/
Kick-off training  seminar Kick-off training  seminar

Kick-off training seminar - PowerPoint Presentation

magdactio
magdactio . @magdactio
Follow
347 views
Uploaded On 2020-08-04

Kick-off training seminar - PPT Presentation

Brussels 46 November 2014 Innovation in the TCI A Triple Helix Responsibility Shonia ThomasBeen Map of Turks and Caicos Exclusive Economic Zone EEZ 154068 km2 Shelf area 7395 km2 ID: 796998

tourism innovation tci main innovation tourism main tci government opportunities sectors market issues environment association stakeholders focus financial services

Share:

Link:

Embed:

Download Presentation from below link

Download The PPT/PDF document "Kick-off training seminar" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.


Presentation Transcript

Slide1

Kick-off training

seminar

Brussels, 4-6

November

2014

Innovation in the TCI:

A Triple

Helix

Responsibility

.

Shonia Thomas-Been

Slide2

Map of Turks and Caicos

Slide3

Exclusive Economic Zone

EEZ 154,068 km2

Shelf area 7,395 km2

IFA 9,060 km2

Coral reefs 2.5%

154,068

km

2

Slide4

Basic Facts and Figures

Area

193 square miles

Population

Resident in 2012 - 31,458

Non-Belonger /Belonger Ratio– 57.5%/42.5%Distribution according to skill level is estimated at: Unskilled/Manual -53%; Semi-skilled- 12%; Skilled 20% and Professional 15%.Gross Domestic ProductGDP 2013 - US$545.4M - 1.32% growth (y-o-y)GDP 2014 – US$570.6M – 4.62% projected growthUS Trade in Goods with TCI $225.8M in 2013

(imports) 10.6M (exports) Balance – $215.2M

Slide5

Basic Facts Continued

Main Economic Sectors

Tourism Hotels and Restaurants 38.6% of GDP

Financial Services Intermediation 10% of GDP

Real Estate, Renting and Business Activities 9%

Agriculture and Fishing 0.5%

Slide6

Issue in Main Sectors

Tourism

New policies

are required

that would encourage tourism activity in MICE (Meetings, Initiatives, Conventions and Exhibitions) tourism

segmentInadequate support for Research and Development.

Human Resources and Funding needed to recruit and retain highly skilled and technical workers.Ivory Tower syndrome regarding employment in Tourism and Hospitality Sector. Indigenous people that are academically inclined or the ‘educationally elite’ are not attracted to careers in tourism notwithstanding that it is the mainstay of the country.

Slide7

Issues in Main Sectors

Formal and Informal Training in Tourism and Hospitality is Imbalanced

.

Need a complementary skills and exposure in culinary arts, frontline activity, support staff/mentorship for individuals, adequate job placement in the market.

Mixing up Responsible Tourism vs. Sustainable Tourism

Pitting High Rise/High Volume against Low Density/High Spending Market. Can the two exist?

A need for a strategic audit on the carrying capacity of all three areas of the environment is imminent (coral reefs, wetlands and the inland).Lopsided Development between and among islands.

Slide8

Issues in Main Sectors

Fishing

Overharvesting of Queen Conch depleting population.

Lobster stock very low.

Is pelagic fishing a viable diversification option?

Real Estate

Generally operates on best practices, world class industry standards that are adaptive. Knowledge transfer inwards due to multiple international franchises within TCREA.Efficiency is inhibited due to the absence of TCI Government e-commerce services in the areas of land registry and land survey.

Slide9

Main Issues in Sectors

Financial Intermediation Services

C

urrent

regulatory environment

is daunting.

Regaining customer and market trust amidst a climate of failed banks and recently the receivership of an insurance company.

Difficulty attracting, retaining and developing the talent needed for the future.Finding new ways to make money.Remedial measures aimed at enhancing compliance may be too costly

Slide10

Main Stakeholders in Innovation

Government

Agencies/ Department i.e.

