IDB, UNWTO partner on tourism-tracking project
Published:Sunday | May 1, 2011 | 12:00 AM
Tourism in Latin American and the Caribbean was last estimated as a US$58-billion industry two years ago, and about 74 million visitors vacationed in the region last year, the most current data indicate.
Two agencies, which see tourism as one means of distributing wealth throughout populations, have combined resources on a project to "harmonise" statistical data collection across markets for the coordinated measurement of tourism's regional economic impact; to strengthen governance structures, including tourism promotion agencies; and to review the movement of capital and other factors that drive investment.
The Inter-American Development Bank (IDB) and United Nations World Tourism Organisation (UNWTO) says the statistical component of their project includes plans for a regional tourism observatory. The initial phase, which began with a one-week workshop in mid-April, covers Uruguay, Brazil, Argentina, Paraguay, and Chile.
The agencies not only see tourism as a growth industry for the region, but also as a reliable source of jobs.
"The cooperation programme between IDB and the UNWTO aims to contribute to the process of economic and social development in Latin America and the Caribbean through tourism," they said in a joint statement on April 21.
fast-growing sector
"The sector is one of the largest and fastest growing in the region, and plays a critical role in creating jobs, providing foreign currency, and generating and distributing wealth."
The IDB-UNWTO project runs until the end of 2012. The second component will focus on governance, and the third on investment.
"Research will be carried out on the key factors driving private-investment decisions, including legislation, fiscal policy, credit lines, warrants, administrative procedures, and capital movement," the agencies said.
In the area of public investment, the UNWTO-IDB project will focus on the fact that most investment decisions which impact the sector are taken by multiple areas in government.