ALIDE ASOCIACION DE INSTITUCIONES FINANCIERAS PARA EL DESARROLLO OF LATINO AMERICANA AND THE CARIBBEAN
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1 ALIDE ASOCIACION DE INSTITUCIONES FINANCIERAS PARA EL DESARROLLO OF LATINO AMERICANA AND THE CARIBBEAN AN INTEGRATED APPROACH TO BUILDING A SUSTAINABLE FUTURE FOR GENERATIONS TO COME!
2 THE FUNDAMENTALS Financing Development Marketing
3 To form one of the pillars of self-sustaining economic activity To generate productive employment, earn foreign exchange and play an integral role in the socioeconomic development of national economies To create viable opportunities for investment projects in new and appealing touristic destinations with high tourism potential
4 To generate revenue to pay for infrastructure investments in airports, sanitation and transportation, as well as related investments in touristic MSMEs and purchase or modernization of enterprises, marketing etc To create linkages between the various economic sectors Deepen social and cultural integration of the LAC Region
5 Modern tourism has become a key driver for socio-economic progress through the creation of jobs and enterprises, infrastructure development and the export revenues earned Need to reverse urban migration by developing rural areas with the resultant creation of jobs Need to reverse and equalize economic exclusion
6 There is the need for a stable economic & financial climate with growth potential to engender and attract investments and credit Most stable countries exhibit the following:- - efficient state institutions; sound economic performance and policies; rare instances of political violence; low levels of social, ethnic and religious tensions; infrequent disasters
7 Factors affecting inward and outward tourism in 1999 that undercut regional economic & export prospects as well as job creation capacity:- - slow world economic & financial recovery - government spending cutbacks - increased energy costs - exchange and interest rate uncertainty - commodity price volatility - raising international protectionist pressures
8 Key Tourism Highlights UNWTO 2010 Report Periods of Faster Growth Periods of Slower Growth to & to to
9 Key Tourism Highlights UNWTO Report Tourism Receipts - USD per arrival Americas B B 1, North America B B 1, Caribbean 23.6 B 22.2 B 1, Central America 6.4 B 5.9 B South America 19.2 B 18.2 B
10 Key Tourism Highlights UNWTO Report Arrivals Americas 92,804 M 128,120 M 147,830 M 140,679 M Argentine 1.93 M 2.91 M 4.70 M 4.33 M Brazil 1.09 M 5.31 M 5.05 M 4.81 M Colombia 813 K 557 K 2.17 M - Costa Rica 435 K 1.09 M 2.09 M 1.92 M Cuba 327 K 1.74 M 2.32 M 2.41 M El Salvador 194 K 795 K 1.39 M 1.09 M Mexico 17,172 M 20, 641 M 22,637 M 21,454 M Venezuela 525 K 469 K 744 K - Jamaica 989 K 1.32 M 1.77 M 1.83 M
11 OPENING COMMENTS BY MEETING CHAIRMAN DONALD CHARLES
12 o That international arrivals are expected to reach nearly 1.6 billion by 2020 of which 1.2 billion will be intra-regional and 0.4 billion long haul o That 2 billion new members will join the global middle class by Of this total, 450 million will come from India alone. (more than all of the population of Europe added together)
13 o o That the BRIC countries will be in the top five largest economies by 2050 That Asia & the Pacific will have the largest concentration of wealthy people by 2013 Due to congestion and pollution in the emerging countries of Asia & Pacific, there will be an increased desire for travel abroad
14 FINANCING
15 Development Banks Development Institutions Commercial Financial Institutions
16 Development Banks make meaningful contributions to:- - Financing of tourism development plans for the public and private sectors - Financing of infrastructure projects useful for tourism and acquisition of fixed assets etc - Issuing guarantees for tourism projects
17 - contribute significantly to the creation, growth and strengthening of productive chains - promote business and territorial development - stimulate the development of touristic MSMEs, generate new initiatives as well as to reform and modernize the tourism sector - create funds or trusts for tourism development projects in new and existing touristic space
18 - Also, Development Banks coordinate the structured linkage of the tourism sector with other sectors to include:- infrastructure; agriculture; micro, small & medium enterprises, carbon reduction and greening initiatives.
