Tourism remains best option for ECCU nations – Bank Governor

Eastern Caribbean Currency Unions continues to have an advantage in tourism, says Sir K. Dwight Venner (Internet photo).

BASSETERRE, St. Kitts – The eight Eastern Caribbean Currency Union (ECCU) nations must move to convert their “comparative advantage” in tourism into “a competitive advantage” according to governor of the Eastern Caribbean Central Bank, Sir K. Dwight Venner.

Sir Dwight, in response to a question during the ECCU Economic Review last week, said he did not think ECCU nations were investing too much of their limited resources into tourism development.

“The interesting thing about tourism is that it is the industry in which we have a comparative advantage. And, in fact, what we have to do is to turn it into a competitive advantage because, unlike all the other industries which are available to us, it’s the only one which provides us with tremendous linkages, both backward and forward,” Sir Dwight said.

He said that Organisation of Eastern Caribbean States (OECS) ministers of finance at a recent meeting contemplated a cross-the-board approach to tourism. “So that I think that in terms of tourism, having had a natural advantage in that area, we should seek to see how we can diversify our sources of tourism,” he said as he identified, China, Brazil, and Latin American countries as places to which ECCU nations can look to for visitors.

“What is very interesting is that in our movement from primary production to tourism we have not gone through the industrial stage. And what I find interesting, as a researcher, is that not having been through that stage, there are some issues which we have to deal with, like workforce discipline, innovation, things of the sort,” Sir Dwight said.

“So, I think we have to see tourism as that particular catalyst for it,” he further stated, adding that “the issue” is that it is costly for each ECCU nation to sell its own tourism product. “… that is what the ministers of tourism have been addressing. … For us, tourism really poses the best prospects,” he said.

Sir Dwight said that tourism earnings across the ECCU in 2011 increased 4.6 per cent but was still below the levels registered before the global financial crisis began in 2008.

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4 thoughts on “Tourism remains best option for ECCU nations – Bank Governor


    Posted by Jason | February 28, 2012, 01:06
  2. Well Jason at last I agree with one of your postings. Its good to know that you have recognised the inability of the Gonsalves government.

    The truth is, its the only option left to us that the Gonsalves government hasn’t completely destroyed, give them a little more time I am sure they will succeed.

    Posted by Peter | February 29, 2012, 19:39
  3. really, tourism. Then i think by now we should get Kingstown clean. Too many dirty and smelly drains in kingstown

    Posted by sam | March 1, 2012, 06:35
  4. ALBA – FOOD, [to Nationalise the Production and Distribution of all Food Stuffs].

    Formation and Implication of:

    The Alba-Food Fund; The Grand National Alba-Food Company; PETROCARIBE;

    ALBA – ENVIRONMENTAL, [to bring together all the ALBA members for Environmental Projects.
    Formation and Implication of]:

    1. Grand National Water, Sanitation and Water basin Project.
    Project description:
    Water and sanitation: Extend the coverage levels in terms of drinkable water and environmental sanitation through the rehabilitation, improvement, maintenance and construction as well as the installation of services.
    Water basins: Contribute to the harmonious balance between social and economic development, along with the rational use of the existing natural resources and with the inclusion of the communities located in the rural areas, in order to guarantee the productive capacity of the water resource.

    2. Grand National Project for the implementation of a Grand National Forest Enterprise.
    Project Objective: Create the Grand National ALBA forest Enterprise, with areas of technical , socio-productive , environmental and financial cooperation in the forest sector among the countries comprising ALBA.

    ALBA – SCIENCE AND TECHNOLOGY [to Nationalise Science and Technology].
    Formation and Implication of:

    1. Grand National Project “ALBA Centre for a fair, decent, humanitarian, complementary and socially inclusive science, technology and innovation”.
    Project Description: It is aimed at the creation of an intra-regional instance that supports and brings together the existing scientific and technical skills in the countries of the region, through implementing a management system in Science, Technology and Innovation (STI /CTI), geared to the needs, opportunities and levels of scientific and technological development – in order to promote the generation, appropriation and transfer of knowledge and technologies in key sectors. It is a matter of complementing the capacities and resources to facilitate the exchange of results and the talent mobility, in support to a shared vision, where the countries assume the responsibility of promoting development from the STI / CTI with emphasis on its socio-economic impact; and simultaneously offer the scientists, technologists, businessmen, producers, and local communities the opportunities to create new ways of building a fairer and more equal society.
    The new instance, guarantor of the viability of the Grand National Science and Technology project, shall be responsible for the central coordination and will cover the support to the technological platforms and national capacities with a view to formulating and implementing integrated STI projects. Likewise, the new shared focus on the promotion of Science and Technology will serve as a driving force for development between the member countries, sharing participation instruments and similar visions on the appropriation of generated technologies, dissemination and popularization mechanisms of STI, among other topics.

