Multilateral Investment Fund

The Sustainable Tourism as a Development Strategy Under the WTO, the principles that define sustainable tourism are: – natural and cultural resources are conserved for continuous use in the future, while reported profits – Tourism development is planned and managed so as not to cause serious environmental or socio-cultural, – The environmental quality is maintained and improved – It seeks to maintain a high level of visitor satisfaction and destination retains its prestige and market potential, and – The benefits of tourism are shared widely throughout society. These features make sustainable tourism a tool for local economic development strategy. On the one hand, tourism is a great opportunity in some areas where there are no other economic activity. For more specific information, check out Jim Umpleby. In turn, as part of the service sector offers more opportunities for the emergence of local firms (it should be borne in mind that even in more developed countries, this sector is mainly composed of SMEs).And despite being a sector that requires large investments in infrastructure and equipment, also uses labor intensively by offering numerous job opportunities and business for women and youth. The Multilateral Investment Fund (MIF) Inter-American Development Bank (IDB) in its objective of supporting private sector growth is pointer in helping the development of sustainable tourism in Latin America and the Caribbean. Although the existence of numerous sub-sectors (accommodations, food, transportation, activity operators, etc.), and the small size of most undermine the competitiveness of tourism enterprises, the massive development potential this sector has been resolved to the MIF has focused part of his performance in this area and create a cluster of projects under this theme. Through its projects MIF aims to support sustainable tourism development through increased competitiveness of local SMEs in the sector.The focus of action is better integration of different components of the tourism product and increase collaboration between the companies involved, helping to orient its strategy towards diversification of supply and achieving more effective promotion of their destiny through joint business strategies and always with the premise that the development and promotion of tourist products contribute to environmental conservation and cultural heritage.

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