“If tourism is to become a significant economic driver, then our approach to developing this sector must be multifaceted.” This heralded the segment on Tourism Sectoral Incentives in the 2018 Budget. As one of the more globally competitive sectors, competition for market share is linked directly to competition for investment, in particular foreign direct investment. The development focus therefore, should be on attracting visitors as well as investment in the development of tourism products including accommodation, transport and amenities.
This is according to the Tourism and Hospitality Association of Guyana [THAG] in a statement.
THAG has outlined that remaining competitive is critical to the long-term sustainability of the local industry even as it pointed out that Minister of Finance, Mr. Winston Jordan, has delivered a well-crafted account of Government’s plan to drive development and sustainability in the industry. Budget 2018 has addressed among others, three areas in the opinion of the Association, critical to the support, development and sustainability of the local sector. These are: Support for the Guyana Tourism Authority in bringing a Tourism Development Plan and Destination Marketing Plan to implementation; Fiscal incentives for the Tourism and Hospitality Industry in the form of duty removed from vehicles and Support for domestic tourism.
THAG views these measures as Government’s recognition of the contribution tourism makes in providing livelihoods and of the industry as a contributor to the country’s GDP. It is heartening to the Association and its membership that the aforementioned areas, which had previously been highlighted in the interaction between the Association and the Minister are coming to fruition. THAG has therefore applauded the Minister and the Government in taking these steps towards guaranteeing the sustainability of the industry. The Tourism and Hospitality Association of Guyana remains committed to the Green Agenda and in continuing its partnership with the Guyana Tourism Authority in promoting and sustaining Guyana as a tourism destination.