Cricket World Cup: All are involved
Business Editorial
Stabroek News
March 24, 2007
Although the predictions are that the arrival here in a few days time of cricket fans for the Guyana leg of the Cricket World Cup ought to witness a financial windfall, particularly for the country's service sector, a few imponderables persist as far as the longer term economic impact on the country is concerned.
The optimism that Cricket World Cup will bring with it a measure of economic gain is premised, first, on visitor spending during the actual period of the tournament in Guyana. The accommodation and food sectors seem set to be among the biggest beneficiaries from the event while the tourism sector could also benefit appreciably since there are already indications that some visitors will take advantage of their stay here to see our interior resorts and places like the Kaieteur Falls and the Iwokrama Rainforest project.
The craft and transportation sectors too will benefit from Cricket World Cup. Not only will the demand for public transportation increase but visitors will also be seeking to acquire both officially authorized CWC souvenirs as well as other items of local art and craft that will doubtless be much in evidence during their stay here.
And the night clubs, and restaurants, of course, will "cash in" on visitors seeking to entertain themselves at the end of the cricket matches and on those days when there are no fixtures. There is, potentially at least, much to be gained from Cricket World Cup for some sections of the economy even though, since we still have no idea as to the number of visitors who will eventually arrive here it is difficult to place a number on the amount of money that they are likely to leave behind.
The second premise on which our optimism over the impending arrival of the World Cup bandwagon is based has to do with its potential post-event impact. From the standpoint of the tourism sector, particularly, the assumption is that the international exposure that will accrue to Guyana arising out of both visitor numbers and global television coverage during the World Cup could provide a genuine kickstart for larger numbers of visitor arrivals in Guyana on a sustained basis and, by extension, for the keenly awaited blossoming of tourism as a major contributor to the economy.
It is entirely reasonable to assume that those investors who have sunk hundreds of millions of dollars into building new hotels and guest houses and renovating old ones are looking beyond the World Cup and anticipating a meaningful increase in visitor arrivals when the event is over. The same, presumably, is true of the resort owners who have also invested in increasing accommodation and, generally, upgrading facilities. It is true that many of these developments would probably not have taken place at this particular time had it not been for the World Cup. On the other hand, investments being exactly what they are, they are premised on a longer term profitability.
It is at this point that we can enter into legitimate speculation as to whether the assumptions regarding the likely spin-offs of Cricket World Cup are reasonable or otherwise. For example, will the global marketing opportunity that Cricket World Cup undoubtedly affords be converted into a boost for the tourist industry? Will we fill our hotels, guest houses and resorts after the event is over? Will the investments be worth the while in the long run?
These questions ought, surely, to help inform our approach to hosting the Cricket World Cup since the answers could have a profound, long-term impact on some sectors particularly, and on the economy as a whole.
What is particularly interesting about the equation is that the answers to those questions will be shaped not only by the investors themselves but by the country as a whole. What we get out of the Cricket World Cup in terms of post-event returns will depend as much on the quality of our hospitality as it will on the natural attractions of our country. Our interior resorts and nature-based attractions cannot, alone, recommend us. Considerations of service standards, the efficiency of the transport sector, the disposition of the people and, perhaps, above all else, security, will determine how we are judged as a country.
The onus, therefore, is as much on the ordinary Guyanese citizen as it is on the hoteliers, resort, restaurant and night club owners, and, for that matter, the government, to present our country in the kindest and most attractive and hospitable light when the eyes of the world will be on us - so to speak. It is a literally a case of the well-being of the country resting in the hands of every Guyanese.