Geneva, November By:
|
|
- Jodie Potter
- 6 years ago
- Views:
Transcription
1 Meeting on the Trade and Development Implications of Tourism Services for Developing Countries: UNCTAD XII pre-event Geneva, November 2007 EFFECTIVE TOURISM POLICIES AND STRATEGIES FOR TOURISM DEVELOPMENT : THE CASE OF MAURITIUS By: Dr. Ramesh DURBARRY University of Technology Mauritius The views expressed are those of the author and do not necessarily reflect the view of the United Nations.
2 Effective Tourism Polices and Strategies for Tourism Development: The Case of Mauritius Dr Ramesh Durbarry University of Technology, Mauritius
3 Historical Context Mauritius used to be a monocrop economy- heavy reliance on sugar (1960s - 90% of GDP, 97% of exports)- characteristics of a poor country 1970s Promotion of Import Substitution industries- failed Export Processing Zones- use of fiscal and administrative incentives Diversification into the tourism industry 1980s Export Processing Zone- mainly Textile was the impetus of growth and employment Hotel sector expansion 1990s Tourism and Manufacturing gaining economic importance FDI Flows in Tourism From 2000 ICT- Cyber Island Tourism Offshore banking and financial services
4 Sectoral Contribution to GDP Year Agriculture, hunting, forestry and fishing Manufacturing Construction Transport, storage and communications Financial intermediation Tourism : Real GDP per capita US$ 4,800 (from US$ 296 in 1990) Inflation Rate 4.9 Unemployment 9.6
5 Evolution of the Tourism Sector 800, , , , , , , , Tourist arrivals in Mauritius 2 million Tourist arrivals 48, , , , , , , ,276
6 5% labour force Tourism Receipts/ Accommodation/ Employment Tourism Receipts (Rs. Mn) Annual Grow th 25.0% 29.8% 4.1% 5.9% 20.8% 9.6% 24.3% Hotels Rooms 1,009 2,201 4,603 8,657 9,647 10,640 10,497 10,666 Employment ,860 22,613 25,377 25,798
7 Tourism Policies The National Tourism Policy emphasises low impact, high spending, selective, up-market, quality tourism is favoured. Preserve the natural, exquisite and pristine characteristics of seascapes Ban on high-rise construction Limit construction of new hotels Maximum number of rooms per hotel since 1989 is 200, however.. Generally, there is a ban on direct charter flights Attract FDI flows- from an incentive driven approach to a targeted promotion of projects approach Mauritius has an upmarket image and policies have been aimed at highspending tourism Opening up of the air access Developing Mauritius as a duty-free island Promoting the island as a centre for MICE Allowing foreigners to acquire property Liberalisation of FDI Flows Setting up of the Tourism Fund- finance the development and maintenance of tourist sites, develop areas deprived of infrastructural facilities with potential to attract visitors
8 Investment Incentives Development Incentives Act (1974)- tax relief for a period of 10 years, exemptions from custom duty (85%), free repatriation of profits Hotel Management Incentive Act (1982) corporate tax 15% instead of 30%, preferential loan rates, etc July harmonisation of corporate tax- 15%, Annual allowances- 30% for hotel building (reducing balance basis), Business Facilitation Act (2006) - enables investors to start operation within a delay of only 3 working days Mauritius has several agreements of Double Taxation Avoidance Treaties 32 signed to date One stop shop agency- Board of Investment in 2000 to promote, facilitate and improve the investment climate in Mauritius
9 Investment Policies For the sound management and control of the tourism industry issuance of Hotel Development Certificate: Criteria:- a) Number of rooms: A company which is Mauritian-controlled must build a hotel of at least 60 rooms, whereas the minimum number of rooms for a foreign owned company should be 100. No hotel projects should exceed 200 rooms. b) The company must be incorporated with the Registrar of Companies in Mauritius. c) The project should be financed by at least 40% of equity. d) In case of resort hotels, the promoter should have at least 2.5 acres of land. For foreign owned hotels, the area of land must not be less than 10 acres. This parameter would not apply for inland hotels. e) The room employment ratio should be in the region of 1:1. f) The cost of one room should be at least around Rs 700, 000 (1990 estimate). g) For large hotels, the promoters should either show evidence of experience in the management and marketing of hotels or give the management of the hotel to a specialised management company. For first-class restaurants, the duty on imported kitchen equipment is levied at half the normal rate. Tour operators and car rental agencies are granted a 60 % concession on air-conditioned buses and vehicles to encourage tour operators to invest in quality of vehicle fleet
10 Importance of FDI Rs million Year * EPZ Tourism ,572 Banking , ,398 Telcom'ns 7, Other ,079 1, Total 7, ,966 1,796 2,807 7,222 5,943 *Jan to June Total FDI Inflows: 2001 US$31.2m 2004 US$59.8m 2006 US$232.9m Tourism FDI flows out of Total FDI: 19.1%.2005 [US$ 17.9m] 36.1%.2006 [US$ 84.0m] 60.1% * [US$ 115m]
