The IDB said that The Bahamas, Barbados, Belize, Guyana, Haiti, Jamaica, Suriname, and Trinidad and Tobago are among 15 countries in Latin and Central America that are participating in the IDB innovative challenge. The challenge is being launched through its innovation laboratory, IDB Lab, and in collaboration with the United Nations World Tourism Organization (UNWTO).
It said, to this end, it is launching the challenge to which both public and private sector organisations may apply until July 31.
The IDB tourism challenge aims to identify innovations in two categories. The development of the tourism labour force, which needs to acquire new digital skills for the recovery phase; and environmental sustainability, which includes implementing waste-management measures through circular economy models as well as climate-smart agricultural practices.”
Beyond Tourism: Innovation Challenge
The IDB said that the requests for non-reimbursable financing for technical assistance in tourism can go from US$250,000 to US$500,000. Not to mention in the case of loans, amounts can range from US$500,000 to US$2,000,000. Additionally, IDB said applicants will be expected to contribute at least 50 per cent of the project’s total budget. According to the UNWTO, the tourism sector is among the hardest hit by the novel coronavirus pandemic. Before the outbreak, tourism was one of the world’s largest economic sectors. Namely, supporting one in 10 jobs worldwide and accounting for 10.4 per cent of the global gross domestic product (GDP).
The tourism sector is highly resistant, according to IDB; in the past, it has also survived unexpected challenges through collaboration and innovation among stakeholders.
Feature Image Courtesy: Belize Food Tours
