ECONOMIC IMPACT OF TOURISM ON THE ECONOMY OF THE
BRITISH VIRGIN ISLANDS 1998
On the Release of the Joint EU-CTO-BVI
Economic Impact of Tourism on the Economy
of the British Virgin Islands 1998
Good Morning,
Ladies and gentlemen, today marks a milestone in the development of economic information on the impact of tourism on the economy of the British Virgin Islands.
We are gathered here to receive the final result of a study financed by the European Union and the Caribbean Tourism Organization. We at the Development Planning Unit are especially proud to release the summary of the findings of this exercise and to recognize the efforts of those persons who were responsible for the success of this endeavour.
We could not let this opportunity go by without highlighting the fact that this project, one of many which we have either concluded or have in the pipeline to improve statistics in general and tourism in particular. We are presently working in conjunction with the departments of Labour and Immigration to re-develop a comprehensive and state-of-the art Border Control database software to produce statistics virtually in real time.
Coupled with our present initiatives in statistics and development planning, this project which we are completing today and tomorrow will provide Development Planning Unit staff with the skills necessary to undertake this exercise annually. We see this project as part of government’s commitment to openness, transparency and accountability. It represents part of the Development Planning Unit’s effort to provide decision support information to our business community and tourism sectors operators.
We fully recognize the importance of tourism as generator of income and a provider of employment. In fact, tourism is the largest employers employing more than 25% of workforce.
In the exercise is very timely in that the BVI Tourist Board is embarking on a fuller implementation of the National Tourism Development Plan (NIDP) and we are the Development Planning Unit (DPU) are completing the second of three phases of the development of a Balance of Payments and National Accounts compilation system.
Tourism generates more economic activity that any other sector and it is our most dynamic sector. There are more linkages between tourism and the other sectors than between any other sector and the rest of the economy.
This assessment of the economic impact of tourism will provide all or most of the management information required for the development of policies, strategies and programmes. This study comes at a defining time in our long-range thinking and planning for tourism as one of the leading sector in our overall development strategy.
It is expected that the BVI Tourist Board, the Chief Minister’s Office and all relevant planning agencies will use this data to base their executive, development and operational decisions.
Naturally, some of you gathered here might be thinking what went into this project from the BVI end, if anything. Well, I am pleased to tell you that national accounts, balance of payments, household income and expenditure survey data, tourism statistics, trade statistics and government finance statistics all prepared by the staff of the Development Planning Unit, was part of our contribution.
In terms of the BVI contribution, I would like to recognize the hard working of Mr. Michael Malone, one of the statisticians who worked directly with the consultants and endured my constant for data, promptly. At the same time I would like to acknowledge the supervisory efforts of Mr. Raymond Phillips, our most senior statistician who is presently extremely working hard in connection with a much larger national statistics programme.
I want to conclude, by once again thanking all the persons who made this project possible including the European Union, the Caribbean Tourism Organization, the Staff of the Development Planning Unit, Dr. Henry and Mr. Thomas Alexander. As well, I would like to thank the rest of the audience for showing up.
Ladies and Gentlemen, Thank you.
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