11 Tourism Strategies Attract high spending tourist Tourism Act of 2004, setting up of the Tourism Authority to promote the social, economic and environmental benefits to Mauritius from tourism. to formulate policy and nationally integrated planning for the tourism industry, co-ordination of activities of the various organisations in the tourism industry. Investment- priority to hotel projects of the highest standards Key role of the Mauritius Tourism Promotion Authority Introduction of the concept of Integrated Resort Scheme Creation of Tourist Villages Community inclusion e.g thr SMEs, Table d hôte, etc Around 25% of visitors stay in non-hotel accommodation Develop the MICE market Alternative Tourism: Cultural Heritage Tourism Regional integration e.g SADC, EAC
12 Key Driving Forces Accessibility Visibility Attractiveness
13 Accessibility Air access: From mono-designation to dual/multi designation strategies COMAIR creating additional seat capacity of 4,788 monthly Corsair creating additional seat capacity of 3,280 per month Air Europe, Eurofly and Volare Airlines allowed to land in Mauritius. Virgin Atlantic now operates 2 flights per week Air Mauritius: From daily to 12 flights to UK An Indian Airline will be landing in Mauritius in the near future Bilateral Agreement with Spain and Mauritius From 3 to 7 flights (Sydney, Melbourne, Perth and Brisbane) as from 25 th Oct 07. Travel Services KFT from Hungary TUI Fly Nordic from Sweden (Ex Britannia) Tourists from Russia is expanding Facilitation for private jets to land in Mauritius. Source: MTPA
14 Visibility Ensured by Mauritius Promotion Tourism Authority (MTPA) MTPA established in 1996 to: promote Mauritius abroad as a tourist destination by conducting advertising campaigns, participating in tourism fairs and organising, in collaboration with the local tourism industry, promotional campaign and activities in Mauritius and abroad. provide information to tourists on facilities, infrastructures and services available to them in Mauritius conduct research into market trends and market opportunities FAM and Press trips Events Creation Proximity Marketing and Bonding with the Distribution Channels Website: MTPA has had a budget of US$ 10 million per year in 2006 and 2007
15 Participation in Annual Fairs Month Venue Fair January Spain/Madrid International Tourist Trade Fair (FUTUR) February Czech/Prague Holiday World Fair February Italy/Milan Vorsa International de Tourisomo (VIT) February South Africa/Durban INDABA March Germany/Berlin International Tourist Boost (ITB) March France/Paris Salon Mondial du Tourisme September France/Dovisa TOPRESA Tourism Fair October Swiss/Montrax Travel Trade Workshop (TTW) November UK/London World Travel Market Source: Ministry of Tourism, Leisure and External Communications.
16 Attractiveness Enhancing the base product of 3 Ss with new add-ons Renovation and restoration of tourist sites and attractions (Heritage, historical and cultural sites) Embracing niche products such as golf, spa and wellness, duty free shopping, establishment of marine parks, etc) Events Creation (Golf Events, Festival International Creole, Sports Events, Celebritydriven Events) Source: MTPA
17 Linkages to the Local Economy Study by UNCTAD (2007): The Development Dimension of Tourism FDI in East and Southern Africa by R. Durbarry (Mauritius), J. Kweka (Tanzania), F.Nsonzi (Uganda), M. Ikiara (Kenya), H. Fidzani (Botswana), S. Gelb (South Africa) & D. Barrowclough (UNCTAD). Project funded by IDRC and UNCTAD. Cases show that: Opportunities for SMEs Tourism firms buy a lot of their supplies locally although leakages still remain Tanzania, Botswana- more than 90% purchase from local supplierssimilar for Mauritius Foreign firms have high preference for imports Kenya- 84% of food, beverages and cleaning chemicals- from local suppliers There is a need to improve quality
18 Linkages..Cont d Botswana purchase all the food products from wholesales within the country 80% of hoteliers purchase fish from SMEs and street vendors Most inputs by hotels, lodges and camps signals existence of linkages (especially backward linkages) between these tourism establishments and their supplying industries (wholesalers, SMEs, retailers, farms etc.). Contributes towards alleviation of poverty - mainly thr employment and hence providing a source of livelihood for the local people. Kenya Employment- Not so much except for manual jobs. Preferential treatment in the supply of agricultural commodities Donations to organisations e.g. schools, Red Cross Uganda Weak linkages
