[PPT] - Tourism Performance past 50 Years Tourism has grown significantly PowerPoint Presentation

SLIDE 1

SLIDE 2

Tourism Performance past 50 Years

 Tourism has grown significantly since independence  Tourist arrivals have increased from a modest 35,000 in

the 60’s to 591,000 in 2015

 Cruise passenger arrivals have also seen tremendous

growth over the period to also register around 586,000 annually

SLIDE 3

Recent performances

 The island in 2015 saw over 1 million visitors  Tourist arrivals recorded the highest level ever in 2015 with

592,000 tourists

 Arrivals for 2015 increased by 13% compared to the previous

year

 2016 is set to also be a record breaking year and for the first

time the island will eclipse the 600,000 mark

 Arrivals to June have shown an increase of 5 % compared

when compared to 2015

 Cruise passenger arrivals increased by 5% in 2015 to total

586,000 cruise visitors

SLIDE 4

Distribution of Tourists 2015

 Barbados has been

working on diversifying its market base

 Initiatives have been

made in the USA with a significant increase in airlift which has resulted in an increased share from this market to 25% from 21% in previous years

 Efforts have also been

made to tap into the South American markets

UNITED STATES 25% CANADA 12% UNITED KINGDOM 37% GERMANY 2% OTHER EUROPE 4% TRINIDAD & TOBAGO 5% OTHER CARIBBEAN 11% BRAZIL 1% OTHER CENTRAL & SOUTH AMERICA 1% OTHER 2%

SLIDE 5

Falling accommodation room stock

 Based on research of the properties

closed over the past 15 years, a total of 2055 rooms have been put out of circulation or have been converted to villa/ condo type accommodation.

 The island’s room stock has been

growing less rapidly compared to its Caribbean counterparts.

 In fact there has been a fall-off in

inventory for 2014. Room inventory on the island stood at 6700 in 1980, while in 2014 that number was just over 5,900.

CLOSED PROPERTIES # ROOMS Almond Beach Village 330 Sam Lord's castle 239 Club Rockley 152 Amaryllis 145 Silver Sands 130 Sandy Bay 129 Glitter Bay 68 The Regent 61 Kings Beach 57 Caribbee 55 Coconut Creek 53 Tropical Escape 52 Allamanda 49 Rainbow Beach 43 St Lawrence Apartments 42 Other Smaller properties 450 Total 2055

SLIDE 6

Hotel plant in need of restructuring

It is generally accepted that the hotel plant in

Barbados is tired and in need of infrastructural investment reflecting the market demands.

– Market asking for medium to large hotels. – All inclusive product offering – Family oriented product development – Development of ultra-luxury boutique hotels – Development of an adequately sized conference facility within

close proximity to accommodations

– Development of remote areas to accommodate tourism

product

The past 15 years prior to 2015 have seen 5 investments

in new or fully renovated hotel projects which account for 800 rooms.

SLIDE 7

Tourism over the next 10 years

 Addition of one to two new build or restored properties each year to the

productive capacity of the tourism industry from 2015 to 2025

 Secure investment to the tune of US$2 billion over the next 10 years  Increase the level of tourist on the island to around 1 million annually

by 2025

 Doubling of the tourism receipts to US$2 billion annually by 2025  Introduction of 4000 new rooms by 2025 of which 1740 rooms will be

within the Carlisle Bay Area

 Employment of an additional 7500 persons directly in accommodation

establishments by 2025 and a further 16,800 persons indirectly.

7

SLIDE 8

Future Tourism Development

 Tourism development will be pursued with the preservation of

the environment and local community at its core

 Maximizing the benefits to the economy of future initiatives  Encourage the utilization of photovoltaic and other systems to

reduce foreign import bill

 Will reflect latest and future trends in tourism development  Standards and quality of the hotel plant on the island must be of

world class standards

 Due to the nature of the tourism industry, where it draws on

many other sectors of the economy, the Integration of the other productive sectors of the economy is paramount and will be actively pursued

SLIDE 9

Three phases to the development

 Phase 1

 Expanding the tourism base across wider Barbados

 Phase 2

 Development of Bridgetown and its Garrison i.e Carlisle

Bay Corridor

 Phase 3

 Development of Harrisons Point

SLIDE 10

A Revitalized Tourism Industry

 Return of the closed inventory to productive capacity

in the tourism sector

 Facilitate investment in new hotel plant improving the

quality of Barbados’ product offering

 Spreading the benefits of tourism and infrastructural

development across wider Barbados

 Encourage the operation of international brands on

the island while promoting investment in local brands and the development of luxury boutique hotels