19 BANCO CIUDAD de BUENOS AIRES Provides an array of financial products to encourage tourism development to various agencies, micro-enterprises and SMEs:- - To hotel & Lodging Sector: funds for purchase of property & equipment etc or for renovation or refurbishment - To travel agencies: funds for equipment or overseas promotional activities - To MSMEs: working capital and redeemable loans - For Capital Assets Acquisition
20 BANCO de la NACION ARGENTIAN (BNA) Provides the following financial products:- Finance for the construction of hotels throughout the country Lines of credit for equipment, expansion and working capital for hotels Financing of productive activities in tourism to MSMEs for: - general construction, expansion, renovation of facilities, purchase of new or used equipment or goods, working capital
21 BANCO NACIONAL de DESENVOLVIMENTO ECONOMICO e SOCIAL (BNDES) Working closely with EMBRATUR, it provides funding that targets touristic municipalities with the following products:- To medium & large enterprises: for fixed investment and associated working capital To micro and small enterprises: for fixed investment & working capital To medium & large enterprises: the FINEM funding line
22 BANCO de NORDESTE (BNB) Acts as the financial agent for the BNDES - FINEM program. Also, manages the Constitutional Financing Fund of the North East. Offers the PROATUR program, which is a line of dedicated funding for tourism aimed at the private sector in touristic designated towns that have been certified by EMBRATUR and for the following purposes:- implementation, expansion, modernization and reform of enterprises in the tourism industry. finance new investments in fixed assets & for working capital
23 BANCO da AMAZONIA Supports the building of sustainable tourism business within the region to boost the economy. Also, facilitates the integration of the policies of federal & state governments for the Amazon as it relates to the Tourism Incentive program that encourage social sectors to explore the potential of the tourist routes of the Amazon. Provides loans for Amazon Tourism development to individual borrowers of up to 36 months Provides business loans for working capital and rotating lines of credit to enterprises & travel agencies up 360 days
24 BANCO de COMERCIO EXTERIOR de COLOMBIA (BANCOLDEX) Provides the traditional forms of credit to any size of enterprise of unlimited amounts. Also has special quota loans to finance investment projects to execute improvement plans Provides special support for MSMEs for business modernization with a reduction in the rediscount rate Its a Progresar program supports increased productivity and competitiveness with a reduction in the rediscount rate
25 BANCO NATIONAL de COSTA RICA Has a division specializing in tourism and there is a direct relationship with tourism enterprises; regional & community development agencies; associations, chambers of commerce and tourism institutions; and MSMEs. It has been established that there is the priority need to create & improve infrastructure Tourism Banking: provides funding for recreation& leisure, lodging, food and equipment Tourism Micro-enterprises: provides funding for similar purposes as stated about plus for investments, working capital and payment of liabilities financing
26 FINTUR Bank for Financing Tourism Administers income in the tourism sector Manages development funds in the sector & gives loans to finance investments Has access to external sources of funding Its is empowered to participate in joint ventures, companies and other forms of economic partnership Provides consulting services on economic & financial matters as well as management advisory services
27 CORPORACION para el DESARROLLO de CURACAO (KORPODEKO) Contributes to economic & social development by providing financing to promising projects that have higher risks than normal commercial projects FASTON Facilidad para Creacion de Emprendimientos Program directly related to the tourism industry that provides donations to enhance assets of a business so that it can access funding
28 BANCO MULTISECTORIAL de INVERSIONES (BMI), Supports the tourism sector as part of a national policy of the Government by making available to tourism enterprises several programs based on financial assistance and technical training, including:- the Investment Credit Line that provides funds for working capital needs and purchase of fixed assets for projects PROGAPE, which provides support to MSME s by way of guarantees to secure production credit
29 DEVELOPMENT BANKS have developed two programs to support the tourism sector:- Programa de Financiamiento competitivo para las MIPYMES turisticas, designed with Ministry of Tourism and NAFIN:- Provides financial resources to MSMEs for working capital, equipment etc plus access to training & technical assistance; also for the professionalization and modernization of small hotels, travel agencies, restaurants and touristic services Provides factoring lines to suppliers for receivable financing Financing for small hotels and tourism projects:- expansion, remodeling, construction, purchase of hotels, equipment etc
30 Programa de Financiamiento al Sector Tourism promotes increased funding to the sector in partnership with commercial banks: Supports activities of ectotourism, adventure tourism, extreme sports, accommodation facilities, camps, mobile homes, etc Covers capital needs for operating expenses, remodeling, modernization, expansion and construction of new buildings Financier de Financiamento promotes the development & strengthening of tourism in rural areas
