Paul A. Reid, Staff Reporter
FRANCIS
WESTERN BUREAU:
JAMAICA AND most of the Caribbean have failed to fully maximise their earning potential from the tourism industry and as much as 80 per cent of the money spent by visitors remain outside of the local economies, says Patricia Francis, managing director of Jamaica Promotions Corporation (JAMPRO).
In addressing the annual dinner of the Jamaica Institution of Engineers (JIE) western chapter at Montego River Gardens near Montego Bay on the weekend, Mrs. Francis said only a small percentage of the tourism value chain remains in the country.
She argued that until regional tourism playerstook a unified approach where they could offer all the services, then the region would not reap the full benefits of the industry.
Mrs. Francis noted that expenses such as reservation and travel represented a "substantial amount of visitor vacation budget" that is spent before visitors arrive on our shores.
The JAMPRO managing director said that an international study estimated the size of leakage from the Caribbean as approximately 80 per cent, "meaning only 20 per cent of the tourism value chain remains in the country."
By comparison, she said Thailand had a leakage of 70 per cent while India's was 40 per cent.
CLUSTER DEVELOPMENT
She said in order for Jamaica and the region to maximise the benefits from tourism, "We must improve our value chain and to do so the recommended approach is cluster development."
The JAMPRO president reported that just over a year ago the agency and the Ministry of Development embarked on 'Export 2010 initiative' a unified approach for a sustainable national export strategy.
While Export 2010 is the strategy to achieve economic development by being export focused, she said the country must move beyond the export of primary goods to include the export of services, of which tourism is most significant.
Mrs. Francis said the strategy was to treat tourism as an export, noting its multiplying effect as a key factor in export development and performance.
