fact that 100 years ago the Caribbean was dependent on the then profitable sugar, which is now a footnote in the lives of the people.
"Sugar failed because of lack of investment by the private sector, and fear and complacency will take us in the same sugar direction," he predicted, adding that focus needs to be on crime, the environment and service quality.
Zero-tolerance approach
Suggesting that the region was lucky to have a tourism industry at all, he asked, "How can it be sustainable to have a region with the highest crime rate in the world?" Accordingly, he feels there is need for zero tolerance on crime.
Pointing to the fact that politicians and police officers had become apologists, he said, "Criminals do not have a highly developed sense of moral duty, and you see that in Trinidad and Jamaica."
In what could easily be described as one of the hardest-hitting presentations at the conference, Professor Persaud warned that the tourism sector must be careful not to make the same mistakes it did, and is urging stakeholders, the ordinary people and the financial institutions to commit by reinvesting in the industry.
"The Caribbean is a mirror image of the world today. In the Caribbean, we have assets but no money which is not attractive for investors. We need to do a better job to engage, exploit and employ available capital in the region," he argued.
Idle funds
According to him, records show that there is US$10 billion sitting in the region's banks, while another several billions in pension scheme are there untouched, while there is need for that capital to push the industry forward.
He is calling on all the countries of the region to first establish individual environmental balance sheets, "assets versus liabilities", while rethinking the way they exploit the environment.
In addition, the professor said there was a critical need to raise the service quality to international standards and implement benchmark of the expectations.
He added, "We sit in the middle of two of the largest markets, being North and South America, which is larger than Asia. What fails us is complacency and hunger. The region needs to come together and replace fear with desire to exploit opportunities and employee capital."
Janet.silvera@gleanerjm.com
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