1. Caribbean Tourism: Igniting the Engines of Sustainable Growth
- Author:
- Anthony T. Bryan
- Publication Date:
- 11-2001
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Tourism drives economic growth in ways that make it one of the best engines for job creation and development for poor countries that possess natural beauty and relevant infrastructure. The industry is highly labor intensive and encourages entrepreneurship. Under its ambit, property owners, restaurants, and local suppliers of goods and services, among others, develop the habits of risk taking without which no economy can realize its full potential. Tourism holds out the prospect of a better life for those stakeholders who make money from it. Not unlike trade, it improves an economy's competitiveness. Trade does so because it stimulates local suppliers to match the quality and variety of imported goods. Tourism does so because returning travelers to a destination demand the goods and services they have seen in other countries (Elliott 2001).
- Topic:
- Development, Environment, and International Trade and Finance
- Political Geography:
- United States, Latin America, and Caribbean