Supply-Side Growth Key to Boosting Tourism Investment, says Bartlett

Jamaica Tourism Minister, Hon. Edmund Bartlett, has continued to advocate for the importance of tourism-dependent destinations owning the supply side of the industry to increase investments and earnings.

Speaking at the International Tourism and Investment Conference (ITIC) Global Tourism Investment Summit in London yesterday, the Jamaica Tourism Minister highlighted that owning the supply side has the potential to create favourable conditions for investors and to retain more of the foreign exchange earned locally from the industry.

“Tourism owns nothing yet depends on every other sector and industry to operate, and this is where we can capitalize on increasing the earnings.”

“Our farmers, manufacturers, and creatives can supply the increasing demands within tourism with their goods and services and earn more, leading to a greater retention of the dollar,” said Minister Bartlett.

Minister Bartlett was participating in the summit’s Investment Ministerial Panel under the theme: “The responsibility of governments to develop a strategic plan for an investment-focused tourism agenda of the future.” The panel included Ms. Mariana Oleskiv, Chairperson, State Agency for Tourism Development, Ukraine; Hon. Rebecca Miano, Cabinet Secretary for Tourism and Wildlife, Kenya; Hon. Vera Kamtukule, Minister of Tourism, Malawi; and Siby Diabira, Senior Manager, Western Europe, International Finance Corporation (IFC).

“Focusing on the supply side can also be used to attract more investment for tourism infrastructure by streamlining processes for potential investors. This approach represents a paradigm shift in how we attract tourism investment. Instead of solely focusing on demand generation through marketing, we can create the conditions that make our region irresistible to strategic investors,” the tourism minister noted.

“To also support greater access to our tourism value chain by retaining more of the foreign exchange earned, we established the Tourism Linkages Network to strengthen the partnership between tourism and other sectors like agriculture and manufacturing to ensure more local production. The more we can provide locally for the demands of tourism, the more we can generate wealth for our local suppliers and communities,” added Minister Bartlett.

The ITIC summit is a highly anticipated annual event on the World Travel Market (WTM) calendar that brings together tourism ministers, industry leaders, and developers from the tourism, travel, and hospitality sectors to connect with potential investors. It is a platform to promote global awareness and investment in sustainable tourism projects worldwide.

The Minister is leading a delegation at the 2024 WTM scheduled for November 5-7. WTM London is the most influential travel and tourism event globally. The popular event brings together the international leisure travel community, providing inspiration, education, sourcing, and benchmarking to travel professionals while providing exhibitors a place to do business and showcase their services to the international press.

SEEN IN IMAGE:  Minister of Tourism, Hon. Edmund Bartlett (2^nd right) engages with the audience at the ITIC Summit in London during a panel discussion on: ‘The responsibility of governments to develop a strategic plan for an investment-focused tourism agenda of the future.’ Other participants included (L-R) Siby Diabira, Senior Manager, Western Europe, IFC; Hon. Vera Kamtukule, Minister of Tourism, Malawi; Hon. Rebecca Miano, Cabinet Secretary for Tourism and Wildlife, Kenya, and moderator Carmen Roberts, BBC presenter. – image courtesy of Jamaica MOT

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