Tourism, international business must work together to succeed, says BIBA
The future of tourism and international business is intertwined and both must stay healthy to succeed, according to a leading business executive.
Mrs. Wendy Davis Johnson, executive director of the Bermuda International Business Association, was speaking to the Hamilton Lions on forging a partnership between international business and tourism.
She told the meeting that international business pumped more than $500 million into Bermuda's $2 billion economy, directly employing 5,000 Bermudians with another 5,000 affected by that employment.
And in terms of its contribution to the hotel industry, Mrs. Davis Johnson said one in three guests who stayed in resort properties were business travellers.
"There probably was never a line in the sand that separated those who chose Bermuda for international business and those who chose Bermuda for a holiday,'' she added.
"Meanwhile any perceived line has been blurred as never before and one could argue that the two industries are now so mutually dependent that we are all directly affected by the fortunes of both.
"In order for each industry to succeed, both must stay healthy,''said Mrs.
Davis Johnson.
The international business industry's explosive growth, she added, and its critical importance to the local economy was such a recent phenomenon that a basic understanding of what it meant to Bermudians "has been pretty much left in the dust''.
Results of a survey showed most Bermudians equated international business with insurance and even those Bermudians employed in the legal, banking and accounting professions did not see themselves as part of the industry. "Most didn't have a feeling of commitment to the industry and most felt that international business was fast becoming more important to Bermuda's economy than tourism.'' She added: "The insurance sector is without question the Bermuda industry's success story.
"However, if Bermudians don't understand the crucial role they play in this and other sectors of the industry, if they don't feel they have significant career opportunities in international business and if they don't understand how much the industry relies on tourism in order to succeed, then neither international business nor tourism will flourish.
"Because, in the final analysis, Bermudians will make or break the competitive future of these two sister industries.'' Plans are being finalised for local awareness programmes for both tourism and international business and a meeting took place recently between BIBA and Tourism Minister David Dodwell.
There was broad agreement about tourism and international business working together more closely, in particular regarding marketing, and it is hoped Mr.
Dodwell will take part in the Bermuda Briefing Tour in London and Zurich.
"How many other countries can lay claim to offering both a premier business and leisure experience? Most of our island competitors can provide a decent, possibly premier holiday experience.
"Few, if any, can boast the sophisticated world-class business experience available in Bermuda. None can tout both a premier business and holiday experience.'' Mrs. Davis Johnson added: "The question is not one of the importance of international business to Bermuda. Answering such a question provides too narrow a perspective.
"Both of our sister industries are critical to the Island's continued success. Promoting the pleasure of business and the business of pleasure provides Bermuda with a point of differentiation that is hard to challenge.'' SISTER INDUSTRIES MUST WORK TOGETHER -- BIBA executive director Mrs. Wendy Davis Johnson.
