Caribbean Spa & Wellness Road Show Promoting Trade and Investment Globally
Road Show Objectives • Present Sector Strategy and Quality Assurance Measures (Standards) to national stakeholders • Secure agreement from national policy makers & trade support institutions to prioritize sector for export enhancement • Convene a National Committee to be tasked with implementing the Strategy
• Discuss mechanisms for integrating national sector objectives into regional strategy • Secure feedback from all stakeholders
Background to Project Funded by UK-AID through the CDB under CARTFund facility and managed by Caribbean Export 3 Components: - Market Research and Strategy Development - Marketing and Promotion of the Region’s H&W product - Standards Development
Sector Overview - Rapidly expanding multi-billion dollar market (spa and wellness part of broader health and wellness sector) - Caribbean’s potential valued at US$180 million annually - CARIFORUM’s product offering relatively underdeveloped & is not a priority export sector
- CARIFORUM faces challenges of insufficient scale and lack of Caribbean brand and identity - Thailand, India, USA, Europe (competitors)
CARIFORUM Sector Profile Small establishments (< 5 staff and < 5 treatment rooms) Many spas in operation less than ten years Lack of certified industry professionals (or certification lacks international accreditation) No official standards exist for most of the region
Ideal climate and environmental factors Relatively easy access to Caribbean with vibrant tourism industry
Challenges - Insufficient scale and uneven quality: different levels and quality of services; most spas don’t operate in purpose built facilities - Lack of Caribbean spa and wellness brand and identity: nothing to differentiate the Caribbean spa experience from that anywhere else; many spas are ‘informal’; no or very little use of indigenous products and treatments - Sector prioritized for export enhancement and attracts very little investments coupled with poor access to finance
Vision:
By 2030 the Caribbean will be recognized as a global leader in the Spa and Wellness industry, with the sector creating meaningful livelihoods and opportunities for economic advancement of its peoples!
Strategic Goals/Objectives • To build an identifiable S&W brand using the natural resources of the region • To develop a range of unique Caribbean S&W products, services and experiences to support the brand • To develop a cadre of trained professionals to deliver exceptions Caribbean S&W products, services and experiences • To develop and strengthen the institutions needed to serve Caribbean S&W stakeholders and market the brand globally
Strategic Goals (2) • To increase public and private sector investment into the Caribbean S&W sector • To ensure that the regional and national policy framework supports and encourages the expansion of the S&W sector • To diversify the Caribbean tourism sector and expand the local market for S&W services
Strategy - Designed to guide interventions in sector during the period of sector organization and brand development - Will contribute to development of regional brand anchored in â&#x20AC;&#x153;quality products and services reflecting unique Caribbean resources and cultural heritageâ&#x20AC;?
- 5 year period of implementation
Pillar 1 – Policy Development • Policy & Regulatory Framework
• Implementation of Regional Standards • Advocacy
• International Accreditation
Pillar 2 – Capacity Building • Training
• Organizational Development & Strengthening
Pillar 3 - Marketing • Articulation of Unique Selling Proposition
• Development of Caribbean Brand • Brand Positioning
• Looking at Target Markets and Access to those Markets • Marketing Partnerships
• Promotions and Campaign
Pillar 4 â&#x20AC;&#x201C; Product Improvement Products classified as:
Category 1: are [CSWA] compliant and as such are recommended for immediate marketing and promotion. Category 2: are not [CSWA] compliant, however, they only require minor improvements to be [CSWA] compliant. Category 3: are not [CSWA] compliant, however, they require major improvements to be [CSWA] compliant.
Pillar 5 – Resource Mobilization • Donor Coordination • Developing Effective Public-Private Partnerships and mechanisms (PPD mechanisms)
Implementation Mechanisms Implementation will be coordinated at two levels: regional and national Regional:
Implementation (2)
National Level Coordination