Global Investment Promotion Best Practices : Winning Tourism Investment

Global investment promotion best practices (GIPB) assess how well national investment promotion intermediaries (IPIs) from 189 countries attract investment. The assessment is carried out by a review of IPI websites and mystery shopper inquiries that mirror the process in which foreign investors decide the location of the next projects. GIPB 2012 assessment results revealed poor performance of a staggering majority of IPIs in providing information and assistance to prospective investors in the tourism sector (investment facilitation) - a core function of IPIs worldwide. It should also be noted that less than half of the IPIs that listed tourism as a priority sector responded to the inquiry, which even then was often with incomplete information. Based on international best practices, this report recommends that IPIs adopt five key steps in order to position their agencies and locations more competitively for new tourism investment: (1) develop more strategic, focused, and relevant approaches to tourism investment promotion; (2) improve overall capacity and skills to deliver effective investment promotion with an emphasis on developing better tourism-specific knowledge in-house, especially regarding the market and the product; (3) present tourism information succinctly, using up-to-date facts, and data as well as testimonials from successful tourism companies; (4) disseminate information to investors more effectively through a mixture of existing and customized instruments (such as websites, detailed sector profiles, and tailored presentations); and (5) learn to leverage partnerships to maximize results. This report provides practical recommendations, tips, and examples aimed at helping IPIs implement the five-step approach, and it highlights actual cases from some of the best performers.

