Many small and mid-sized businesses hoping to form links with the tourism industry were given the opportunity to showcase their wares and services during the fourth annual Hotel and Restaurant Trade show held on Thursday.
With the myriad of opportunities that tourism offers the country, many businesses are hoping to attract the major resorts to buy wholesale and retail from their businesses. The trade show was sponsored by the Bahamas Hotel Association (BHA), which also received substantial support from the Ministry of Tourism (MOT) for the event.
“I think [this trade show] is very critical towards our development when we look at revenue retention as a core component of the goals of The Ministry of Tourism to ensure that we maintain more of the revenue generated from tourism in The Bahamas, ” said John Carey, Parliamentary Secretary for the MOT.
“In ensuring that Bahamian businesses get an opportunity to market their services and goods to Bahamians as well as to the international owners of these hotel operations, it gives them that chance to generate revenue and keep that money here in The Bahamas.”
Mr Carey also said the trade show gave the diverse group of businesses that participated an opportunity for exposure.
“The first step to getting into the market is to deal with the promotional aspect, they have to be known. So, we at tourism are giving them the opportunity in partnering with the Bahamas Hotel Association to be known as a player,” said Mr Carey.
Thursday’s trade show at the Whyndham also gives these businesses an opportunity to maximise profitability according to Mr Carey. He said with competition from suppliers of cheaper products and services on a global scale, these businesses will have to strategies and come up with solutions that make their product more appealing to the consumer.
“Certainly when we look at duties and taxes, that’s a critical component because the argument has always been put forward that you can go to the United States, or you can go to Europe or China and purchase similar products in bulk at a cheaper price,” said Mr Carey. “This is something that the developers and owners of these goods and services would have to negotiate specifically with the Ministry of Finance and other relevant government agencies so that they can develop real business opportunities so economies of scale, the price that they market locally, is comparable or rather competitive with prices overseas.” One measure of the success of such trade shows would be how responsive hotels have been in patronising local businesses. Mr Carey said that hotels have been responsive and was evidenced by the fact that there was a large number of businesses participating in the trade show.
“The fact that the vendors are here at this exhibition sends a message to everyone in our country that it is beneficial and that the hoteliers are actually giving them a second look,” Mr Carey pointed out.
He noted further, “They would not be interested in being here if they did not think they were getting an opportunity or a realistic shot at supplying some of these goods and services to the hotels.”
Earle Bethel, President of the BHA said that the trade show has been very successful over the years, indicated by the fact that each year the event was getting bigger with more participants and a larger audience.
“We found that just in our meeting today we had 13 more allied members join this association and its in their best interest because when they become a part of this organisation, we’re the umbrella for all of the hotels, so therefore they can have access to all of our members,” said Mr Bethel.
One of the businesses that participated in the trade fair was Sun Tee, and Scott Farrington, a business associate of the company, said he felt his company’s participation was indeed beneficial. “We’re creating more awareness of what we are about and what it is we do and that in return will bring us more business,” he said.
By: BARRY WILLIAMS, The Nassau Guardian
