WHY TOURISM DEVELOPMENT?
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WHY SUSTAINABLE TOURISM MATTERS
Tourism is one of the planet’s largest industries, one of the largest exports and drivers of economic growth globally. In developing economies, tourism is the main source of foreign exchange earnings and the most viable option for sustainable economic development. It accounts for 10% of all economic activity on the planet and supports 1 in 10 jobs. It is resilient and was the first industry to bounce back from the pandemic. This is true of no other industry.
Successful destinations and places need a clear vision for how they want to grow, a roadmap of how to get there, what they need to create, who to market to and a tool to measure their success. Developing tourism in a sustainable way can be complex. Successful inclusive tourism is the result of an integrated approach that includes strategy, product development, education, collaboration and marketing.
When tourism respects cultural heritage, the industry can play a powerful role in preserving and valuing tangible and intangible cultural traditions. Today’s high-value travelers from seniors to millennials, seek authentic cultural experiences creating market incentives to protect and share cultural heritage. When it is thoughtfully developed tourism preserves diverse cultures and ensure the traditions are passed on to the next generation.
We understand the global tourism market and can advise how to effectively develop tourism and attract foreign direct investment. Lodestar Tourism (LTC) is well-versed in the trends shaping tourism-related investments. One of the most important trends – the triple-bottom line approach, seeks returns on investment that are financial, social and environmental and we work with tourism investors to facilitate the ease of doing business.
LTC is also concerned with inclusiveness and tourism linkages to assist with reducing poverty and raising the quality of life for all. Tourism is everybody’s business and so we will look at the other sectors of the economy, see where demand for tourism products intersects, be it agricultural products and the hotels, manufactured products such as mattresses and indigenous furniture and fabrics and fold those products into the sustainable tourism mix.
We have partnerships with a wide network of global travel and tourism organizations and specialist consultants that enable us to deliver integrated solutions to our clients. We also partner with technology companies to supply innovative solutions that deliver tangible benefits.
Our work is aligned to the People, Planet, Prosperity, Peace and Partnership objectives of the 2030 Agenda for Sustainable Development and the
United Nations Sustainable Development Goals (SDGs).
WE’RE DIFFERENT BECAUSE…
We hail from a country that was at the forefront of Tourism as a concept, in the 1960s and has built a successful franchise that relies on this viable model as the fuel that powers The Bahamas’ economy. Beyond the pageantry of tourism and on the frontlines of the climate crisis, it does not always look like a disaster zone.
In fact, in The Islands Of The Bahamas it most often looks like paradise but the invisible threat has already placed the lives and livelihoods of small island nations like The Bahamas at risk.
Because we live here we know what the challenges are, we know what it is to fight for a sustainable future and mitigate tourism’s impact on climate change and to create climate resilient tourism industries.
