Dr Iverson: Marine Reserve Could Boost Tourism

Tourism economist, Dr. Tom Iverson returned to Bermuda this week, discussing the potential for jobs and the economic driver that a marine reserve could be for the island.

He revisited his earlier study on the economic impact of a marine reserve , by analyzing current statistics and placing his results into the current Bermuda tourism climate and context.

Dr. Iverson was in Bermuda to meet with government officials and local stakeholders to present his opinion that a large marine reserve designation could bring a much needed influx of air arrivals, perhaps as early as the fall low season, if decision makers act quickly.

Dr. Iverson stated: “I think a $10 million increase for the Bermuda economy and 200 jobs in my original study was a low estimate and based on effective marketing of a reserve that perhaps a 2-3 % increase in tourism is reasonable. A 2% increase would mean an additional 14,000 visitors to the island and $20,000,000 to the local economy.”

He went on to say that these jobs would provide support to the service sector, an area with considerably higher unemployment than other sectors on the island. He also pointed out that since tourism contributes 23% of tax revenues, this would also help with the current fiscal crisis faced by the island by lowering debt.

Dr. Iverson mentioned the recent report by the Chamber of Commerce Tourism Committee, and also the “Fifth Hub” concept of the National Tourism Plan that has also been endorsed by the Bermuda Tourism Authority as excellent examples of the way forward.

After meeting with Dr. Iverson, Bill Hanbury, CEO of the Bermuda Tourism Authority, also reiterated that “The National Tourism Plan proposes our marine environment as the ‘5th Hub’. In essence, this means that our beaches and the ocean surrounding Bermuda are a vital resource, that we must never take for granted and that need to be cared for and protected.

“The niche of eco-tourism is a rapidly growing area of tourism that Bermuda can reasonably expect to target with appropriate marketing and the marine environment of Bermuda is a natural to provide focus for this niche market.

“The BTA thus supports preserving and protecting a sanctuary in the marine environment of Bermuda to ensure that we can hold our heads high and thus acclaim a leadership position in this area.

“We recognize the need for dialogue and communication with all those involved in both reaping benefit from the marine resources that abound around our Island and those that seek to protect and preserve this unique environment and we hope, in some way, to be able to provide encouragement to bring various stakeholders together for the collective benefit of the future of tourism in Bermuda.”

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Category: All, Environment, News