Global Investment Promotion Best Practices : Winning Tourism Investment
Global investment promotion best practices (GIPB) assess how well national investment promotion intermediaries (IPIs) from 189 countries attract investment. The assessment is carried out by a review of IPI websites and mystery shopper inquiries tha...
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| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/12/20289134/global-investment-promotion-best-practices-winning-tourism-investment http://hdl.handle.net/10986/20766 |
| Summary: | Global investment promotion best
practices (GIPB) assess how well national investment
promotion intermediaries (IPIs) from 189 countries attract
investment. The assessment is carried out by a review of IPI
websites and mystery shopper inquiries that mirror the
process in which foreign investors decide the location of
the next projects. GIPB 2012 assessment results revealed
poor performance of a staggering majority of IPIs in
providing information and assistance to prospective
investors in the tourism sector (investment facilitation) -
a core function of IPIs worldwide. It should also be noted
that less than half of the IPIs that listed tourism as a
priority sector responded to the inquiry, which even then
was often with incomplete information. Based on
international best practices, this report recommends that
IPIs adopt five key steps in order to position their
agencies and locations more competitively for new tourism
investment: (1) develop more strategic, focused, and
relevant approaches to tourism investment promotion; (2)
improve overall capacity and skills to deliver effective
investment promotion with an emphasis on developing better
tourism-specific knowledge in-house, especially regarding
the market and the product; (3) present tourism information
succinctly, using up-to-date facts, and data as well as
testimonials from successful tourism companies; (4)
disseminate information to investors more effectively
through a mixture of existing and customized instruments
(such as websites, detailed sector profiles, and tailored
presentations); and (5) learn to leverage partnerships to
maximize results. This report provides practical
recommendations, tips, and examples aimed at helping IPIs
implement the five-step approach, and it highlights actual
cases from some of the best performers. |
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