19 Linkages..Cont d Mauritius Tend to recruit people in local community- direct and indirect Supply of food and vegetables Good opportunities for taxis, catamaran, handicraft, etc Equipment maintenance, vehicle and fridge maintenance are mostly contracted out to local firms Foster cultural tourism Better environment, entertainment facilities Opportunities for SMEs Tanzania Tourism backward linkages- Business opportunities for SMEs Hotels source over 90% by of their food supply requirements locally Most of the construction materials are imported despite local supplies being abundant- reasons: quantity and quality Efforts by tourism businesses to link with SMEs are hampered by lack of information direct financial support to improve local social and economic services direct linkage with poverty reduction thr employment, but FDI mostly in cities
20 Promoting SME Development Case of Mauritius Business Facilitation Act Start operation in 3 days (getting rid of trade licences, etc) Harmonise the cost of doing business across all sectors and business activities. Empowerment Programme Empowerment Fund- Equity participation by Govt ($10,000 to $100,000) Soft loans from Development Bank of Mauritius for SMEs Support services, advice and training support from SEHDA Women participation Enterprise Mauritius Awareness Campaign Consultations- ministries, local institutions, govt agencies, private sector
21 Why Mauritius has fared well? There is now no shortage of investors willing to invest in tourism! Open and low tax regime Same level-playing field for all Mauritius has a long tradition of private entrepreneurship Open business platform Investment protection Infrastructure facilities and well developed ICT sector Efficient support facilities Control on Red tape and bureaucracy Investment climate improvement Targeted investment projects Political stability A tradition of hospitality Natural resources Human resources, etc The govt policy is to act as a facilitator to business, leaving production to private sector
Investor Country Report Mauritius
Investor Country Report Mauritius Mauritius October 2015 Contents: 1. Country Overview 2. The Mauritian Economy 3. The Mauritian Business Environment 4. The Mauritian Fiscal Regime 5. The Financial Services
More informationPolicy for Industrial Development: A Case Study of the Clothing Industry in Mauritius
Development Policy Research Unit University of Cape Town Policy for Industrial Development: A Case Study of the Clothing Industry in Mauritius DPRU Policy Brief No. 02/P21 March 2002 Industrial Strategy
More informationCompetitivenese Strategies for Small States Case of Mauritius. Presentation by Mrs P. Rampadarath
Competitivenese Strategies for Small States Case of Mauritius Presentation by Mrs P. Rampadarath Where is Mauritius located? Government Population GDP Economic Growth (2012) FACTS ABOUT MAURITIUS Parliamentary
More informationPre-budget economic analysis Key facts and figures
Pre-budget economic analysis Key facts and figures June 2008 Advisory Table of Contents Page 1 Macro-economic overview 1 2 External sector 10 3 Government finance 16 Appendix 1 - Glossary 21 Section 1
More informationBAHAMAS. 1. General trends
Economic Survey of Latin America and the Caribbean 2018 1 BAHAMAS 1. General trends Economic growth strengthened to 1.4% in 2017, compared with -1.7% in 2016. Activity was bolstered by growth in construction,
More informationSada Reddy: Economic contribution of tourism the way forward
Sada Reddy: Economic contribution of tourism the way forward Speech by Mr Sada Reddy, Governor of the Reserve Bank of Fiji, at the Fiji Tourism Forum 2010, Suva, 20 August 2010. * * * The Attorney-General
More informationMauritius Country Snapshot
OCTOBER 2010 Mauritius Country Snapshot THEMIS TRAKAS, Associate Director HVS ATHENS OFFICE 10 Panepistimiou Street, 3 rd Floor GR 10671 Athens Greece Tel: +30 210 361 2085 Fax: +30 210 361 6689 HVS Athens
More informationGross Domestic Product , preliminary figures for Aruba
Gross Domestic Product 2000 2006, preliminary figures for Aruba Central Bureau of Statistics Aruba Oranjestad, December 2007 COPYRIGHT RESERVED Use of the contents of this publication is allowed, provided
More informationAzerbaijan Export and Investment Promotion Foundation. Azerbaijan Country Presentation
Azerbaijan Country Presentation Basics Establishment: 28 May 1918 Independence: 18 October 1991 Area: Population: Official Language: Government system: Membership in: 86.6 thsd km2 9.48 million Azerbaijani
More informationTourism s Economics Impact on Somerset County. May 2018
Tourism s Economics Impact on Somerset County May 2018 Table of contents Tourism Economics 2 1) Tourism Impact Summary and Trends Economic impact summary Tourism's impact on Somerset County Nominal dollars,
More informationAssessment of services sector in the East African Community (EAC) Partner State Countries
International Journal of Education and Research Vol. 2 No. 5 May 2014 Assessment of services sector in the East African Community (EAC) Partner State Countries Lucia Mary Mbithi * and Caiphas Chekwoti
More informationTourism s Economics Impact on the Meadowlands Liberty Region. May 2018
Tourism s Economics Impact on the Meadowlands Liberty Region May 2018 Table of contents Tourism Economics 2 1) Tourism Impact Summary and Trends Economic impact summary Tourism s Impact on the Meadowlands