31 MINTUR-BANFOANDES-SOGAMPI-BANDES CONVENTION BANFOANDES provides financing of up to US930K SOGAMPI gives bond or guarantees that provide access to financing for construction, remodeling, improvements, equipping and furnishing of hotels, lodges & camps; also, for land and sea transportation to support tourism development
32 MINTUR-BANFOANDES-SOGAMPI-BANDES CONVENTION BANCO de DESARROLLO ECONOMICO y SOCIAL de VENEZUELA (BANDES) provides direct credit for projects supported or endorsed by MINTUR within the designated areas for tourism development :- such as inns, hotels, tourist camps, farms, ranches, other tourism services: care, recreation & entertainment; infrastructure; transportation; information; gastronomic enterprises Development of artisans centers along tourist routes
33 DEVELOPMENT FINANCE INSTITUTIONS There are many international development finance institutions that provide funding for a variety of purposes within the LAC Region. In recent years, there has been an attempt by these institutions to take a harmonized approach to the mobilization and channeling of funds through the most effect distribution system, which is in most cases the development banks especially for projects that involve MSMEs and poverty reduction
34 DEVELOPMENT FINANCE INSTITUTIONS The following are the names of Institutions that can provide tourism development needs:- some of the more significant funding to support our WORLD BANK IDB EIB CDC UK OFID OPEC Fund kfw Bankengruffe - Germany JBIC Japan FMO Netherlands NORFUND Norway COFIDES Spain AFD France LAIF - EU
35 DEVELOPMENT FINANCE INSTITUTIONS Areas of focus:- Foster growth in sustainable SMEs and capital to invest in these businesses Micro-financing Job creation Economic recovery and growth Increased investments in vital infrastructure and social services Rural development Raising of living standards Poverty reduction Environmental protection Renewable energy use and carbon reduction Improving interconnectivity within the LAC Region
36 IDB S SUPPORT FOR TOURISM DEVELOPMENT The Inter-American Development Bank has a specific Tourism Development program that offers loans and technical cooperation to finance studies and investment projects. Related requests for funding should have any of the following objectives:- To attract international tourism as well as promoting and facilitating national tourism Developing areas with tourism potential that are not yet developed economically To create new employment opportunities To contribute to Latin American regional integration
37 IDB S SUPPORT FOR TOURISM DEVELOPMENT The Bank s main areas of activity related to tourism are for INFRASTRUCTURE WORKS and for BASIC FACILITIES, including HOTELS and DEVELOPMENT OF CULTURAL TOURIST ATTRACTIONS. However, the bank is guided by its policies related to providing financing. While, the Bank expects that the public and private sector agencies and financial institutions with provide the financing for BASIC FACILITIES it can relax its policy in exceptional circumstances such as:-
38 IDB S SUPPORT FOR TOURISM DEVELOPMENT Limited investments are required to engender broader participation by the private sector A country does not have the necessary experience or capability, or properly qualified institutions for the development of tourism attractions Where the Bank is desirous of strengthening institutions responsible for the effect development and preservation of tourism attractions Need for the expansion of the supply of tourist hotels especially by small and medium businessmen Need for basic facilities in potential areas with low employment Nature of the project precludes private sector participation
39 IDB PROJECTS IN LATIN AMERICA In Bolivia and Nicaragua, the Bank provided financing and technical support for the following:- Restoration and improvement of tourism resources Training & technical assistance to MSMEs To improve planning and management capabilities Develop culture and leisure centers The restoration and improvement of coastal promonade and historic centers
40 IDB PROJECTS IN LATIN AMERICA The creation of overlooks, bicycle paths, pedestrian walks along scenic routes The sustainable management of tourist areas such as:- the adapting to climate change; implementation of natural disaster risk management and mitigation procedures in coastal areas; management of beaches; use of renewable energy Developing systems for the regulation, rating, control and inspection of tourism businesses The upgrading of regulatory and policy framework
41 IDB PROJECTS IN LATIN AMERICA In Brazil, the Bank has played an important role in providing funding for Tourism Development Program in the North East of Brazil (PRODETUR) that is executed by BNB. The program is aimed at social and economic development brought about by developing the tourist activity and resulting in the improvement of life conditions of the inhabitants by creating basic infrastructure; attracting investments, and institutional development. The first phase of PRODETUR was carried out between 1995 and 2004 with a total investment of US$736 million (US$400 million were contributed by IDB) directed at investments in airports, basic sanitation and transport.
