, with its 2. 4 billion active users, has seen a rise in travel - related hashtags and influencer collaborations. # travel was one of the most popular hashtags on the platform. statista reported that by the end of 2020, around 40 percent of worldwide travellers were under the age of 33, emphasising the importance of platforms like instagram and tiktok in sharing experiences. recommendation : these statistics highlight the transition from traditional travel planning methods to a more digital, integrated, and interconnected approach. therefore, we must embrace technology. an online presence is no longer optional, it ’ s a matter of survival! engage with visitors through social media, offer online bookings, and encourage online reviews. 5. building resilience amidst global challenges with the unforeseen challenges like the covid pandemic, the data indicates that the industry is somewhat resilient, as we were able to rebound relatively quickly. however, it did take two years and we are not yet back to peak levels, and so we need to further strengthen that resilience. arrivals in 2022 : distance from 2019 levels cuba montserrat bermuda percentage above 2019 arrivals cayman islands british virgin islands dominica st. vincent & the grenadines belize anguilla barbados bahamas grenada saint lucia suriname antigua & barbuda cancun recommendation : develop contingency plans based on data - driven scenarios. this will ensure that we are not just reactive, but proactive in our strategies. guyana jamaica aruba martinique curacao dominican republic percentage below 2019 arrivals puerto rico st. maarten us virgin islands - 80 % - 60 % - 40 % - 20 % 0 % 20 % 40 % 60 % 80 % 6. finally, data analytics requires data! as we chart a course towards an even brighter future, the importance of comprehensive, accurate, and timely data is paramount. i urge each one of you to prioritise and enhance the quality and breadth of the data you provide not only to the bhta but to the other data collection agencies. we ( the collective 3 | page agencies ) are poised to harness the power of data analytics to better understand, predict, and support the sustainability and growth of our industry. your collaboration in this endeavour not only aids in tailoring policies for our collective success, but also fortifies our commitment to maintaining barbados as a premier and sustainable tourist destination. together, through informed decisions, we can shape the trajectory of our cherished tourism

a new stage of developing a liquefied natural gas project as well as a gas condensate project. the outcome is high demand for gas exploration licenses and many new companies have commenced exploration work. the investment incentive and tax regimes are considered very competitive and favourable. the areas with great potential are in tourism specifically eco - tourism, agriculture, and small to medium sized manufacturing. these are the least developed sectors and the ones that badly need entrepreneurial initiatives and skills. these are the industries that in the long run will provide the back bone of economic growth and income generating opportunities and employment for the great majority of the population. in our thirty one years of independence we have had, fourteen years of stable low growth up to 1989, ten years of very difficult times up to 1999, following the bougainville crisis. this lost decade was characterized by gross mismanagement of the economy that resulted in an almost default on our foreign currency liabilities in 1994, which forced us to float the kina our national currency, the sandline affair in 1997 of hiring mercenaries to fight on bougainville, an almost second default in 1998 to 1999, the combined effect of a very severe drought, the asian financial crisis and the world economic slowdown exacerbated by continued gross mismanagement of the economy. we were very fortunate that in mid 1999, a new government was formed, that undertook some major reforms. it took four years to stabilize the economy, re - establish the confidence of the public, and realising that the constitutional changes introduced to the political system through the integrity of political parties act, will result in political stability. we are experiencing for the first time a government which lasted a full term of five years. these developments assisted by very high commodity prices of oil, copper and some of the agricultural exports like rubber, resulted in a very stable macroeconomic environment, of fiscal surpluses, low inflation, low interest rates, an appreciating exchange rate and fast accumulation of foreign exchange reserve. i am not going to bore you with numbers, but just as an indication, our foreign currency reserves increased from around us $ 300 million to us $ 1. 5 billion in three years, and the increase is continuing. inflation and interest rates are lower than in australia. economic activity as measured by gdp growth is around 4 percent in recent years. for a low income developing country it is very low. to ensure that the great majority of the population is benefiting from the mineral boom we have to