Turistika: model scenario's 2008-2012 (part IV)
How does tourism from abroad affect production and job opportunities in a local economy? In which sectors does this production appear and what type of labour demand does it create? Are planned-growth strategies realistic, taking potential supply-side restrictions and seasonal effects into account?
Commissioned by the Department of Economic Affairs in collaboration with the Tourism Board of the Curacao island, SEO Economic Research has developed a model (known as Turistika©) for translating tourists expenditures into effects on employment and production within a number of sectors. It also identifies possible restrictions on the supply side of the economy, including the availability of qualified personnel, occupancy rates of hotels, restaurants and taxi services, and the capacity of the air transportation sector.
The model is used to compare economic effects in various growth scenarios, in order to determine an optimal policy strategy. The Turistika© model is regularly updated and optimised using the most recent data. The model can also be used for similar small, clearly defined local economies.
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