    2. Telemedicine System in support of primary health care in rural and remote areas within the ALBA peoples.
    Project Objective: Extend treatment capacity in terms of health in rural and remote areas through the immediate implementation of a Telemedicine system supported by Information and Telecommunications Technologies, using the Simón Bolívar satellite’s capacities, and unifying the criteria for the harmonization of an ALBA patients’ basic but comprehensive clinical record.

    3. Long-distance education: Support System for the Municipalization.
    Project Objective: Support core teaching and learning processes within the National Training Programs (NTP) of the Venezuelan Universities that are provided under municipalization, from the provision of an integrated package of services, based on Information and Communication Technologies (ICT) that meet the identified needs regarding the evolution of these processes.
    (Services: repository of digital teaching materials; laboratory of educational materials; virtual support environments).

    4. ALBA Project – Building and launching of the ALBA Satellite.

    5. Scientific Forum Project.

    6. Project for the creation of the ALBA School of Film and Television.

    ALBA FAIR TRADE, [to Nationalise Import, Export, Retail and Wholesale Shops].

    1. Grand National Imports and Exports Enterprise (ALBAEXIM).
    Project Objective: Import and export inputs, equipments, machinery and finished goods in order to stimulate industrial development and meet the needs of the member countries of ALBA. In this way, a change is brought about in regards to the situation of dependence on the monopolies, oligopolies and transnational and multinational companies.

    2. ALBA Shops
    Project Objective: Market the native or domestic products of the ALBA countries, in order to foster knowledge, use and consumption. In addition, break oligopolies and penetrate international markets while introducing not only the products, but also the Grand National Enterprise Approach.

    ALBA – CULTURE, [to bring togther the Cultures of ALBA members].

    1. Grand National ALBA Cultural Project.
    Project Objective: Invest with the concept of Grand National enterprise in the Alba Cultural Fund Enterprise, created in January, 2007, with headquarters in the city of Caracas – Venezuela, in order to develop the strategic plan of ALBA Cultural for the 2008 – 2010 period.
    The project consists of 5 programs, which, in turn, include 64 actions.
    Program 1. Production, distribution and promotion of cultural goods and services.
    Program 2. Articulation and development of networks with social movements y cultural entities.
    Program 3. Training of human resources for culture.
    Program 4. Legitimation of the Latin American and Caribbean cultural values.
    Program 5. Socio-cultural impact development among our peoples.

    ALBA – EDUCATIONAL, to bring together all ALBA Education Programs.

    1. Grand National ALBA Project / Literacy and Post-Literacy.
    Project Objective: Promote the application of the literacy and post-literacy programs in the ALBA countries.

    2. Grand National ALBA Education Project. University of the Peoples of ALBA (UNIALBA).

    Project Objectives:
    1. Generate humanistic, scientific, technological alternatives and solutions as well as knowledge forms that contribute to the shaping of the Great Latin-American and Caribbean Nation.
    2. Promote the union of the ALBA peoples through training and knowledge generation processes that allow transformation and dignified living conditions.
    3. Develop a humanistic, critical and socially inclusive education through training processes, intellectual creation and social connections which are con-substantial with the needs and cultural diversity of our peoples and also with the promotion of a multi-polar world.

    ALBA ENERGY, [to Nationalise the Energy and Distribution Industry].

    1. Project for the creation of a Grand National Energy, Gas and Petroleum Enterprise.
    Project Objective: Strengthen the technical, financial capacities and disposition of the energy resources of each State party to ALBA Energy Treaty in order to direct the development of activities in the entire value chain regarding liquid, gaseous hydrocarbons, electric power and alternative energy.
    ALBA INDUSTRY AND MINING, [to Nationalise the Mining Industry].

    1. ALBA Productive Complexes Projects.
    Project Objective: Ensure an articulation between the producers, products, territories and consumers involved in the different stages, relying on the support of suitable mechanisms of technological services, supply of inputs, machinery and equipments, transport services, storage and commercialization. This project includes the development of three sub-projects:
    Grand National Enterprise for the development of the stainless steel industry.
    Grand National Enterprise for the production and marketing of aluminium articles.
    Development of white goods plants for the ALBA countries.
    2. Grand National Cement Enterprise.
    Project Objective: Design a framework for the construction of portland cement plant having a 1.000.000 tonne production capacity per year, in Oruro or Potosí departments with the participation of Cuba and Venezuela.

