Strategic Market Analysis

By: Safiyyah Abdul Hamid

Project: Since 2020, the pandemic has had significant negative impact on the global tourism industry. This comes at the same time that the medium and long‐term impacts of climate change, particularly for small island nations, are coming into sharper focus. Looking ahead, there are significant issues facing the industry and challenging tourism destinations to develop sound, science‐based plans for their tourism industry that can navigate economic, health, safety, equity, prosperity, and climate change issues. Destinations such as Barbados now seek to position themselves to attract capital at a time when investors are increasingly attuned to ESG‐related issues. This increases the importance of climate action planning meant to lower carbon emissions and realize net zero country goals related to the Paris Climate Agreement. The SGE Intensive team will make recommendations to BTMI consistent with the organization’s goal of evolving from a Destination Marketing Organization to a Destination Management Organization. The team will develop baseline information on investment needs and priorities that Barbados will require to move its destination resilience plan forward. It will also identify critical information required to qualify for financial investment that improves Barbados’ tourism infrastructure.