Bibliographic Details

Main Author:	World Bank Group
Language:	English en_US
Published:	Washington, DC 2013-12
Subjects:	ACCOUNTING, ACQUISITION, ACQUISITIONS, AFFILIATED ORGANIZATIONS, AIRLINES, ART, BARRIER, BARRIERS TO INVESTMENT, BEACHES, BOUTIQUE HOTEL, BROKER, BROKERS, BUSINESS CASE, BUSINESS DEVELOPMENT, BUSINESS ENVIRONMENTS, BUSINESS OPPORTUNITY, CAPITAL INVESTMENT, CAR RENTAL, CENTRAL BANK, CEO, CHAMBER OF COMMERCE, COMMUNICATION TECHNOLOGIES, COMPANY, COMPETITIVE BIDDING, COMPETITIVE MARKETS, CONFIDENTIALITY, CORPORATIONS, CREDIBILITY, CRUISE, CRUISE LINES, CULTURAL HERITAGE, DESTINATION MARKETING, DESTINATIONS, DEVELOPING ECONOMIES, DOMESTIC INVESTORS, DOMESTIC TOURISM, DUE DILIGENCE, ECONOMIC DEVELOPMENT, EMERGING ECONOMIES, EMERGING ECONOMY, ENVIRONMENTAL IMPACT, ENVIRONMENTAL SUSTAINABILITY, EQUIPMENT, EQUITY FUNDS, EQUITY INVESTMENT, EXPENDITURES, FINANCIAL INSTITUTIONS, FOREIGN CAPITAL, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTMENT, FOREIGN INVESTORS, FOREIGN OWNERSHIP, FOREIGN VISITORS, FRANCHISE, FUTURE GROWTH, GLOBAL INVESTMENT, GLOBALIZATION, GOVERNMENT POLICY, GROUP INVESTMENT, HOLDING, HOSPITALITY SECTOR, HOSPITALITY STANDARDS, HOST COMMUNITY, HOTEL, HOTEL CHAINS, HOTEL COMPANIES, HOTEL INDUSTRY, HOTEL OPERATORS, HUMAN DEVELOPMENT, INCOME, INDIVIDUAL COMPANIES, INDIVIDUAL INVESTOR, INDIVIDUAL INVESTORS, INDIVIDUALS, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE PROJECTS, INFRASTRUCTURE REQUIREMENTS, INTERNATIONAL BEST PRACTICES, INTERNATIONAL HOTEL, INTERNATIONAL INVESTMENT, INTERNATIONAL INVESTMENT COMMUNITY, INTERNATIONAL INVESTORS, INVENTORIES, INVENTORY, INVESTMENT BANKS, INVESTMENT CLIMATE, INVESTMENT CODE, INVESTMENT DECISION, INVESTMENT DECISIONS, INVESTMENT FLOWS, INVESTMENT FUNCTION, INVESTMENT OPPORTUNITIES, INVESTMENT POLICY, INVESTMENT PROCESS, INVESTMENT PROGRAM, INVESTMENT PROJECTS, INVESTMENT PROMOTION, INVESTMENT STRATEGY, INVESTOR INFORMATION, INVESTORS TOURISM, JOB CREATION, LAGOONS, LARGE-SCALE TOURISM, LEVIES, LIMITED, LIVING STANDARDS, LOAN, LOAN GUARANTEES, LOCAL COMPANIES, LOCAL GOVERNMENTS, LOCAL HOTELS, LOCAL TOURISM, LONG-TERM FINANCE, MANAGEMENT CONTRACTS, MANUFACTURING INDUSTRIES, MARKET ACCESS, MARKET DATA, MARKET DEVELOPMENTS, MARKET ENTRY, MARKET INFORMATION, MATURE MARKETS, MATURITY, MERGERS, MULTILATERAL INVESTMENT GUARANTEE AGENCY, NATIONAL INVESTMENT, NATIONAL PARKS, NATIONAL TOURISM, NATURAL BEAUTY, NATURAL PARKS, NATURE RESERVES, NOTARIES, PARTNERSHIP, PORTFOLIO, PORTFOLIOS, POTENTIAL INVESTMENT, POTENTIAL INVESTOR, POTENTIAL INVESTORS, PRIVATE EQUITY, PRIVATE INVESTORS, PRIVATE SECTOR DEVELOPMENT, PROMOTIONAL MATERIALS, PUBLIC ASSETS, PURCHASING POWER, RARE SPECIES, REAL ESTATE, REAL ESTATE INVESTORS, REGIONAL TOURISM, REGULATORY BODIES, REGULATORY REFORM, REINVESTMENT, REMOTE AREAS, RESERVES, RESORT, RESORTS, SOCIETY, SPECIFIC INVESTMENT, SPONSOR, SPONSORS, STAKEHOLDER, STAKEHOLDERS, SUBSIDIARY, SUSTAINABILITY, TAX, TAX INCENTIVES, TENDERING, TENDERS, TOUR AGENCIES, TOUR OPERATORS, TOURISM, TOURISM ACTIVITY, TOURISM AGENCIES, TOURISM ASSETS, TOURISM ASSOCIATIONS, TOURISM ATTRACTIONS, TOURISM COMPANIES, TOURISM COUNCIL, TOURISM DEMAND, TOURISM DESTINATION, TOURISM DEVELOPMENT, TOURISM DEVELOPMENT STRATEGY, TOURISM INDUSTRY, TOURISM INFORMATION, TOURISM INVESTMENT, TOURISM INVESTMENT PROMOTION, TOURISM INVESTMENTS, TOURISM INVESTORS, TOURISM MARKET, TOURISM OPERATOR, TOURISM OPERATORS, TOURISM PROJECT, TOURISM PROJECTS, TOURISM SECTOR, TOURIST, TOURIST ACCESS, TOURIST ARRIVALS, TOURIST ATTRACTIONS, TOURIST DESTINATION, TOURISTS, TRACK RECORD, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TRAVEL AGENCY, TRAVELERS, TURNOVER, UNION, VISITOR, VISITORS, WORLD DEVELOPMENT INDICATORS, WORLD TOURISM, WORLD TOURISM ORGANIZATION, WORLD TRAVEL MARKET,
Online Access:	http://documents.worldbank.org/curated/en/2013/12/20289134/global-investment-promotion-best-practices-winning-tourism-investment https://hdl.handle.net/10986/20766
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