More informationinvestinlebanon.gov.lb INVESTMENT OPPORTUNITIES IN LEBANON
investinlebanon.gov.lb INVESTMENT OPPORTUNITIES IN LEBANON HEADLINES I. INVESTMENT CLIMATE IN LEBANON 2. WHY LEBANON 3. ABOUT IDAL 4. WHAT ARE THE INVESTMENT OPPORTUNITIES? 5. CONTACT US ECONOMIC PROFILE
More informationNational Accounts Estimates ( ) March 2018 issue
National Accounts Estimates (2015 2018) March 2018 issue 1. INTRODUCTION This issue of Economic and Social Indicators presents National Accounts estimates for the period 2015 to 2018. Concepts and definitions
More informationNational Accounts Estimates ( ) September 2018 issue
National Accounts Estimates (2015 2018) September 2018 issue 1. INTRODUCTION This issue of Economic and Social Indicators presents National Accounts estimates for the period 2015 to 2018. Concepts and
More informationGROSS DOMESTIC PRODUCT
GROSS DOMESTIC PRODUCT September 2014 2013 HIGHLIGHTS GDP = $5.6 billion, marginally up 0.7% in 2013 In 2013, Gross Domestic Product (GDP), which measures the total value of goods and services produced
More informationOUTCOME OF THE HIGH-LEVEL MEETING ON TOURISM AND DEVELOPMENT IN THE LEAST DEVELOPED COUNTRIES. Gran Canaria, Spain, March 2001 CONTENTS
UNITED NATIONS A General Assembly Distr. GENERAL A/CONF.191/BP/4 5 April 2001 Original: ENGLISH Third United Nations Conference on the Least Developed Countries Brussels, Belgium 14 May 2001 OUTCOME OF
More informationStudy on the Contribution of Sport to Economic Growth and Employment in the EU
Study on the Contribution of Sport to Economic Growth and Employment in the EU Study commissioned by the European Commission, Directorate-General Education and Culture Executive Summary August 2012 SportsEconAustria
More informationFOREIGN PRIVATE CAPITAL SURVEY REPORT 2013
FOREIGN PRIVATE CAPITAL SURVEY REPORT 2013 P.O. Box CY342, Causeway, Harare Tel: (263-04) 706681/8 or (263-04) 703971/7 Fax: (263-04) 762494 E-mail: trade@zimstat.co.zw Website: www.zimstat.co.zw Published:
More informationEnvironmental Incentives
Environmental 2018-2019 Tax and Customs Bio Fuel Production Tax holiday is available to a taxpayer undertaking a new activity in processing agricultural commodities into bio-fuels as approved by the Commissioner
More informationFDI Promotion in Mauritius and Sri Lanka. Ganesh Wignaraja Commonwealth Secretariat
FDI Promotion in Mauritius and Sri Lanka Ganesh Wignaraja Commonwealth Secretariat Years Annual FDI Inflows in Mauritius & Sri Lanka, 1970-99, $Mn 250.0 208.2 200.0 ($ Mn) 150.0 100.0 1970: Mauritius Began
More informationScottsdale Tourism Study - Visitor Statistics
Scottsdale Tourism Study - Visitor Statistics September 2018 Tourism and Events Department Scottsdale Visitor Statistics September 2018 Scottsdale City Council W.J. Jim Lane Mayor Linda Milhaven Kathy
More informationSince the 1990s Morocco has been pursuing reforms that call for liberalising
OECD Investment Policy Reviews: Morocco 2010 OECD 2010 Executive Summary Since the 1990s Morocco has been pursuing reforms that call for liberalising the economy through the progressive withdrawal of the
More information2015 A Record Year for Indiana Tourism. Methodology, Metrics and Evaluation
2015 A Record Year for Indiana Tourism Methodology, Metrics and Evaluation Table of Contents 2015 Indiana Tourism Highlights Background & Methodology 2014 2015 Indiana Tourism Performance 2015 Tourism
More informationOECD Investment Policy Review of Myanmar
OECD Investment Policy Review of Myanmar OECD Investment Committee 15 October 2013 Aung Naing Oo Director General, DICA Ministry of National Planning and Economic Development Outline 1 A backward glance
More informationAn Unparalleled Economic Opportunity
An Unparalleled Economic Opportunity Tourism is the world s 4th fastest growing industry 1 billion international travellers $1 trillion in revenues 4% growth globally per year Tourism s footprint in Canada
More informationOXFORD INTERNATIONAL MAURITIUS. An Introduction. Nikhil Treebhoohun. Hennessy Park Hotel, Jan 16,2015. Website:
OIM DIALOGUE OXFORD INTERNATIONAL MAURITIUS Mauritius at another inflection point An Introduction by Nikhil Treebhoohun Hennessy Park Hotel, Jan 16,2015 Website: www.oxfordmu.com What is OIM? Set up in
More informationEconomic Impact Analysis of Fort Steele National Heritage Town. Final Report. By:
Economic Impact Analysis of Fort Steele National Heritage Town Final Report By: The Canadian Tourism Research Institute The Conference Board of Canada April 30, 2008 WHAT'S INSIDE This study reports on
More informationAyaz Ahmed and Henna Ahsan
Ayaz Ahmed and Henna Ahsan Services sector is the largest and fastest growing sector in the world economy, accounting largest share in total output and employment in most developed countries. The share
More informationDOMINICAN REPUBLIC. 1. General trends
Economic Survey of Latin America and the Caribbean 2016 1 DOMINICAN REPUBLIC 1. General trends The economy of the Dominican Republic grew by 7.0% in 2015, compared with 7.3% in 2014. That growth is driven