 Forge deeper linkages between the productive sectors

f the economy and tourism

SLIDE 11

Development 2015 2016 2017 2018 2019 Type of Property Sandals Casuarina 280 All-Inclusive Amaryllis/Sugar Bay Barbados 150 All-Inclusive Sandy Bay/Beach Start Date 153 All-Inclusive Sandals Casuarina Expansion Start Date 220 All-Inclusive Downtown Hyat t Hotel (Bay Street) Start Date 190 European Plan Wyndham Samlord's Castle Start Date 450 European Plan Foulbay St Philip Start Date 309 European Plan Sandals Beaches (Heywoods) Start Date 400 All-Inclusive Other Planned Developments Start Date 150 TOTAL ROOMS

ADDED

Total 280 303 220 640 859

2302

Planned and Targeted Hotel development 2015-2019

Planned Investment Initiatives - 2019

US$1 billion in investment from 2015 - 2019

– Addition of 2300 rooms to the rooms stock of the island – Spread the benefits of tourism across the island – Mix of EP and All Inclusive product – Majority of product will be new rooms – Return of over 800 rooms closed in the last 10 years to productive capacity – Injection of a further US$540 million through visitor spend

SLIDE 12

Economic Impact on the Barbados economy



Direct contributio n to GDP of US$262.7 million



Direct jobs 4528



Total contributio n to GDP of US$876 million



Total employmen t of 14800

SLIDE 13

Short term impacts to 2019

 In keeping with the Barbados Growth and Development

Strategy (BGDS) 2013-2020,

 Based on the direct impact of these investments to GDP of

US$262 million (based on WTTC economic impact model 2014) and consequently the indirect and induced impacts, GDP is expected to grow at over the 4% projection as required in the BGDS in 2020.

 The strategy also calls for the reduction of the unemployment

rate to below 7% by 2020. The over 4600 jobs plus an additional 10,000 jobs due to the indirect and induced impacts have the potential for full employment by 2019.

 An increase in the economic base will also reduce the debt to

GDP ratio of the country

SLIDE 14

Carlisle Bay Proposed Development

 Iconic conference facility  Additional 1400 rooms (5 new hotels)  Marine facility  Entertainment facilities  Bridgetown to be the most vibrant city within

the Caribbean

SLIDE 15

Carlisle Bay Development Proposal:

Projected Accommodation



US$1 billion in investment



Iconic Performing Arts / Convention Center



1400 new rooms



Enhancement of shopping, dining and entertainment experience

SLIDE 16

Carlisle Bay Development Proposal:

Turnover and Facilities

1. Visitor exports

$ 338.00 Domestic expenditure 2. (includes government individual spending) $ 42.71

3. Internal tourism consumption

(= 1 + 2 ) $ 380.71

4. Purchases by tourism providers, including imported goods

(supply chain) $ (216.25)

5. Direct contribution of

Travel & Tourism to GDP (= 3 + 4) $ 164.45 Other final impacts (indirect & induced)

6. Domestic supply chain

$ 200.77

7. Capital investment

$ 50.87

8. Government collective spending

$ 35.60

9. Imported goods from indirect spending

$ (4.08)

10. Induced

$ 100.72

11. Total contribution of

Travel & Tourism to GDP (= 5 + 6 + 7 + 8 + 9 + 10) $ 548.33 Employment impacts ('000)

12. Direct contribution of Travel & Tourism to employment

2,940

13. Total contribution of Travel & Tourism to employment

9,471 Economic Impact Of Carlisle Bay Project Based on WTTC Model 2014 (US$ millions)

SLIDE 17

Bridgetown the capital city

 The developments in the Carlisle Bay area will provide

the daily traffic for Bridgetown to be bustling with activity with over 4000 visitors daily in the direct environs looking for shopping entertainment and dinning

 Traffic will create the demand for additional services to

support tourism activity thereby creating an entrepreneurial class of persons to supply services to visitors

SLIDE 18

PHASE 3: THE NORTH Further Possibilities

International Airport

North

Atlantic Ocean Caribbean sea PHASE 3 Harrison’s Point

SLIDE 19

Harrison Point-St Lucy

83.4 acres located in the northernmost area of the island
Formerly the home of a USA Naval base, decommissioned in

1979

One of the most secluded areas in the country
Home to one of three active lighthouses on the island built in

1925

Area designated for tourism development
Outline town planning approval already given fro tourism

project

BTI is willing to work with investors to make hotel and or
ther development at this site a reality
Tax and other concessions available

SLIDE 20

Northern Barbados

SLIDE 21

The Vision

Consist of two

waterfront real estate development projects

Harrison’s Point

South – Ecopark attraction and Hospitality

Harrison’s Point

North- Luxury Residential and Mixed use accommodation