Ecoclub Member Blogs
Panama Papers and Tourism: "Teachable Moment" for the Industry?
Live Session on Tourism Financial Accountability and Economic Growth
With the aim of helping turn the Panama Papers scandal into a useful "teachable moment" for the tourism industry, TrainingAid is hosting a free and open live session on Thursday, April 14th featuring a presentation by Dr. Linda Ambrosie, the author of "Sun & Sea Tourism: Fantasy and Finance of the All-Inclusive Industry".
Dr. Ambrosie will share key insights into the impact of exploitative tax practices, combined with local corruption, throughout the global tourism value chain, and offer recommendations for tourism industry stakeholders - including multinational enterprises, tourism managers, destination organizations and policy-makers - on how to advocate for solutions and positive change.
Register for free to join the live session and to receive access to the video replay.
Tourism Finance: Why Accountability Matters to All
As the Panama Papers scandal has brought the world’s attention to the scope and implications of global corruption and tax evasion, we’re reminded of the importance of host destinations’ ability to collect and effectively - and ethically - manage tax revenues from multinational tourism businesses in order to ensure the health of the industry.
According to new studies, however, only an estimated 20% of the package price arrives at the destination due to prevalent tax schemes by all-inclusive holiday companies, which deprives the host destinations of resources to ensure sustainability.
Fantasy and Finance of the All-Inclusive Industry
"Tightly integrated, multi-billion dollar global enterprises [of the Sun and Sea Tourism sector] mix with weak local institutions populated by local officials, some corrupt, vying for more investment to create a toxic cocktail with diminished social benefits as the hangover."
(Learn more about the book from Cambridge Scholars Publishing)