{"id":25503,"date":"2012-09-11T09:02:25","date_gmt":"2012-09-11T13:02:25","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=25503"},"modified":"2012-09-11T09:06:12","modified_gmt":"2012-09-11T13:06:12","slug":"over-reliance-on-tourism-limiting-growth","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2012\/09\/over-reliance-on-tourism-limiting-growth","title":{"rendered":"Over-Reliance On Tourism Limiting Growth"},"content":{"rendered":"
\"\"
Dr. Nikolaos Karagiannis<\/figcaption><\/figure>\n

Dr Nikolaos Karagiannis, an academic with Winston-Salem University\u2019s school of business and economics, and a long-standing student of the Bahamian economy, called for policymakers \u201cwho can think \u2018outside the box\u2019, with this nation too often sacrificing long-term vision for short-term gain.<\/p>\n

Together with Marel Katsivela, Zagros Madjd-Sadjadi and David Stewart, in their paper \u2018Exploring the Production Possibilities of the Bahamas’, Dr Karagiannis said the \u201clack of backward and forward linkages\u201d to the domestic Bahamian economy limited tourism\u2019s contribution to economic and social development.<\/p>\n

The authors added that changing global realities would force the Bahamas to re-engineer its economy and look for new growth areas, away from its reliance on tourism and financial services.<\/p>\n

While the Bahamas\u2019 average import tariff rate was 33 per cent, the quartet pointed out that most countries acceding to the WTO had rates of between 9-20 per cent.<\/p>\n

Other challenges, Dr Karagiannis and his colleagues said, were the pressures being placed upon the financial services industry by the G-20\/OECD, and the over-reliance on tourism.<\/p>\n

To combat this, and drive future growth, the four authors suggested the Bahamas focus on sectors such as renewable energy, the agro-industrial sector and making itself an \u201cinternational maritime crossroad\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bahamas must target new industries to generate economic growth, as tourism\u2019s \u201ccompartmentalisation\u201d is limiting benefits.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[12],"tags":[29,170],"class_list":["post-25503","post","type-post","status-publish","format-standard","hentry","category-headlines","tag-economy","tag-toruism"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/25503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=25503"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/25503\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=25503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=25503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=25503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}