Mature nations should
leave Tourism Management to the private sector, while preserving public spaces
as tourist attractions. This would under normal conditions require a sound
Strategic Plan, a large initial investment in facility design, construction,
and contracting a suitable operator, with financial projections incorporating
routine maintenance and timely infrastructural upgrades. But it also requires,
at the very least, a Government intervention every five years, such as the
hosting of a global or regional conference with high profile attendees,
international media coverage and catering for guest numbers of twice times the
nations room stock. The intention being to positively advertise the location
and its facilities cheaply or for free, earn profits to offset past or future
construction cost, but mainly to stress capacities over its limits, to measure,
gauge and improve supporting services.
Tourism management is a specialize field, requiring skilled
and experienced leadership with performance clauses in their operational
contract, selling services based on a successful track record and global brand
recognition. Specially trained staff is also required, bringing a local hotel
and tourism school into the foreground of Governments' policy and
responsibility. Such trainees must all be selected based on personal attitudes,
as no training institution can provide that element of natural friendliness,
but recognizing that courtesy and a smile is essential in this sector. The simple
goal, on every employees mind, must be to encourage repeat visitors and
word-of-mouth recommendations.
Competing in the international tourism sector, for guess
participating in multiple sub-sectors; cultural, sport, religion, which would
require support in passenger transportation and event management facilities,
all needing strong regulations and oversight from Government. Airline route and
landing rights, access to seaport passenger terminals with the necessary
security, immigration and customs services, and land transport connections are
again falling under Governments policy and responsibility. So too, is the
maintenance of tourist attractions; landmarks, sporting and entertainment
facilities, and the nation's ecological spaces. Hence, Government must make and
enforce rules to preserve such sensitive assets, such as; numbers of visitors
allowed in eco-parks at any one time and for what, capacity of stadiums, and
the type of events that can be hosted at a particular venue.
Properties; hotels, guest houses, planes, ships, trains,
stadiums, parks, beaches, coastlines, all require routine maintenance and
schedule upgrades, to remain competitive in the tourism sector. Here is where
Governments' policies are most needed, to supply soft financing and other incentives
to preserve and not let damage or neglect depreciate such properties values.
Funds set aside from this sector’s previous tax collection and placed in a
special purpose treasury account, or the use of Government guarantees to
commercial lenders, for tourism property upkeep or expansion which can be
accessed at very low interest rates, can help keep the essential facilities and
the sector competitive. While other incentivize packages, such as; subsidized
transportation fares or reduce event ticket prices, offered to visitors will
keep the sector profitable and growing.
Divesting such commercial real estate property, via the
stock exchange, would invite long-term investors; sector employees, insurance
companies, mutual and pension funds, seeking capital protection and stable,
better than inflation gains, willing to pay a premium to solidify their
portfolio. Hence, Governments can raise cash via initial public offerings to
stabilize the national budget and/or strengthen the national savings, while preserving
such tourism property assets, promoting the tourism sector, collecting taxes
from the sector, and generating capital gains and still earning dividend
payouts.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
