Wednesday, 30 January 2013

MAYAG undertakes economic impact study on yachting

Grenada’s marine and yachting sector continues to grow and play an ever-increasing role in attracting foreign direct investment, complementing Grenada’s land-based tourism product, generating revenue for ancillary businesses, providing high-skills job opportunities for Grenadians, and generating significant tax receipts for Government. The challenge now is to quantify those contributions.

The Marine and Yachting Association of Grenada (MAYAG), in co-operation with the Government of Grenada, is asking for your help in conducting an economic impact study of the sector in Grenada, Carriacou, and Petite Martinique.

Various businesses will be contacted for in-person interviews to determine what contribution the marine and yachting sector has on their sales, and to capture recommendations for improvements. If your business receives a noticeable amount of sales from the marine and yachting sector, please contact MAYAG to arrange to participate.

The interviews will be conducted from February 3 to 15. All interviews and survey responses will be strictly confidential. The published results will be compiled as anonymous data with no specific references to individuals or businesses.

The completed economic impact study will be used for the strategic planning and development of the sector, by both the private sector and Government of Grenada. It will benchmark Grenada’s product and performance against industry norms and competitive destinations and provide a clear indication of the sector’s economic relevance and contribution.

The study is being conducted by Dr. Andre Henry, a Trinidadian native with extensive regional experience and success on similar projects.  This study is part of a project funded by a grant from the Caribbean Aid for Trade and Regional Integration Trust Fund (CARTFund) to create a more enabling environment for the SMEs within Grenada’s yachting tourism sector. The Fund is administered by the Caribbean Development Bank.

MAYAG extends its sincerest thanks to the businesses of Grenada, Carriacou, and Petite Martinique for participating in this crucial exercise.

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