Business:
Money to be made Leon Walcott looks at 'the business of Cricket World Cup'
Stabroek News
February 20, 2007
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Will Cricket World Cup help bring the tourism in?
Up to this time so far, the International Cricket Council has given its seal of approval to the Le Meridien, Cara Lodge, Cara Suites, Roraima Inn, Blue Wave, Ariantze, and Buddy's International Hotel.
Informed estimates suggest that CWC visitors could spend up to US$200.00 on meals and accommodation alone. Even this modest estimate means that more than US$40m could be left behind.
If the hotel and services sector are upbeat about the forthcoming CWC the rest of the business community is somewhat more cautious. The local handicraft sector, for example, is constrained by the sunset legislation which has designated "approved" CWC souvenirs to be sold at specific outlets including the Providence Stadium. While many of the producers and vendors say they will take their chances simply selling their craft on the street they remain uncertain as to the degree of success that they will realize among visitors who may well be focusing on securing only official souvenirs.
The Calabash Gift Shoppe, the official licensee for CWC souvenirs has begun marketing an assortment of CWC 2007 souvenirs and while co-owner Elizabeth Deane-Hughes has said that she is encouraged by the public response she is also concerned about the recent appearance on the local market of imported fake CWC souvenirs. That notwithstanding, Deane-Hughes believes that CWC could provide an opportunity to kickstart an industry that has, up until now, not moved beyond a subsistence level.
Some tour operators have reported increased demand for tours both in and out of Georgetown. Sabita Singh of Rainforest Tours told the Guyana Review after a slow start "there has been a rapid increase in bookings during the past weeks." She said the Kaieteur Falls is the preferred destination for most of the clients. Shanklands Resort owned by the Jardim Family revealed that they have had to close bookings for the CWC 2007 period since several of their regular customers had made advance bookings for that particular period. Baganara Resort, Evergreen Adventures and Wonderland Tours reported slow progress but are optimistic things will "pick up by early March."
While it is difficult to estimate the likely demand for food during the CWC "season" fish, meat, fruit, eggs and vegetables will all be in high demand. Whatever the "greater attractions" afforded by the tourism-oriented islands Guyana certainly holds its own in terms of foods and local farmers ought to be able to "cash in" at least for the period of the event. What CWC unquestionably offers Guyana is an opportunity to showcase its cuisine to visitors and to establish a reputation as the culinary haven of the region.
From all reports CWC-related spending has long been apparent. Additional services have meant that the service sector has had to recruit more staff and money has also been changing hands through the purchase of food, materials for repairs, maintenance and new constructions. There is, it seems, something in CWC 2007 for everyone.