42 IFC S SUPPORT FOR TOURISM DEVELOPMENT The International Finance Corporation is an affiliate of the World Bank Group whose vision is to assist people to escape poverty and improve their lives. It is the largest multilateral developmental financing institution investing in private enterprises in emerging markets. It provides investment and advisory support to private sector clients and works in additionality to existing sources of financing.
43 COMMERCIAL FINANCING TO THE TOURISM SECTOR There are many local, regional and international commercial financial institutions providing support for the sector. However, based on the risk adverse nature of these institutions many don t provide funding for early stage projects that have inadequate equity investments and or tangible assets to pledge as collateral. These institutions tend to finance the larger upscale projects and provide very little support to the MSME sector
44 DEVELOPMENT
45 STRATEGIC APPROACH Need for a coordinated approach between Councils of Tourism to expand market share Need to determine and prioritize the key development challenges of the tourism sector related to investment with a specific plan and precise targets for tourism development Need for tourism programs to be developed from the perspective of the demand requirements as determined by market research; and the supply markets should be from diversified destinations with future growth potential
46 STRATEGIC APPROACH Need to develop joint strategies to promote inbound tourism on a regional level so that the benefits are extended to the entire community of nations Need for reliable air services, high level of security & supply of goods and services from within the region Need for an integrated approach to tourism development in conjunction with other related sectors (Agriculture, MSME, Infrastructure)
47 The Brazilian Approach The Brazilian government initiated as part of its National Tourism Policy, a Tourism Development Program named PRODETUR. This program of action for Integrated Development of Tourism called for the financing and implementation of tourism infrastructure in locations considered potential inducers of private investment. This program was implemented primarily in the Northeast with a total of US736 million being invested in phase I.
48 The Brazilian Approach As mentioned earlier, US400 M was invested by IDB through BNB and US336M came from Govt. of Brazil & the North East States. Areas of investments:- Environment Protection & Preservation..3% Structure upgrading & Training.4% Restoration of Historic Sites.5% Transportation 12% Sanitation..24% Airports..34% Other 12%
49 STRATEGIC APPROACH Need to provide support to the tourism enterprises & entrepreneurs for the strengthening of their management processes, enhancement skills and to improve capacities to identify and access new opportunities Need to establish region wide certification standards for quality and the criteria for the classification of products offered in the sector Facilitating the access to financing and technical assistance to MSMEs
50 A ROLE FOR VOLUNTEERISM Based on the need to provide technical training and business assistance to many of the MSME business enterprises and entrepreneurs, a unique opportunity exists for the use of volunteers to provide the required services at a fraction of the cost of contract industry professionals at market costs. CDC Development Solutions of Washington, DC leverages public, private, and volunteer resources to strengthen MSMEs and the institutions, governments, and industries that drive economic growth in emerging markets.
51 A ROLE FOR VOLUNTEERISM CDS applies unique methods to create opportunities for small businesses and entrepreneurs working within the tourism supply chains. They identify value gaps where opportunities for local development through jobs creation, new business planning, and supplier relationships have not yet been realized Two unique MBA Volunteer programs are accessible, which utilize the cutting-edge expertise of these young professionals for either 1-6 month or year long assignments
52 A ROLE FOR VOLUNTEERISM There is another volunteer organization, GNTP that intends to focus on leveraging existing efforts to help build a large network of destinations in South and Central America with various degrees of needs. Additionally, this volunteer network would collect extremely important information about the various destinations that they visit and feed this information through the network and beyond that would impact positively on future visitor travel to the region
53 A ROLE FOR VOLUNTEERISM To utilize these volunteer networks to direct contributions for social and environmental development projects to a Trust Fund that would be administered through the vast banking network of ALIDE member banking institutions.
54 MARKETING
55 A CRITICAL NECESSITY Marketing of the Region to generate increased tourism arrivals with the related growth in revenue that will ensure debt repayments and profits for owners / investors as well as increased public sector income Need to promote the uniqueness of the region and offer combined destinations tour packages Need to brand the region as a premier & exquisite vacation destination
56 SUPPORTING EACH OTHER Capitalize on the two upcoming International sporting events in Brazil to bring awareness to the region in a sustainable way Ongoing promoting of the destinations well past the staging of these events to keep the positive experiences of the visitors or the viewing audiences in the forefront of their minds Develop the Integrated Multi-Destination Marketing Platform for the LAC Region
57 IMMP for the LAC Region An Integrated Multi-Destination Marketing Platform for the LAC Region Presentation follows..
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