$20M to be spent on Tourism Authority when set up
The government has set aside $20 million in this year's budget to finance a part of the Tourism Authority when it is set up. Minister with portfolio for Finance, Saisnarine Kowlessar said that the government expects during this year to complete legislation governing the establishment and operation of the Tourism Authority. The setting up of a Tourism Authority was announced in the 1999 national budget with a subvention of $15 million but no resources were released because the body was not established. Kowlessar noted that in May, Guyana will be hosting the five-day Sustainable Tourism Conference organised by the Caribbean Tourism Organisation. He said this forum is expected to attract about 250 travel agents and tour operators from the Caribbean, North America and Europe and would provide significant exposure for Guyana. Guyana will also be attending the Caribbean Week forum in New York at the end of March and the World Travel Market show in London in November, Kowlessar said. "In all of these endeavours, the clear objective will be to promote Guyana's fledgling tourism sector, especially eco-tourism," said Kowlessar. He added that his government has long recognised the importance of the emerging tourism industry in Guyana and in addition to the incentives to the private sector, a special tax regime to invest in the sector was introduced in 1995. This regime was applicable to projects on a case by case basis, providing tax relief on an individual basis.
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