#BTEditorial – Tourism sector brings great news for the economy

Last week we reported that more than 6 000 English cricket fans were set to descend upon Barbados within the next three months.

Our story stated that between 500 and 1 000 members of the Barmy Army are currently on the island for the five-match Betway T20 International Series between the West Indies and England, with a further 5 000 expected for the three-match Test series which kicks off in March, when Barbados will host the second Test match at Kensington Oval from March 16-20.

We welcome all visitors to our beautiful island, and while world travel presents certain concerns and challenges due to the global COVID-19 pandemic many Caribbean countries, like us, need the foreign exchange.

When 6 000 tourists come to this island, large, medium size and small businesses benefit in a tremendous way. From large to small hotels, taxi operators, rental car companies, restaurants – thousands stand to benefit, which means our economy is making some movement, unlike this time last year when we were on lockdown.

We also hear the concerns of those who posted comments on our social media pages about tourists not adhering to our COVID-19 protocols, especially the wearing of masks. This is unacceptable. And we call on the tourists to do better and on the authorities to be more vigilant even as we walk this tightrope of public health and economy.

While we welcome you, we do not do so at the expense of the lives of our citizens, the majority of whom are complying with the public health codes.

There is a balancing act required of us. All over the world, attempts are being made to “live with COVID” since no one knows when it will end.

On Wednesday, Governor of the Central Bank Cleviston Haynes explained what the influx of tourists means to our economy. And while the numbers are not as impressive as they were pre-COVID-19, we have to start somewhere; therefore, we are optimistic.

The Governor, who was speaking at his first press conference for the year, said the economy grew by 1.4 per cent in 2021 and that it was helped by a tourism-led 11.5 per cent expansion between October and December.

He said: “Long-stay tourists arrivals in December were at their post-COVID peak, reaching 47 per cent of the corresponding pre-pandemic level of 2019, as the relaxation of global travel restrictions, the phased reduction in health protocols and pent-up demand contributed to a rebound in international travel.”

Commenting specifically on the visiting cricket fans and pointing out that the United States and Britain accounted for 74 per cent of the arrivals, he said a further uptick in the economy is expected due to the cricket tour.

The Governor explained: “Clearly, with the stadium only half capacity it’s not as much as it ordinarily would be for an English tour, but I think we are hopeful for the Test match that there will also be another set of English tourists.”

He continued: “So, in essence, we have got two bites of the cherry; another set of English tourists who come to watch that match. I am told that the numbers could be as high as 5 000 for the match in March.

“So, I think that this will have a positive impact on our tourism because, on the one hand, it fills rooms, but when they come they spend. Therefore, our small business sector benefits from their presence and I can’t quantify for you the exact number, but I think having them here contributes towards the earnings of foreign exchange,” the Central Bank Governor said.

This report from the Governor should warm the heart of any right-thinking Barbadian.

What we are looking for, though, is that this much-needed money coming from the number one earner, tourism, will be used to invest in other sectors of the economy. We continue to hear cries and pleas for a diversified economy but we are long past that stage now. We must act.

If there is one lesson the COVID-19 pandemic has taught us is that we and other Caribbean states cannot remain like sitting ducks who become crippled and helpless when the tourism sector takes a blow.

So, when economies start to grow again, as is the case with ours, policymakers need not get complacent and depend solely on the tourism dollars. The tourism dollars have to be invested in other sectors with a view of developing said sectors to the point where they can be self-sustainable and leading money earners.

The days of depending so heavily on tourism, the one main income stream, can be no more if we are to ensure a financially sound future for our children and children’s children.