More informationPRESENTATION ON THE INVESTMENT OPPORTUNITIES IN BOTSWANA. Ms Reitumetse Aphiri Executive Director Investment Promotions 27 th February 2013
PRESENTATION ON THE INVESTMENT OPPORTUNITIES IN BOTSWANA Ms Reitumetse Aphiri Executive Director Investment Promotions 27 th February 2013 Contents 1. Botswana Overview Key Figures Macroeconomic Fundamentals
More informationFISCAL STRATEGY PAPER
REPUBLIC OF KENYA MACHAKOS COUNTY GOVERNMENT THE COUNTY TREASURY MEDIUM TERM FISCAL STRATEGY PAPER ACHIEVING EQUITABLE SOCIAL AND ECONOMIC DEVELOPMENT IN MACHAKOS COUNTY FEBRUARY2014 Foreword This Fiscal
More informationPOLISH BUSINESS VISIT TO GHANA
POLISH BUSINESS VISIT TO GHANA CONTENT Mandate of GIPC Collaborating Institutions The Ghana Advantage The Investment Environment Key Drivers of the Economy Business Reforms Major Investment Opportunities
More informationGuatemala. 1. General trends. 2. Economic policy. In 2009, the Guatemalan economy faced serious challenges as attempts were made to mitigate
Economic Survey of Latin America and the Caribbean 2009-2010 161 Guatemala 1. General trends In 2009, the Guatemalan economy faced serious challenges as attempts were made to mitigate the impact of the
More informationETHIOPIA. Agribusiness. Procedures and Opportunities
ETHIOPIA Agribusiness Procedures and Opportunities Ethiopia: Country Profile Ethiopia Brief Country Profile Ethiopia: Country Profile Rapid and sustainable economic growth One of the fastest growing economies
More information2017 Federal Budget Analysis How it Impacts You
THE VOICE OF THE CANADIAN LODGING INDUSTRY 2017 Federal Budget Analysis How it Impacts You Today at 4pm, the Finance Minister Bill Morneau tabled the Federal Budget. HAC President, Susie Grynol, was among
More informationScottsdale Tourism Study - Visitor Statistics
Scottsdale Tourism Study - Visitor Statistics January 2018 Tourism and Events Department Scottsdale Visitor Statistics January 2018 Scottsdale City Council W.J. Jim Lane Mayor Linda Milhaven Kathy Littlefield
More informationAzerbaijan Country Presentation
Azerbaijan Country Presentation Rufat Mammadov AZPRPOMO Favourable Location Azerbaijan is the country on the crossroads of Eurasia I Establishment: 28 May 1918 I Independence: 18 October 1991 I Official
More informationPLAN OF MEASURES TO DRIVE GROWTH, COMPETITIVENESS AND EFFICIENCY
PLAN OF MEASURES TO DRIVE GROWTH, COMPETITIVENESS AND EFFICIENCY 6 June, 2014 The National Reform Programme 2014 reflects the intense reforming activity of the last two years, which has led to the Spanish
More informationWritten Submission for the Pre-Budget Consultations in Advance of the 2019 Budget
Written Submission for the Pre-Budget Consultations in Advance of the 2019 Budget August 2018 Recommendations Recommendation 1: That the government require corporations that operate in Canada through a
More informationANNUAL ECONOMIC REPORT AJMAN 2015
ANNUAL ECONOMIC REPORT AJMAN C O N T E N T S Introduction Growth of the Global Economy Economic Growth in the United Arab Emirates Macro - Economic Growth in the Emirate of Ajman Gross Domestic Product
More informationWe would appreciate your kind consideration of such support at least through FY
WTTC India Initiative Travel & Tourism Issues presented at the National Tourism Advisory Council Meeting on 15 th December 2008. Introduction: As a result of the financial crisis and global meltdown there
More informationWhat are the major trends and determinants of foreign direct investment in SADC countries? I ndustrial
DPRU Industrial Strategy Project Development Policy Research Unit University of Cape Town What are the major trends and determinants of foreign direct investment in SADC countries? DPRU Policy Brief No.
More informationMitigating the impact of graduation from the least developed countries category
Mitigating the impact of graduation from the least developed countries category Daniel Gay, Inter-Regional Adviser CDP Secretariat UNDESA Namsuk Kim, Economic Affairs Officer CDP Secretariat UNDESA New
More informationMauritius Economy Update October 2013
October 28, 2013 Economics Mauritius Economy Update October 2013 Mauritius, a tropical island situated towards the south east coast of Africa comprises 9 districts Flacq, Grand port, Moka, Pamplemousses,
More informationHOSPITALITY INDUSTRY 9 th February 2012
HOSPITALITY INDUSTRY 9 th February 2012 Taxation Julius Mwatu CFO Indigo Telecom Council Member - ICPAK Tax some sort of food? Tax The Tax Structure Tax Direct Taxes Indirect Taxes Income Taxes VAT Personal
More informationMalta Budget Highlights
Malta Budget Highlights - 2017 On 17 October 2016, the Minister of Finance, Prof Edward Scicluna, presented the Budget for 2017. Highlighting the fact that Government is projecting that the deficit for
More informationMauritius A Nurturing Environment
Air Connections Mauritius A Nurturing Environment Mauritius Key Facts Population: 1,280,925 GDP per capita: US$ 7,000 (market price) GDP per capita: (PPP) : US$ $13,500 (2010 est.) FDI:US$ 330m p.a.
