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TSA To Give Detailed Information About SVGA project designed to produce a better picture of tourism’s contribution to the economy of St. Vincent and the Grenadines is to get on the way. The initiative called the Tourism Satellite Account (TSA) is expected to generate more detailed information, which will give a more accurate assessment of the impact of the sector. The project is spearheaded by the ACE international Consultants and funded by the European Union. It is a joint venture between the Ministry of Tourism and the Ministry of Finance. The Ministry of Tourism is charged with collecting the information, while the Ministry of Finance has the responsibility of analyzing the data.  Acting Director of the St. Vincent and the Grenadines Tourism Authority Faylene Findlay-Scrubb said the TSA project is expected to better reflect what visitors spend here.
“Right now we count mainly on the accommodation and restaurant sector, but we’re hoping that through the TSA we are going to have an idea of what they spend in transportation, agriculture, arts and crafts etc,” said Findlay-Scrubb. “We would be doing expenditure surveys, heavily focusing on what visitors spend: inbound and outbound,” she added.“The hope is that you are able to capture all of the areas that you would not have normally been able to do under your regular expenditure surveys and balance of payments,” said Findlay-Scrubb. The project, now into its second phase, is expected to produce higher tourism figures than those which are presented in the visitor arrival statistics. Accurate pictureFindlay-Scrubb said the tourism-based countries in the OECS that have implemented the TSA, have been using it to get a more accurate picture of what is contributed by tourism to their economies, and this usually results in a higher margin.Draft TSA tables“I know in St. Lucia they implemented a TSA recently and they presented their draft TSA tables, and the impact of tourism, particularly where expenditure was concerned, was much more significant than what they would have accounted for over the past couple of years....I think the expectation is pretty much the same here,” said Findlay-Scrubb. Glen Beache, Minister of Tourism, told Parliament recently that it was under the Unity Labour Party (ULP) administration that visitor expenditure went over EC$300 million in one year. He contended that even said figure was not a fair assessment. |
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