The initial investment for 2012 would be $100 million with $50 million for each of the succeeding years, she said. In addition the government would appoint tourism attaches in London, Toronto and New York to market the island.
Persad-Bissessar made the statements in Tobago at a political rally to celebrate the 2nd anniversary of the People's Partnership that coincided with the launch of the campaign by the Tobago Organisation of the People (TOP) for the Tobago House of Assembly (THA) election, which is due in January 2013.
She said the Fund would provide resources for two major business categories in Tobago Tourism – debt restructuring for Tourism related businesses, and upgrade and maintenance of hotels that have fewer than 50 rooms.
She said in addition, Government is currently exploring the possibility of making Tobago a duty free island such as Margarita and similar locations.
She said in addition, Government is currently exploring the possibility of making Tobago a duty free island such as Margarita and similar locations.
Government is also exploring the feasibility of introducing Tobago’s first Marina that will operate to international standards and attract even greater volumes of tourists by sea, she said.
These initiatives coincide with the reopening of the Magdelena Grand Hotel, which she said would make Tobago a preferred destination.
Persad-Bissessar formally opened the hotel on Friday but the resort has been operating for the past six months. Since its reopening it has provided accommodations for 17,000 room nights for international guests.
The Prime Minister said the attachés will focus on niche markets including diving, golf and eco tourism in the initial stages.
The Prime Minister said the attachés will focus on niche markets including diving, golf and eco tourism in the initial stages.
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