More informationAssessing the economic impacts of nature-based tourism
Assessing the economic impacts of nature-based tourism Donal McCarthy & Paul Morling Natura People Workshop April 2014 Workshop Overview Today, we are going to consider simple ways to assess the economic
More informationHONDURAS. 1. General trends
Economic Survey of Latin America and the Caribbean 2016 1 HONDURAS 1. General trends Economic growth in Honduras picked up in 2015, reaching 3.6%, compared with 3.1% in 2014. This performance was mainly
More informationSECTION SIX: Labour Demand Forecasting Model
PAGE 115 SECTION SIX: Labour Demand Forecasting Model 6.1. INTRODUCTION The demand for labour up to 2010 according to the SIC sectors have been estimated through the development of a labour demand model.
More informationRole of foreign direct investment in the development of the industry and role of industrial policy in attracting FDI
Role of foreign direct investment in the development of the industry and role of industrial policy in attracting FDI Seminar on Industrial Policy EU Commission Ministry of Economy & Regional Development
More informationGlobal Trends and Kenya Economic Review 2017
Global Trends and Kenya Economic Review 2017 Table of Contents Key Global Trends that affect Kenya Expected Business Environment Key themes of the Budget 2017 Economic Analysis Key Global Trends that Impacts
More informationINDUSTRIALIZE AFRICA. Luxembourg Trade Mission October 2 nd, 20189
INDUSTRIALIZE AFRICA Luxembourg Trade Mission October 2 nd, 20189 Dr. Abdu Mukhtar Director for Industrial and Trade Development African Development Bank Africa is industrializing but still lags behind
More informationAPPENDIX 2 TO ANNEX VIII ICELAND SCHEDULE OF SPECIFIC COMMITMENTS
APPENDIX 2 TO ANNEX VIII ICELAND SCHEDULE OF SPECIFIC COMMITMENTS I. HORIZONTAL COMMITMENTS ALL SECTORS INCLUDED IN THIS SCHEDULE 3) All foreign investment and currency transfers must be reported to the
More informationPress Release December 2016
Press Release December 216 After turning the corner in 215, growth strengthened in 216, thanks to the investments made to reinforce Barbados competitive tourism sector in recent years. It is estimated
More informationMALAYSIA. Developing a high-income economy summary of the Tenth Malaysia Plan. GDP growth rates (percentage changes) GDP per capita
MALAYSIA Medium-term economic outlook (forecast) percentage change) 5.3 9.1-4.4 Medium-term plan 211-15 Theme Basic data (in 21) Charting development towards a high-income nation GDP growth rates (percentage
More informationDISCOVER YOUR WAY TO AZERBAIJAN
DISCOVER YOUR WAY TO AZERBAIJAN VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY STRATEGIC LOCATION FAVOURABLE BUSINESS CLIMATE QUALIFIED WORK FORCE VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY
More informationFORM FC (RBI) (Paragraph 10B.2)
FORM FC (RBI) (Paragraph 10B.2) [To be filed with the Regional Office of RBI in connection with issue of shares under the Automatic Route of RBI availing of the general permission] (i) (ii) Please carefully
More informationSzRC - a Good Practice from Hungary
SzRC - a Good Practice from Hungary Managing Seasonality in Tourism Success Stories Tirana, 20 October 2014 Mr Oliver FODOR Head of Section Tourism and Catering Department Szechenyi Recreation Card (SzRC)
More informationNicaragua. 1. General trends. 2. Economic policy. The economy grew by 4.5% in 2010, after shrinking by 1.5% in 2009, indicating that Nicaragua
Economic Survey of Latin America and the Caribbean 2010-2011 197 Nicaragua 1. General trends The economy grew by 4.5% in 2010, after shrinking by 1.5% in 2009, indicating that Nicaragua has recovered from
More information4399/2016 New Development Law
On 16 June 2016, the Greek parliament passed the new development law proposed by the Ministry of Economy, Development and Tourism. The law, entitled the Regulatory framework for the establishment of state
More informationPromoting investment in the digital economy
APRIL 2017 SPECIAL ISSUE Promoting investment in the digital economy H I G H L I G H T S The development of the digital economy is a key objective for almost all countries. Many countries and economies
More informationRajesh Anandsing Acharuz. Mauritius. 2 June Republic of Mauritius Ministry of Finance and Economic Empowerent
Rajesh Anandsing Acharuz Mauritius 2 June 2009 Republic of Mauritius Ministry of Finance and Economic Empowerent Budget Balance (% of GDP) Percentage e of GDP 35 25 15 5-5 -15 33.2 14 10.4 2.2 2.6-0.2-1.8-4.2-2.7-1.1-3.9-2.1-4.8-3.4-3.7-6.8-5.1-3.6-7
More informationTourism industries - employment
Tourism industries - employment Statistics Explained Tourism industries prove resilient to the economic crisis and provide jobs for women and young people Data extracted in November 2015. Most recent data:
More informationDeveloping Ras Al-Hadd as a Geological and Ecological Destination in Oman
