The Grenada Tourism Authority (GTA) Board of Directors welcomes the recent press release by the Government of Grenada (GoG) highlighting the fact that the arbitration between Government and WRB is now settled, and work can now begin as it relates to the process of energy sector reform.
The GTA is well aware of the implications high energy costs can have on the overall success of the tourism industry. Compared with other destinations, the cost of energy in Grenada has a disproportionately high impact on room rates thus making the destination less competitive and more price inelastic. In order for us to market our nation as a world-class destination, our service providers have to be able to produce without being burdened with high energy costs. This in turn should lead to benefits like more profitable hotels; higher wages for workers; more money for training and reinvestment in upgrades and expansion.
We also welcome the potential thrust towards more renewable energy being a major objective of this reform. Grenada’s Pure Grenada brand is predicated on a clean and pristine environment and as such renewable energy should be a major part of this.
The renewable sector also has the potential to attract more “green tourists” who are increasingly more concerned about the carbon footprint being left by tourism. Finally, this should also enable Government to access more green climate funding which can lead to investment in major capital projects which impact tourism. We hope that our operators no matter size or niche, are able to take advantage of these new reforms to ensure long term sustainability.