|
 
The Online News Bureau of the Diaspora
Dis & Dat
Hard Beat News Editorial
June 10, 2005
The Caribbean Tourism Organization (CTO) last week staged its highly successful annual "Caribbean Week" in New York City. Under the guidance of Hugh Riley, CTO Director of Marketing for the Americas, "Caribbean Week" has grown into a significant event that includes regional tourism officials, travel writers, tour agents, and increasingly the Diaspora from the New York City metropolitan area and beyond. Hard Beat Communications was especially pleased to participate in "Caribbean Week" outreach to the Diaspora by being a media sponsor of the Town Hall Meetings. These gatherings with tourism ministers were held on May 30th in Brooklyn, "expatriate capital" of the English-speaking Caribbean, and the Bronx, home to a significant population from the region.
"Caribbean Week" should now grow to incorporate the promotion of tourism investment opportunities. As the leading regional economic engine, tourism provides opportunities for local entrepreneurs and international investors, including Diaspora business owners. CTO members should take full advantage of "Caribbean Week" being held in the world's leading financial center, New York City, to showcase investment prospects. As an integral part of the increased focus on investment during "Caribbean Week", tourism related companies traded on the region's stock exchanges should be showcased. Jamaica's Prime Minister P.J. Patterson took a critical step in this direction last week.
In addition to being honored with the CTO Distinguished Service Award at the Annual Governments of the Caribbean State Ball, Prime Minister Patterson received another significant recognition during his visit to New York. On June 3rd, he became only the second CARICOM leader to ring a ceremonial bell at the New York Stock Exchange (NYSE). Prime Minister Patterson's NYSE visit was organized by The Lugano Group Incorporated, the same firm that arranged last year's historic visit by Grenada's Prime Minister Keith C. Mitchell.
Prime Minister Patterson was joined at the NYSE by Tourism Minister Aloun N'dombet Assamba and a delegation from the Jamaica Stock Exchange. His message to Wall Street investors was that similar to the attractions welcoming visitors to Jamaica, the island also offers excellent portfolio investment opportunities. With a market capitalization of US$1.4 billion, the 36-year-old Jamaica Stock Exchange is the largest in the Caribbean. There are three tourism companies listed on the Jamaica Stock Exchange.
NYSE spokesperson, Christiaan Brakman, told HBN that the Jamaican leader was awarded the honor, because the country is on a path to greater and sustained economic growth and an unprecedented level of investment not witnessed in over 35 years.
"There's a lot of investment in the hotel industry and in mining," he added. "So we hope the visit will strengthen economic ties between investors here and in Jamaica."
By combining his promotion of the inexorably linked Jamaican tourism and investment sectors, Prime Minister Patterson is setting an example to build the Caribbean capital markets as the next crucial step in regional development. Now, his colleagues should join him.
Back
to Press
|
|
