As a resident of St. Thomas, I listened to the first round of testimony at the recent major public hearing at the Legislature. In the first of three public forums, the community-at-large had an opportunity to discuss their views on the VIEW — the contemplated joint partnership between the Government of the Virgin Islands and Southern Energy, up for vote in the Legislature.
I walked away with the opinion that whole new sets of nuts and bolts are needed to jump-start our local economy. And privatization is one of them, despite rampant disbelief.
The old guard must listen to our well-informed future generation and others who have so elegantly voiced the opinion, "yes, to privatization" up to now. Otherwise, we will fall farther behind in the world of emerging new economies.
For example, let's take our best resource — tourism — which has been the main ingredient in our seasonal diet. Have we taken advantage of the opportunity to compete year-round?
In fact, travel and tourism, the number one industry in the world, represents 6% of the world's economy. Rising incomes, better education and a desire for adventure are making travel an important part of people's lives. Thus, we must think hard and fast as to what extent our small island ports must compete in an industry that is growing faster than the global economy as a whole.
Without a doubt, private sector investments would be the catalyst for driving the expansion and quality of our tourism base and the engine for "new" employment and entrepreneurial opportunities on the local front. It can support new hope for the Virgin Islands.
This past May, a very promising initiative came out of the meeting held by the Chamber of Commerce to accomplish just that. Keynote speaker Jeffrey Prosser offered up a one-half million dollar ante to fellow "business" stakeholders to meet him halfway. These funds would be used to identify investment incentives that could jump-start our economy as other leaders have successfully done in several states, including New York, Iowa and Virginia.
From a business point of view, there's a whole new world out there. We are no longer the prosperous Caribbean destination of yesteryear. Greater affluence, combined with greater individualism and special interests, are leading people to more upmarket and offbeat holidays — many wanting new thrills — a camel ride through the desert, a four-wheel jungle safari, or cruises to uninhabited islands. And clearly, it will take more than promoting our beautiful beaches and weather and duty-free shopping to capture a larger share of the travel and tourism industry.
These are only bonuses or attractive incentives.
Ongoing resistance to change lessens our potential for bringing in new monies that just might be spent elsewhere. With international doors opened wide, global capital investment in general infrastructure and facilities for tourism have increased by more than 70 percent over the past decade, according to latest WTT (World Travel & Tourism) and U.S. Commerce Department statistics.
And in many corners, Cuba is the name on many lips. So what does Cuba have to do with the U.S. Virgin Islands? It is a region the travel industry is dying to advertise as an emerging "renewed" port.
Cuba remains a safe environment for travel and Cubans employed by the hospitality industry are generally warm and friendly with a tremendous desire to serve the "guest." Think about it: Cuba is only 90 miles southeast of Miami, and Miami is the main transfer point to most Caribbean destinations. Foreign nationals are already traveling to Cuba and soon to follow will be U.S. passport holders.
So, in what ways might we compete to reap the benefits of the economic resources represented by the travel and tourism industry? The value of the world travel shopping industry (defined as purchases made by international travelers outside the country of origin) has been estimated at $60 billion and will climb to $90 billion in the not too distant future.
Why not organize an Airport Commission, a body of local citizens — sales promotion and merchandising specialists, or other creative talent — to help transform our local airport into one of our most favorable assets? A revolution is going on in airport terminals with many being converted into upscale shopping malls, while others provide a number of activities in the terminals (play on video games, work on computers or gaze at artistic exhibits) while vacationers wait to make a flight connection.
Could a state-of-the-art facility, an International Convention and Trade Center, be the catalyst in transforming our port into a world-class business destination? Promoting vacations designed specifically for families' traveling with a "special needs" family member is another option.
Theme parks almost always attract vacationers — mini-theme parks, a mini golf range or, even, an outdoor activity center for children. Young people grow and learn in a supportive and lively environment built upon history and focused on the future.
We can generate millions of dollars for the local economy and contribute to a renewed cultural atmosphere by hosting world-renowned artists, authors, lecturers and performers. All in all, many tourist ports of the world have moved on — seizing every opportunity to capture a larger share of the tourist market. And so should we.