Developing Ras Al-Hadd as a Geological and Ecological Destination in Oman Prof. Maged. M. F. Negm, Dean, Faculty of Tourism and Hotel Management Helwan University, Egypt. Profiling Tourism In Oman Over
More informationREPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE. Quezon City REVENUE REGULATIONS NO
REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City REVENUE REGULATIONS NO. 7-2016 Date: November 15, 2016 SUBJECT: Rules and Regulations Implementing the Tax Incentives
More informationLinking and liaising with Balance of Payments compilation in measuring inbound and outbound tourism
Linking and liaising with Balance of Payments compilation in measuring inbound and outbound tourism The National Bank of Kazakhstan Daniyar Seisebayev Table of contents: Detailed estimation of the travel
More informationBELIZE. 1. General trends
Economic Survey of Latin America and the Caribbean 2015 1 BELIZE 1. General trends The economy recovered in 2014 with growth strengthening to 3.6% up from 1.5% in 2013. Growth was driven by increased dynamism
More informationCOUNTRY REPORT - MAURITIUS
COUNTRY REPORT - MAURITIUS ORGANISATION OF ECONOMIC STATISTICS General overview of the organization of economic statistics 1. The Central Statistics Office (CSO) is the official organisation responsible
More informationTOURISM FINANCING AND STATE AID
TOURISM FINANCING AND STATE AID This is a working document drafted by the services of DG COMP in order to facilitate a discussion in the Working Group of Member States on the existing options for the provision
More informationA NEW APPROACH TO DIVERSIFICATION WE ARE OUR GREATEST RESOURCE. MINISTRY OF PLANNING AND THE ECONOMY Socio Economic Policy Planning Division 22/06/12
WE ARE OUR GREATEST RESOURCE A NEW APPROACH TO DIVERSIFICATION MINISTRY OF PLANNING AND THE ECONOMY Socio Economic Policy Planning Division 22/06/12 CONTENTS: HISTORICAL OVERVIEW CURRENT SITUATIONAL ANALYSIS
More informationEstimated Total Impact of Tourism in Beaufort County, SC, Economic and Fiscal Impact Analysis
Economic and Fiscal Impact Analysis Estimated Total Impact of Tourism in Beaufort County, SC, 2016 Robert T. Carey, Ph.D. Principal PO Box 675 Pendleton, SC 29670 Robert T. Carey, Ph.D, John Salazar, Ph.D.
More informationDesigning Value Chain / M4P Programs in Nigeria
Designing Value Chain / M4P Programs in Nigeria Ismail Radwan World Bank October 13 th Sheraton Towers Abuja Ismail Radwan Overview I. The Cluster Approach II. The Value Chain Approach III. Nigeria The
More informationHow the Post-Cotonou Agreement can support EU investment and private sector development in ACP countries
27 April 2018 How the Post-Cotonou Agreement can support EU investment and private sector development in ACP countries Following the European Commission s recommendation for a Council Decision authorising
More informationMauritius as a base for Regional Headquarters Companies
as a base for Regional Headquarters Companies 1 Scope of the presentation Regional business schemes Regional Headquarters Scheme Regional Development Scheme Business opportunities in the Region Other headquarters
More informationMH CHEONG & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS
Vol. 1 ISSUE 1 October 98 1999 MALAYSIAN BUDGET COMMENTARY The Malaysian Prime Minister and First Finance Minister, Dato Seri Dr Mahathir Bin Mohamad delivered his 1999 budget Statement to Parliament on
More informationSUMMARY (1) ECONOMIC ENVIRONMENT
Page ix SUMMARY 1. During the period under review, India has continued to reap benefits from the process of trade liberalization and structural reform initiated in the early 1990s. This contributed to
More informationActivities Implemented to Date 1. FOREIGN DIRECT INVESTMENT POLICIES AND PROGRAMMES
MONTENEGRO 101 Summary The activities of the Government of in 2000 were aimed at transformation and privatisation of the economy and the establishment of the structural preconditions for a functioning
More informationMANUFACTURING SECTOR PROFILE
MANUFACTURING SECTOR PROFILE MANUFACTURING SECTOR Manufacturing has an immense potential in Fiji. The Fijian government is building a sustainable and globally competitive manufacturing sector through targeted
More informationMauritius Economy Update January 2015
January 19, 2015 Economics Mauritius Economy Update January 2015 Overview - Mauritian economy has been witnessing a persistent moderation in growth since 2010 due to weak economic activity in Euro Zone,
More informationIFA 12th Global Conference on Ageing. Health, Security and Community June 2014 HICC Hyderabad India
IFA 12th Global Conference on Ageing Health, Security and Community 10-13 June 2014 HICC Hyderabad India Poverty Alleviation and Social Integration of the Elderly The Mauritian Context Presented by Anbanaden
More informationMOROCCO, INVESTMENT OPPORTUNITIES AND BUSINESS CLIMATE MOROCCAN INVESTMENT AND EXPORTS DEVELOPMENT AGENCY
