Ultimately therefore, the sector requires a commitment to investing in people. The further implication is that such investment must take place at several levels simultaneously if the industry is to be optimally developed for the benefit of the wider society. It is hoped that in contemplating the many faces of tourism investment, this forum will place appropriate emphasis on this multi-dimensional aspect, as well as on its social costs and benefits. In recognition of the importance of tourism to the economies of this region, it is also necessary for governments to put in place user-friendly investment policies. These are indispensable if the region is to attract an adequate level of human and capital resources to be sustainable.
Capital is increasingly mobile.
In a very competitive environment, a requisite step is for regional governments to revisit impediments to the inflow of investment to the region. While there is a need to be selective, to ensure sustainability, and to choose wisely between mutually exclusive projects, investment growth in many of our economies is still impeded by a number of archaic regulations and restrictions. These seem to form a great barrier reef through which potential investors must navigate at their own risk. Among these are restrictive operating and trading licenses, outdated work permit regulations, and in come cases, obsolescent Alien Land Holding legislation. Further complications and uncertainties often arise from a paucity of articulate and definitive policy information.