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The Caribbean THE CARIBBEAN THE IMPACT OF TRAVEL &TOURISM ON JOBS AND THE ECONOMY CHAIRMAN: P R S Oberoi Rod Eddington John M Noel Sultan Ahmed Bin Sulayem Vincent A Wolfington Chairman Chief Executive President & CEO Executive Chairman Chairman The Oberoi Group British Airways plc The Noel Group Nakheel Carey International Inc Henry Silverman Rakesh Gangwal Tom Nutley Ian Swain Chairman, CEO & President Chairman, President & CEO Chairman President VICE CHAIRMEN: Cendant Corporation Worldspan Reed Travel Exhibitions Swain Tours Jean-Marc Espalioux Chairman of Management Board & Lalit Suri Laurence S Geller Alan Parker Kathleen Taylor CEO Chairman & Managing Director Chairman & CEO Chief Executive President Accor Bharat Hotels Ltd Strategic Hotel Capital Whitbread PLC Worldwide Business Operations Four Seasons Hotels Jonathan S Linen Jonathan Tisch Naresh Goyal Jean Gabriel Pérès and Resorts Vice Chairman Chairman & CEO Chairman President & CEO American Express Company Loews Hotels Jet Airways Mövenpick Hotels & Resorts José Antonio Tazón President & CEO Maurice H Greenberg Dionísio Pestana Amadeus Global Travel Distribution EXECUTIVE COMMITTEE: GLOBAL MEMBERS: Chairman & CEO Chairman Group Pestana Jeffrey Toffler Akbar Al Baker Giovanni Angelini American International Chairman CEO CEO & Managing Director Group Inc Fernando Pinto Coventry Partners Qatar Airways Shangri-La Hotels & Resorts Stelios Haji-Ioannou CEO TAP Air Portugal Mustafa Türkmen Peter Armstrong Gerard J Arpey Chairman & Founder CEO & Managing Director President & CEO President & CEO easyGroup Wolfgang Prock-Schauer Enternasyonal Tourism Investments Rocky Mountaineer Railtours American Airlines James Hensley Chief Executive Officer Inc Jet Airways David Babai Ted Balestreri President Allied Europe Daniela Wagner Chairman Chairman & CEO David Radcliffe Managing Director, International Gullivers Travel Associates Cannery Row Company James Hogan Chief Executive Octopustravel.com Hogg Robinson plc Sebastián Escarrer Henrik Bartl President & Chief Executive Gulf Air Peter C Yesawich Vice Chairman Managing Director Kurt Ritter Chairman & CEO Sol Meliá Head of Specialized Property Stephen P Holmes President & CEO Yesawich, Pepperdine Financing Rezidor SAS Hospitality Brown & Russell Manuel Fernando Espirito Santo Aareal Bank AG Vice Chairman Cendant Corporation Chairman Peter Rogers Espirito Santo Tourism Jürgen Baumhoff President & CEO HONORARY MEMBERS: Raimund Hosch CEO Diners Club International Lord Marshall of Knightsbridge President & CEO Edouard Ettedgui Qatar National Hotels Company Chairman Messe Berlin GmbH Group Chief Executive Carl Ruderman British Airways plc Mandarin Oriental Hotel Group Gordon Bethune Chairman André Jordan Chairman of the Board & CEO Universal Media Sir Frank Moore AO Chairman Maurice Flanagan CBE Continental Airlines Chairman Lusotur SA Vice Chairman & Marty Salfen Taylor Byrne Tourism Group Group President Raymond Bickson General Manager, Global Travel Nuno Trigoso Jordão The Emirates Group Managing Director & Transportation Industry Frank Olson President & CEO The Taj Group of Hotels IBM Chairman of the Board Sonae Turismo Gestão e Serviços Michael Frenzel The Hertz Corporation Chairman Regis Bulot Bruno Schöpfer Sol Kerzner TUI AG Chairman of the Board Chairman of the Board Gérard Pélisson Chairman & CEO Relais & Chateaux Mövenpick Hotels & Resorts Co-Chairman, Supervisory Board Kerzner International Ltd David House Accor SA David Scowsill Group President Marilyn Carlson Nelson Nigel Knowles American Express Company Chairman & CEO CEO Tommaso Zanzotto Managing Partner Opodo President Carlson Companies DLA Richard R Kelley TZ Associates Ltd Robert Selander Chairman Alun Cathcart J T Kuhlman Outrigger Enterprises Inc Chairman President & CEO CEO MasterCard International CHAIRMAN EMERITUS: Avis Europe Plc One&Only Resorts Geoffrey J W Kent James D Robinson III Chairman & CEO U Gary Charlwood Per Setterberg General Partner Krishna Kumar CEO RRE Ventures Abercrombie & Kent Founder, Chairman & CEO Vice Chairman Global Refund Group Uniglobe Travel (International) Inc The Taj Group of Hotels J W Marriott Jr Julian Sparkes IMMEDIATE PAST Chairman & CEO Jennie Chua Hans Lerch Managing Partner - Travel Services CHAIRMAN: Marriott International Inc Chairman & CEO President & CEO Accenture Sir Ian Prosser Raffles International Hotels Kuoni Travel Holding Ltd Retired Chairman David Michels & Resorts Eric J Speck InterContinental Hotels Group PLC Chief Executive David Lucas Executive Vice President WTTC Chairman (2001-2003) Hilton Group plc David Clifton President & CEO & Chief Marketing Officer Hilton International Managing Director Blue Wave Solutions Sabre Holdings Corporation Europe & Asia FORMER CHAIRMEN: David Mongeau Interval International