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Early Last year, the Trinidad & Tobago Chamber of Industry and Commerce commissioned a study by CAP_M Research to explore the feasibility of the economic diversification of this country's economy. The study entitled, "Complementing the energy sector in T&T: The road to economic diversification," was presented to the Minister of Finance in July 2009 as the Chamber's submission for the National Budget in fiscal year 2009/2020. The main criteria used in the study for the selection of niche products were the ability to generate export earnings, a comparative advantage to T&T and an existing sucessful starting base. One of the areas identified in that study - cultural tourism, as well as an additional sector, the arts, are areas that have been explored in this issue of CONTACT

 

 

The world is looking to China these days for many reasons. As one of the oldest civilizations in the world, with a population of more than 1.3 billion (the Han group making up 91.02% of the population and 55 other ethnicities making up 8.98%), a stunning global trade surplus, a growth rate that just won't seem to slow down, and the expansion of its entrepreneurial people to all corners of the globe, China obviously has many things to teach the world.

Trinidad and Tobago has benefited from the presence of the Chinese for 201 years, and while their numbers here are small (around 11,000), their influence in almost every sphere of life, cannot be underestimated...more

 

While the sister isle is bent on diversifying its economy away from the dominant energy sector, Tobago's special problem is trying to get away from its heavy dependency on tourism. Chief Secretary of the Tobago House of Assembly (THA), Orville London, recently told delegates at the islands's first-ever Economic and Business Outlook Conference that Tobago's recent success in tourism is now a major concern for the island. Mr. London cited a recent report which said Tobago had become "one of the most tourism dependent islands in the world," saying this was troubling because tourism was a volatile mistress who could be generous at times but could also be very fickle...more


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