DeMA

, Investment Unit National Trust

Chambers of Commerce Traditional Tertiary Education Institutions School for Field Studies Financial Industry Association Junior Achievers/Young Enterprise Commercial Banks

Slide11

Main Stakeholders in Innovation

National Parks and Environmental Advisory

Committee ?

Hotel and Tourism Association.

Taxi

Drivers Associations.Civic groups such as Rotary, Kiwansis

, Girl Guide Association, etc. CTO – Caribbean Tourism Association.

Slide12

Situations with Main Stakeholders

Little to no excess. Companies’ resources

are devoted to day-to-day

operation

so that few remain for innovative prospects

.Little to no free time exist for fresh thinking; therefore thinking time seemingly has little merit in the working environment.

Intolerance for the time it may take to bring a BIG (i) to fruition. General aversion toward risk.Inconsistency. Persistent focus on innovation may be a problem. One year in, one year out.Financial institution may have available cash for lending, however they place more emphasis or reducing risk when extending credit. There access to credit may be a main inhibitor of innovation

Slide13

Situations with Stakeholders

Need to heighten the perception of entrepreneurship and innovation in the mindset of young people by incorporating it in some element of the school curriculum.

Insufficient regulatory framework geared at promoting SMEs or innovation.

Slide14

Who should drive innovation in the TCI

Governments, markets, or institutions of learning?

They

should work together. A triple helix! There may not

be a way around it!

Slide15

Opportunities for Innovation

The Innovation Proposition

TCI’s focus on innovation should depart from the usual science and technology orientation and should be ‘value driven’. It should be

centred

on traditional sectors where there is the greatest potential for immediate to mid-term impact. It can be based on local competencies; but not entirely. It should be directed towards addressing socio-economic issues relating to the environment and natural ‘life support’ systems (i.e. water, food, healthcare, energy, etc.

).

Slide16

Opportunities for Innovation

Government’s Role – Set Guidelines for Policy Incentives

TCI Government can resist being seen as the prime funder of innovation in the country; rather it should be proactive in highlighting the issues and problems to be solved through innovation.

Implementation of a pro-innovation government policy that will focus on business framework conditions that are attractive to locals and FDI

.

Ensure that adequate intellectual property right legislation in place to protect

the inventors’ ideas and the innovators during commercialisation.

Slide17

Opportunities for Innovation

TCI Government/Tourist Board

can

articulate a vision of fostering

‘value innovation’ – those that are related directly to tourism. They can be designed based, geared at improving the quality of services, or the experience of visitors

.

TCI Government can focus on communicating the ideals and benefits of innovation. The Government can encourage clustering of like-minded people who would take on new projects and ventures and feed off or support each other by networking.

The clusters can be centred on: product innovation, process innovation, resource innovation, customer/market innovation.

Slide18

Opportunities for Innovation

Pri

vate Sector’s Role

The few businesses that are doing things well need to share knowledge. e.g. Beaches Turks and Caicos utilizing: automatic switch-off a/c; partial solar energy, keycard light control systems, tap-installed aerators. This is expected to reduce energy costs by

20%.

Companies will only invest private resources in R&D if they consider the final market is 1) interested and 2) large enough to recover the investment.

Educational Institutions Role Tertiary Education should be promoting socio-economic development through innovation and should establish reward systems to incentivize general curiosity and research.

Slide19

Opportunities for Innovation

Green Economy:

Terrestrial Environment

Utilization,

d

evelopment and commercialization of alternative medicines (bush medicines) through the harvesting and processing of natural flora and fauna such as aloe,

moringa, neem.Innovation in Pollution ManagementThere is need for innovations in waste management including run-offs from building, that are laced with fertilizers and pesticides that can seep into the water table.

Slide20

Opportunities for Innovation

Reduction in Fossil Fuel Dependences

Innovations are needed to reduce the dependency of fossil fuels.