On the occasion of the inaugural USA-Caribbean Investment Forum at the New York Marriott Marquis, Kenneth Bryan, Chair of the Caribbean Tourism Organisation and Minister of Tourism of Cayman Islands spoke of the immense investment potential of the Caribbean region that beckons investors worldwide.
Representing 25 nations and territories of the Caribbean, Minister Bryan shared that the region has long been admired for its pristine beaches, crystal-clear waters, vibrant cultures and warm people, making it an exceptional choice for investment.
As the fastest growing region for tourism, the Caribbean also faces unique challenges, such as vulnerability to climate change, a reliance on imported fossil fuels, and the need for inclusive economic growth. He noted that it is the responsibility of governments to seek sustainable investment and innovation.
Supporting this call for action, Minister Bryan remarked: “Today’s travellers are increasingly conscious about the environment, and actively seek destinations and properties that embrace sustainability and eco-friendliness. Sustainable tourism is, therefore, not just a buzzword; it is a commitment that Caribbean leaders are taking seriously.”
Minister Bryan encouraged the attending investors to become part of the sustainable tourism development movement through projects that embrace environmentally responsible practices, such as energy-efficient designs, waste reduction and responsible water management. The Caribbean leader reported that sustainable tourism and renewable energy are two sectors on the forefront for growth and was encouraged that G20 leaders recently committed to scaling up financing for these as well as other sustainable development goals.
“As Caribbean leaders, while we welcome foreign direct investments, we remain committed to ensuring that investments in our tourism industries benefit the local population and create a positive social impact,” he added. Sustainable tourism goes beyond greener initiatives and should also contribute to the local economy, which supports the Caribbean’s culture and traditions.
It also provides a unique selling proposition in keeping with the recognition that countries should focus on attracting foreign direct investments in sectors which advance their national development objectives. Minister Bryan concluded with an invitation to the investors to become part of the Caribbean story of economic growth, community empowerment, sustainability, and unforgettable travel experiences in the region.
The USA-Caribbean Investment Forum, organized by the Caribbean Association of Investment Promotion Agencies (CAIPA), is a pivotal event for investors, entrepreneurs, and stakeholders seeking to capitalize on the opportunities within the Caribbean region. The theme of the two-day forum is “Partnering for Sustained Development in the Caribbean”.