Sunday 24 June 2018

Bahrain urged to adopt new tourism formula

Manama, August 12, 2008

The business community yesterday pushed for Bahrain to adopt the Tourism Satellite Accounting (TSA) system.

The TSA standard serves as tactical tool for policy-makers, potential investors and business analysts to make important decisions.

’The contribution of the tourism industry to Bahrain’s gross domestic product would thus be assessed accurately,’ Bahrain Chamber of Commerce and Industry board member Nabeel Khalid Kanoo said.

The TSA was officially ratified by the United Nations in March 2000 to provide an accurate measurement system for the economic value of tourism.

It applies economic benchmark modules aimed at determining the contribution of the different components of tourism and its related activities.

It is also the only available UN accredited formula for measuring the full economic impact of tourism on the economy.

Kanoo, also BCCI tourism committee chairman, called for a two-pronged approach to overhaul the tourism industry and optimise its national economic dividends.

The proposed plan would entail complementary short- and long-term strategies.

He urged the Information Ministry to draw up a comprehensive programme aimed at developing the hospitality sector.

He also stressed importance of diversify tourism products, particularly, entertainment cities and public beaches.

The need to devise attractive promotional programmes for summer, Eid festivities and spring holidays was also highlighted. - TradeArabia News service

Tags: Bahrain | tourism | Kanoo | formula | TSA | Chamber of Commerce |

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