How does trinidad and tobago economy benefit from carnival

All studies to date have indicated that the industry offersrich potential for national development. The copyright-based industries produce about 4. These shares are growing. Carnival is an important contributor to this process.

Moreover, it already produces a wider range of intellectual property andrelated goodwill other than copyright.

The GOTT now intends to measure the full potential ofCarnival in a way that allows the country to make the most effective policy forits development. The GOTT wants to promote the most effective use of itspotential to stimulate national development. It will promote, among others:. Accordingly, the GOTT will arrange to involve allstakeholders in the most democratic way possible.

So, it will employ asector-wide method that:. Background work is currently being done by the consultantsof the NCC to assemble some of the starting data readily available from the CSOand the stakeholder community. This will involve getting information on stakeholdergoals and concerns.

This is attributed to expanding capacity the construction of the Hyatt Regency, the Carlton Savannah, and the upgrade of the Hilton Trinidad coupled with slow growth in demand affected by a slower world economy and the growth of video-conferencing and new media. Built on a five-day high-season during Carnival in the days preceding Ash Wednesday, many industry participants are calling for diversification within the tourism sector to help exploit the potential of the islands.

The problem with Carnival is that international tourists and many expatriate Trinbagonians flock to the islands — but for only a short period. Visitors will also spend outside the hotel on food, drink and joining bands and shows. One response could therefore be to try to lengthen the Carnival period, attracting international visitors to the whole range of pre-Carnival fetes and steel pan competitions.

There is also a debate over whether the islands should pursue mass or more select types of tourism. In rough outline, mass tourism involves large numbers of people spending modest amounts of money, while more select or niche tourism involves fewer people with a higher spend per capita.

Lengthening the season beyond the carnival period also occupies the thoughts of government officials. Our cultural diversity is a major advantage over our competitors.

This is one of our strong selling points in achieving an increase in arrivals. Vincent and the Granadines and St. Telecoms e. From this standpoint, the Carnival is one of the key pillars of the Trinidad and Tobago economy and deserves to be managed as such. Services trade is manifested in different modes. Table 1 outlines the various modes of services supply as it would apply to the creative sector.

Mode I is cross-border supply which refers to services that is transmitted via some form of telecommunications, for example, sound engineering a soundtrack or design services e. This is an area where Trinidad and Tobago has expanding capabilities on account of the importance of the regional carnivals and the diaspora as markets in the EU, US and Canada. Consumption abroad Mode II is where consumers from one country travel to use services in another country. This involves tourism related activities such as festival tourism which is captured in the above analysis.

This is an area where trade in services has been the weakest in spite of the importance of the diasporic markets. Mode IV speaks to the movement of natural persons, for example, a music band on tour.

This is the area which accounts for the second largest share of the services exports for the carnival sector. The exact earnings are virtually impossible to measure given the weak data capture in this area. Cross-border supply Supply of services from one country to another, for example, sound engineering services or Mas design services transmitted via telecommunications. Mode II:.

Consumption abroad Consumers from one country using services in another country, for example, cultural, festival and heritage tourism. Mode III:. Commercial presence A company from one country establishes a subsidiary or branch to provide services in another country, for example, setting up a booking agency.

Mode IV:.