BARBADOS: BHTA launches tourism fund

BHTA launches tourism fund - Monday 27, October-2003

WITH ESTIMATED MINIMUM ANNUAL contributions of $1.7 million, the tourism fund 
is an initiative of the Barbados Hotel and Tourism Organisation which will 
hel the marketing and product development within the sector. 

The private sector project was operational since July this year, but its 
progress was made known last Wednesday at a press conference held at the 
Barbados Hotel and Tourism Association headquarters. 

Assistant executive vice president Michelle Smith, said a survey which they 
had conducted showed that in 2001, the tourism sector contributed $28 million 
to the overall marketing of Barbados as a destination. 

“This figure is a cumulative amount spent directly by hotels and other 
tourism business on marketing internationally and did not include the cost of 
in kind contributions to the national effort in terms of complimentary 
accommodations and reduced rates for packages,” said Smith. 

President of the Barbados Tourism Authority, Oliver Jordan, said the fund was 
timely and expressed his pleasure at being able to serve on the board of 
trustees. 

Other board members are Wayne Capaldi, Sally Miller, John Paul Kowlessar of 
Ernst&Young, Dr Trevor Carimichael, James Elliot and Sue Springer. Capaldi 
said the fund would run a four-month gestation period and the initial 
disbursement would be on November 1, 2003. 

Contributors to the fund can chose two options, either to have guests 
contribute to the fund or to make the donations themselves. 

“It is anticipated that they will further be able to take advantage of income 
tax concessions granted under Section 22 of the Tourism Development Act, and 
will be able to deduct 150 per cent of contribution expenses earmarked for 
tourism marketing in calculating their assessable income,” he said. 


SOURCE: Barbados Nation