    3. Mining Research, Exploration and Analysis Institute of ALBA (INGEOALBA).
    Project Objective: Implement a company that draws up the geological map of the ALBA countries in order to determine the magnitude of the raw materials on which our sovereign integration project is based for the sovereign liberation. This company will have the powers of research, exploration, prospecting and certification of mineral reserves.

    4. Mining and Metallurgy Enterprise.

    5. Aluminium Enterprise. 6. Iron and Steel Enterprise.

    ALBA MEDICAL ‘THE ALBAMED CO’, [to Nationalise the Drug and Medicine Industry].

    1. Grand National Project for the creation of the Regulatory Center of Medicines of ALBA (ALBAMED).
    Project Objective: Develop and implement the single harmonised and centralized system for the sanitary registration of the medicines commercialized by the Grand National importer, exporter and distributor of medicines of ALBA with their previous and post-marketing components in order to have quality medicines assessed in time with quality, safety and efficiency , as part of the new selection – procurement – distribution system of medicines of ALBA.

    2. Creation of a Grand National distribution and trading Enterprise of pharmaceutical products.
    Project Objective: Create a Grand National distribution and trading Enterprise of pharmaceutical products of ALBA, developing a fair drug trade that favours the public health systems of the member countries . Also, activate the distribution mechanisms of pharmaceutical products in accordance with the particularity of each country, which help cover 25% of the demand.

    3. Clinical Genetics and Psychosocial Study Program for Disable People.
    Project Objective: Promote integration, without discrimination against the disabled people in the socio-productive, political and cultural area , as well as the promotion of their individual potentials.


    ALBA TELECOMUNICATIONS, [to Nationalise the Radio, TV and Telecomunications Industries].

    1. Grand National for the creation of a Grand National Telecommunications Enterprise(ALBATEL).
    Project Objective: Create the Grand National Enterprise to promote the comprehensive sustainable development of the peoples belonging to ALBA, in order to provide, among others, industrial capacities, technical assistance, operation and maintenance of telecommunications networks through subsidiary companies that operate outside Venezuela, as well as staff training, exchange of experience, engineering, research, development and technological innovation, and networks relying on high degree of reliability, safety and invulnerability.

    2. Bi-National Media Observatories Projects.

    3. Project for the Radio of the South.


    ALBA – TRANSPORT, [to Nationalise the Transport Industry].
    1. Grand National ALBA Infrastructure Project.
    Project Description: A Grand National infrastructure group was constituted and work will be undertaken on the projects basis, presented by the countries, in accordance with their needs and priority attention areas, that is to say, the fields of: maritime communication, development of the railway infrastructure, development of the airport infrastructure, development of the port infrastructure and possible establishment of the Grand National aeronautical maintenance enterprise , Grand National air transport and development of inland waterway transport.


    ALBA – TOURISM, [to Nationalise the Tourist Industry].

    1. Grand National ALBA Hotel Industry, to Nationalise the Hotel Industry.
    Objective: Set up the Latin American and the Caribbean hotels network called ” Grand National ALBA Hotel Chain”, in order to provide incentive to tourist policies, which allow for the strengthening of the ALBA countries as a competitive Tourist Multi Destination.

    2. Grand National undergraduate and postgraduate Education and Training Program in the tourist field concerning the framework of UNIALBA (University Networks for the peoples of ALBA)
    Objective: Train, develop and strengthen the human talent in tourism at university level in order to foster the sovereign development of this sector in the framework of the union of the peoples.

    3. Network of Institutes for Basic and Specialized Training in ALBA Tourism
    Objective: Create a network of institutes, which will consist of a basic and specialized training centre for human talent that works at different levels of the Tourism System, in order to standardize certification programs and increase the quality standards in the provision of service with unwavering and profound ethical values within the revolutionary vision of the South.

    4. Launch of multi destination-based products of ALBA
    Objective: position the multi destination-based tourism product of ALBA and stimulate the economy of our peoples through the contribution of tourism.

    5. Master Plan for Social Tourism
    Objective: Guarantee the constitutional law, enjoyment, leisure and social recreation for low-income people and organized communities of our country, as well as the acquisition of knowledge about a culture different from ours but with socialist and revolutionary ideas.

    Posted by Peter | March 3, 2012, 21:25

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