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Tourism key to foster trade for Caribbean

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Staff Writer | July 23, 2017
A United Nations-backed report has stressed the need for greater recognition of tourism as a key service export in order to attract technical assistance to the sector in least developed countries (LDCs), including the Caribbean.
Caribbean beach
Tourists   New UN-backed report
The report says although tourism represents seven per cent of all international trade and 30 per cent of the world's services trade, it is often difficult to direct trade-related technical assistance towards the sector because tourism and trade tend to fall under different line ministries, the report says.

Produced by the World Tourism Organization (UNWTO), the International Trade Centre (ITC) and the Enhanced Integrated Framework (EIF), the report, titled, “Tourism for Sustainable Development in Least Developed Countries”, was launched on the occasion of the Aid for Trade Review held in Geneva.

In LDCs, tourism accounts for seven per cent of total exports of goods and services – a figure that stands at 10 per cent for non-oil LDC exporters.

The report says that tourism can make a strong contribution to the economies of LDCs, “but successful interventions in tourism require strong collaboration across government agencies as well as across different actors at the regional or local level”.

According to the UN, the report also aims to increase the commitment and investment in coordination and raise tourism's prominence in trade-related technical assistance “as to ensure the sector delivers on its powerful capacity to create jobs and incomes, where they are most needed and for those who are most vulnerable – including youth and women”.