The sad reality is some Govts in this region, I am told, have the data to calculate the total net fiscal and FX contribution of the hospitality sector. But not one of them publishes it. Why?
Without data we don’t know if tourism is a net gain or a net transfer of wealth outward.
@Marladukharan
When an investor develops a hotel in Bahamas, let’s say USD$400m initial CAP;
He doesn’t transfer that sum into Bahamas;
He deposits in US, leverages that sum in $B in Bahamas; increasing drawdowns on Reserves without contribution.
Operationally bookings/Rev do not enter Bahamas!
@Marladukharan
Especially in the Jamaican market where so much of the major hotels & other entities are now foreign owned, a major change from previous decades, so it’s important for us to know how much FX is exported and how much remains in our economy.
@Marladukharan
Tourism benefits a few at the top. There's no trickle down into society in a amount that really matters. Persons that already had means get richer, and the masses are kept undernourished.
@Marladukharan
@lukeyism
The tourism superstructure is completely foreign owned and the sad reality is our GDP figures are inflated by FDI and earnings that are repatriated back out by companies & ex-pacts. I would be surprised if Barbados earned 30cents from a dollar bds.
@Marladukharan
@lukeyism
Tourism industry isnt locally owned so what does it contribute….barely anything and then the salaries of the masses at the bottom. It wont be published because then it would wake up Bajans to see it is an extension of the plantocracy & slavery.
@Marladukharan
@vidokti
Why? Because it’s showing net outwards transfer, so making mockery of claims tourism so good for the region. More likely if tax expenditure included in what countries offered to get sector running. Great shell game!
@Marladukharan
If a hotel is profitable & the shareholders reside outside the country, then it's a no brainer. The flip side, we get to eat a food locally. Some of those north coast lands should be made available to local investors & developers. We have excellent hotel managers here as well.
@Marladukharan
A great idea? Certify hotels that are a net positive to the country, in terms of using local labor, materials, food, and being environmental friendly. This “rating” could help visitors choose which places to stay. Not undoable.
@Marladukharan
Jamaica two major airports made $29 billion in 2022 should be More in 2023. If Jamaica can bring it's Debt to GDP from 150 To 80 even during a pandemic. Tourism must be doing something.
@Marladukharan
New room Ja.
100 palm beach villas
700 secret resorts
2500 Bahia Principe
900 sandals St. Ann's
1000 Harmony cove
650 Planet Hollywood
RIU 800
2000 Hard rock hotel & casino
433 vista
280 Dream resort
2000 Princess resort
950 grand palladium negril
Plus more
1000 Wyndham
@Marladukharan
Great article. As someone who was brought in to work with Visit TT and then started asking certain questions, regarding data, points of stats data, veracity of collection points, etc. locally - it doesn't exist. I realised no answers were forthcoming and started digging deeper
@Marladukharan
Uncovered a lot of WTF moments. Realised who's getting contracts. Why Hyatt floors fit for 200 store just 20 employees on fat salaries, and why tons of office equipment are collecting dust. Given the corruption and nepotism I gathered fact on, it's no surprise the data is secret
@Marladukharan
Eco-tourism, as recently seen, and food tourism, are vanity projects funnelling money into a certain few. While issues such as accessibility, marketing/training, education and line item'd and budgeted for, and never enacted - despite seeing monies claimed as spent
@Marladukharan
I pulled out. Left IP being executed which I've been advised to sue on. But shockingly, seeing tourism politicised is what irks me. There are genuine people of colour who need help and who can help the economy. Rather than spending on foreign content and cultural appropriators
@Marladukharan
Marla, kindly say for all to hear what is your professional opinion as to why these “Graduates” many of the bunch - UWI,
lack the professionalism to provide citizens with data, which can assist citizens in both understanding and making sound decisions!