SDN FORUM 2012 CREATING JOBS THROUGH SUPPORT FOR HISTORIC CITIES,

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1 SDN FORUM 2012 CREATING JOBS THROUGH SUPPORT FOR HISTORIC CITIES, J CULTURAL HERITAGE AND SUSTAINABLETOURISM Teaming Cultural Heritage and Sustainable Tourism: IFC/World Bank Tools and Resources Presented by Dr Hannah Messerli, Senior PSD Specialist, World Bank Ms Jennifer Bartlett, Tourism Sector Specialist, IFC 1 March 2012 IFC, Tourism & Jobs IFC s investments are driven by development goals; # jobs created is a typical tourism project target and indicator of success. Refining tourism project M&E, including measuring jobs, is an ongoing effort. Since 1956, IFC has invested over US$25bn in 250 hotel projects in > 80 countries (52% IDA). For the last 30 years it is estimated that around 237,000 jobs were created through IFC's tourism investments. HOW? 1

2 IFC & Tourism Development Vehicles IFC support is delivered via: Investment Services Investing in tourism (esp. hotels) where it is needed. Advisory Services Providing technical assistance - linked to investment where possible - to meet a market failure. Tourism development projects based around cultural heritage, that need help building the private sector, can leverage this support. IFC Investment Services for Tourism Investment Products Loans Equity Guarantees Recent examples AFR: Movenpick Accra, Ghana; Kigali Serena, Rwanda; TPS, Kenya LAC: Orient Express, Peru; Crane Resort, Barbados; Oasis, Haiti. SAR: Aman Bhutan; Universal, Maldives; Shangri-la, Maldives. ECA: Adriatic Hotels, Croatia; Dushanbe Serena, Tajikistan; Grand Hotel St. Petersburg, Russia MENA: Hotel Erbil Rotana, Iraq; Serena Pakistan; Zara, Jordan. EAP: UB Shangri-La, Mongolia; Thien Minh Group, Vietnam; KS Hotels, Lao PDR. 2

3 IFC Advisory Services for Tourism Advisory Business Lines Access to Finance Client: Financial Institutions Examples Non sector-specific projects, e.g. Risk Share Facility for Pacific FIs/SMEs Sustainable Business Advisory Client: Firms Public Private Partnership Client: Government Investment Climate* Client: Government *FPD LINK TO THE BANK SME Linkages (Buddhist Circuit), India SME support in tsunami recovery, Samoa Hilton Hotel - Sierre Leone Polynesian Blue Airlines - Samoa Tourism Investment Generation, e.g. Mozambique Anchor project, Rajasthan & Buddhist Circle, India. Regulatory Reform, e.g. Business registration, tourism licensing. The World Bank and Tourism Africa Region Approach: Sector review (primary and secondary research ) 2009) Transformation through Tourism: Harnessing Tourism for Growth and Improved Livelihoods Strategy (2011) Inclusion in CPSs and WPAs (2012 onward) Increasing demand from client countries for knowledge, technical assistance and lending operations Increasing collaboration with ENV, Urban, Trade and other regions 3

4 The World Bank and Tourism Sector support through: 1. Lending operations tourism dedicated tourism components or underlay tourism tangential 2. AAA Location/country specific (Malawi, Ethiopia) Topical (East Africa tourism demand study) Value chains (Cape Verde, Kenya) and Policy notes (Botswana, Namibia) The World Bank and Tourism Flagship Report Extensive, in-depth review of tourism development opportunities and constraints 24 case studies (global examples) of tourism development Based on significant primary research All available at 4

5 The World Bank and Tourism Sample Vehicles Matching grants for tourism businesses Support for SME development including handicrafts and creative arts Public Private Partnership cultural heritage asset preservation and management Product development incorporating heritage and historic cities Creating jobs through historic cities, cultural heritage and sustainable tourism IFC World Bank YOU SUCCESS! Hannah Messerli: Shaun Mann: Jennifer Bartlett: 5

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