One of the most tourism-dependent regions in the world, CARIFORUM, comprising 14 states of the Caribbean Community of nations and the Dominican Republic, is the tourism hub for people who seek to soak up the “sun, sea and sand.” Given the changing demands of the current global traveller, CARIFORUM is ready to transition its sizable tourism sector to further sustainability to maintain its international competitiveness and this provides interesting opportunities for investment and trade.
EU traders and investors have a competitive advantage in this region because of an Economic Partnership Agreement (EPA) signed with CARIFORUM which allows favourable investment and tariff regimes. In this context, International Economics, in Consortium with GOPA Worldwide Consultants and Policy and Management Consulting Group, hosted a webinar on Sustainable Tourism in CARIFORUM aimed at promoting the development of the sector through EU investment and trade, by seizing the opportunities offered by the CARIFORUM-EU Economic Partnership Agreement (EPA).
This webinar followed on the completion of a study titled “Sustainable Tourism in CARIFORUM.” It was the second in a series of studies commissioned by the European Commission to raise awareness on the economic opportunities related to the CARIFORUM-EU EPA to enable the EU private sector foster valuable business partnerships in the region. It highlighted emerging trade and investment opportunities in sustainable tourism across the CARIFORUM as well as priority subsectors for EU trade and investment. It also explored conditions for market access and the ease of doing business. The webinar aimed to validate and discuss the findings of the study, whilst informing stakeholders of the critical next steps for the effective adoption of sustainable tourism best practices.