Manuel Martin Jean-Cyril Spinetta Harvey Golub Vice Chairman Partner Chairman & CEO Retired Chairman & CEO CIBC World Markets Fernando Conte CyberDodo Productions Ltd Air France American Express Co Chairman & CEO WTTC Chairman (1996-2001) Curtis Nelson Iberia,Airlines of Spain Wolfgang Mayrhuber David Stein President & COO CEO Chairman Robert H Burns Carlson Companies Glen Davidson Lufthansa German Airlines The Stein Group Chairman Senior VP,Worldwide Travel Robert H Burns Holdings Limited Michael Ness Insurance & Related Services Paul McManus Barry Sternlicht WTTC Chairman (1994-1996) President American International Group Inc President & CEO Chairman & CEO The Travel Corporation The Leading Hotels of the World Starwood Hotels & Resorts Alain Demissy PRESIDENT: Richard North President of the Executive Alan Mulally Ron Stringfellow Jean-Claude Baumgarten CEO Committee Executive Vice President CEO InterContinental Hotels Group PLC Mondial Assistance Group The Boeing Company Tsogo Sun Group Correct as at 25 May 2004 ©2004 WORLD TRAVEL & TOURISM COUNCIL 1-2 QUEEN VICTORIA TERRACE.SOVEREIGN COURT.LONDON E1W 3HA. UNITED KINGDOM TEL: +44 (0) 870 727 9882 or + 44 (0) 207 481 8007 • FAX: +44 (0) 870 728 9882 or + 44 (0) 207 488 1008 • [email protected] • www.wttc.org THE WORLD TRAVEL & TOURISM COUNCIL (WTTC) IS THE BUSINESS LEADERS’ FORUM FOR TRAVEL & TOURISM, WORKING WITH GOVERNMENTS TO RAISE AWARENESS OF THE IMPORTANCE OF THE WORLD’S LARGEST GENERATOR OF WEALTH AND JOBS. With chief executives of more than 100 of the world’s leading companies in membership, WTTC has a unique mandate and overview on all matters related to success in Travel & Tourism. WTTC is delighted to have collaborated with the Caribbean Hotel As illustrated in the Travel & Tourism Overview and Policy Framework Association to produce this report, which presents the most sections of this report, several important challenges continue to limit comprehensive analysis of the Tourism Satellite Account for the the industry’s full potential for growth in the Caribbean, and these Caribbean ever undertaken. It quantifies the impact of Travel & Tourism must be addressed to ensure the long-term sustainable development of on individual economies as well as on the region overall. Caribbean Travel & Tourism, with maximum benefits for all Undertaken by WTTC, together with our research partners Oxford stakeholders. Most importantly, these challenges include building Economic Forecasting, this report quantifies all aspects of Travel & awareness of the industry’s contribution to the regional, national and Tourism demand, from personal consumption to business purchases, local economies with government officials and the broader general capital investment, government spending and exports. It then translates public so as to help raise the level of support for the industry to that this information into economic concepts of production, such as gross which it deserves. Also critical is the development of a Caribbean domestic product (GDP) and employment, which can be compared with Tourism Strategic Plan that can be supported and implemented by a other industries and the economy as a whole to provide credible statistical strong public-private sector partnership to focus the vision on the information that will assist in policy- and business decision-making. requirements for long-term growth and job creation. Results demonstrate clearly that the Caribbean is the most tourism- In a departure from our normal practice of preparing our own intensive region in the world. Travel & Tourism currently accounts for policy recommendations from scratch, this report builds on the 14.8 per cent of total GDP and is expected to increase its share by almost outstanding 2002 Caribbean Tourism Strategic Plan commissioned by two percentage points to 16.5 per cent by 2014. Similarly, Travel & the Commonwealth Fund for Technical Co-operation Programme. We Tourism in the Caribbean today generates 15.5 per cent of total believe that this document, with modest adjustments and updating, employment, and this is forecast to rise to 17.1 per cent by 2014. The would serve as a strong foundation for a collective regional vision of industry’s vital role as a generator of wealth and employment across all Travel & Tourism in the Caribbean. parts of the region is indisputable. It also acts as a catalyst for growth in WTTC stands ready to support the immediate adoption and other areas such as agriculture, construction and manufacturing, which implementation of this Plan, including the adjustments and updates would decline if demand for Travel & Tourism were reduced. recommended in this report, as well as to assist in establishing the This significant contribution should not be underestimated, but Caribbean Tourism
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