Appendix 4Recommended Tourism Incentives

(i) Tourism Accommodation Projects

Tourism Accommodation projects are considered High-Risk Projects owing to the many risk factors such as high capital outlays, vagaries of the market, and operational risk given that such projects are expected to operate at a loss for approximately three (3) years. The recommended incentives for Tourism Accommodation Projects are set out below:

(ii) Tourism Ancillary Facilities and Services

Tourism Ancillary Facilities and Services include projects that provide support for, or exist for the sole purpose of providing entertainment and attractions for use by tourists. These types of projects are usually associated with a fair amount of risk owing to the interrelated nature of the hospitality and tourism industries. In this regard, such projects sometimes require substantial capital investment and they are dependent on tourism accommodation having tourists to support their businesses. Thus, the risks can be similar to those of tourism accommodation. The recommended suite of incentives for the Ancillary Facilities and Services Sector are below.

(iii) Tourism Infrastructure

Tourism Infrastructure projects are generally those which require substantial capital start-up costs; and high operating and maintenance costs. In general, such projects are not revenue-generating and are often used for the public good. The recommended suite of incentives for Tourism Infrastructure is provided below.

Other tourism projects also represent substantial capital investment and, for the most part, they are directly related to the hospitality and tourism industry. These projects are also directly dependent on the performance of the tourism accommodation projects in terms of realising favourable occupancy that support other tourism projects. The recommended suite of incentives is detailed below.

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