MOROCCO, INVESTMENT OPPORTUNITIES AND BUSINESS CLIMATE MOROCCAN INVESTMENT AND EXPORTS DEVELOPMENT AGENCY MOROCCO, BUSINESS CLIMATE MOROCCO OVERVIEW Capital Institutional System Area Rabat Democratic and
More informationPROJECT INFORMATION DOCUMENT (PID) APPRAISAL STAGE Report No.: PIDA Project Name Region Country Sector(s)
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Project Name Region Country Sector(s) PROJECT INFORMATION DOCUMENT (PID) APPRAISAL STAGE
More informationTravel and Expense Reimbursement Policy
Travel and Expense Reimbursement Policy Purpose The Board of Directors of the North American Maritime Ministry Association (NAMMA) recognizes that board members, officers, and employees ( Personnel ) of
More informationFAIRER AND MORE INTELLIGENT TAX POLICIES IN TRAVEL & TOURISM A POLICIES FOR GROWTH WHITE PAPER
FAIRER AND MORE INTELLIGENT TAX POLICIES IN TRAVEL & TOURISM A POLICIES FOR GROWTH WHITE PAPER 1 INTRODUCTION Travel & Tourism is one of the world s largest and fastest growing sectors, generating over
More informationThe Institute of Chartered Accountants of Sri Lanka
The Institute of Chartered Accountants of Sri Lanka TAXATION Certificate in Accounting and Business II (CAB II) Supplement for Study Text 1 TAXATION Certificate in Accounting and Business II (CAB II) The
More informationCSO Position on the FY 2018/19 Ministerial Policy Statement (MPS) for the Ministry of Trade, Industry and Cooperatives (MTIC) April 2018
CSO Position on the FY 2018/19 Ministerial Policy Statement (MPS) for the Ministry of Trade, Industry and Cooperatives (MTIC) Introduction April 2018 Trade, Industry and Cooperatives is one of the key
More informationCHINA AFRICA UK INVESTMENT FORUM. Provisional Programme
CHINA AFRICA UK INVESTMENT FORUM Provisional Programme HANGZHOU, CHINA 25-27 APRIL 2018 BACKGROUND Much of Africa has experienced sustained high economic growth in the past decade. Yet there remains considerable
More informationEconomic accounts office
Economic accounts office 1 Compilation of : National Accounts Regional Accounts Quarterly Accounts Input-output Tables Satellite Account of: Health Accounts Cooperatives and Mutual Societies Accounts ICT
More informationTRAVEL & ENTERTAINMENT
GROUP POLICY Document No: GP016 Revision No: 01 Issue Date: January 2011 Author: Xolani Mbambo Approval: Exco/Board TABLE OF CONTENTS 1. Overview 2. General Provisions 3. Mode of Travel 4. Accommodation
More informationEighth UNCTAD Debt Management Conference
Eighth UNCTAD Debt Management Conference Geneva, 14-16 November 2011 Rising Debt of the Developed World and Implications for Developing Countries by Dr. Ellias Ngalande Executive Director, Macroeconomic
More informationInvesting in Mozambique UK MOZAMBIQUE INVESTMENT FORUM 2010
Investing in Mozambique UK MOZAMBIQUE INVESTMENT FORUM 2010 Structure of Presentation 1. Location 2. Reasons for Good Performance 3. Investment Policies Tax System Guarantees Tax incentives Bilateral Agreement
More informationSri Lanka The hub of South Asia.
Sri Lanka The hub of South Asia SRI LANKA AT A GLANCE Capital (Commercial) Colombo Capital (Administrative) Sri Jayewardenepura Kotte Area 65,525 sq km Population 21,409,381 (July 2017 est.) Official Language
More informationCABINET DECISIONS 27 JULY 2018
Page 1 of 5 CABINET DECISIONS 27 JULY 2018 1. Cabinet has taken note of the Report of the Commission of Inquiry on Drug Trafficking which was chaired by Mr Paul Lam Shang Leen, former Judge of the Supreme
More informationPOLICIES AND PROCEDURES
POLICIES AND PROCEDURES SECTION: Corporate Policy - Administration NUMBER: OP # 1004 ISSUED: February 25, 2013 SUBJECT: Reimbursable Travel, Entertainment, and Other Business Expense APPROVALS: Executive
More informationHuron-Perth Catholic District School Board
POLICY: EXPENSE REIMBURSEMENT Adopted: February 26, 2007 Policy #: 3E:23 Revised: January 23, 2017 Policy Category: Student Related POLICY STATEMENT: The Huron-Perth Catholic District School Board recognizes
More informationDEVELOPMENT INVESTMENT (INVESTMENT CODE) ORDER 2003 ORDER IN EXECUTIVE COUNCIL. At Avarua, Rarotonga, this day of Present:
DEVELOPMENT INVESTMENT (INVESTMENT CODE) ORDER 2003 ORDER IN EXECUTIVE COUNCIL Queen s Representative At Avarua, Rarotonga, this day of 2003. Present: HIS EXCELLENCY THE QUEEN S REPRESENTATIVE IN EXECUTIVE
More informationThe Local Economic Impact of Short Term Rentals in Galveston, Texas
The Local Economic Impact of Short Term Rentals in Galveston, Texas TXP, Inc. 1310 South 1st Street #105 Austin, Texas 78704 www.txp.com Overview Short term rentals (STR) are an increasingly popular lodging
More information3330 A Procedures and Limitations: Employee Travel
3330 A Procedures and Limitations: Employee Travel Original Adoption: 09/20/2011 Effective Date: 5/19/2015 Revision Dates: 5/18/2015 Review Dates: I. PURPOSE The purpose of this regulation is to establish
More information