Tourism, international business go hand in hand
Tuesday September 13 2011 | 08:19 AM

There is a natural nexus between the tourism and international business sector – this country’s number two industry in terms of foreign exchange earnings.

That is the view of the Minister of Tourism, Richard Sealy. He was at the time addressing those gathered for a meeting of the Democratic Labour Party’s St. James South branch on Sunday evening at the branch office in Wanstead.

“It is already our number one industry in terms of corporate tax takes. International business has passed out tourism in terms of corporation tax and my own view is that eventually – and some of us in this room may be alive to see it – it possibly will pass out tourism in terms of foreign exchange earnings. It could happen, I can see it happening and the way I see it is that doesn’t mean that tourism is going to decline. In fact, I think that the two can work hand in hand and a good example of that is the same arrangement we trying to get going in Brazil and eventually Panama,” he said.

Minister Sealy maintained that Latin America is a legitimate market and is emerging as a big player globally, and therefore cannot be overlooked.

“Apart from all of the other considerations, business opportunities and tourism opportunities, Panama as you know has an extremely powerful link with Barbados historically and culturally, and we all know the role that Barbadians played in building the Canal... and we want to see that we can get those ties fastened and battened down, that we can enjoy a real, deep relationship that goes beyond, as I said, the whole tourism element, international business services and trade generally, and of course the cultural exchanges,” he added.

With that in mind, he said that it is imperative that Barbadians are well equipped to deal with the new approach that his ministry is taking to tourism and that is why, he said, Government is looking at offering Barbados as a international business jurisdiction for countries in Latin America, because they realise that as a country, we cannot rely on the traditional sources of income alone anymore