DRAFT National Strategy for Export of Yachting Services

DRAFT National Strategy for Export of Yachting Services Prepared by Mark Hellyer August 2012

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STRATEGY PREPARED UNDER FUNDING FROM THE COMMONWEALTH SECRETARIAT ON BEHALF OF THE TRINIDAD AND TOBAGO COALITION OF SERVICES INDUSTRIES (TTCSI) Under the Project Strengthening the Competitiveness of Services in Trinidad & Tobago 505 Pinner Road, Harrow HA2 6EH, United Kingdom Tel: (+44) 020 8133 5055 Fax: (+44) 870 383 5011 office@ctaeconomic.com www.ctaeconomic.com The findings and opinions expressed in this report remain those of the consultancy team and do not necessarily reflect those of the Commonwealth Secretariat, Government of Trinidad and Tobago or TTCSI

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Table of Contents Introduction... 1 Objective...1 The Opportunity...1 Overall Approach...3 Strategic Goal 1: Sector Wide Awareness and Product Development... 4 Specific Targets...4 Awareness Raising and Promotion...4 Product Development...5 Strategic Goal 2: Regional Promotion... 6 Specific targets...6 Participation in Regional Events...6 Linkages/Promotion to Regional Marinas...8 Linking to Carnival...8 Strategic Goal 3: Promotion to Charter Companies... 10 Specific targets... 10 Advertising... 10 Direct Marketing to Charter Companies... 11 Participation in International events/shows... 11 Strategic Goal 4: Around the World Yachting Promotion... 13 Specific targets... 13 Advertising... 13 Strategic Alliances in South Africa... 14 Action plan... 15 Supervision and M&E... 15 Institutional Arrangements... 15 Outline Action Plan... 15

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National Strategy for Export of Yachting Services 1 Introduction Objective Services exports in Trinidad and Tobago currently amount to an estimated US$ 861 million, of which the vast majority (75%) comprises tourism and transport. Therefore, commercial services exports (including financial, ICT, BPO, medical, yachting, professional services, education, creative industries, fashion) amount to an estimated US$ 215 million. However, there is no official data on the exact composition of commercial services exports. Estimates based on industry surveys indicate that the export of yachting services in Trinidad and Tobago contributes US$ million to the economy [to be inserted following survey results] based on fees and spending of thousand [to be inserted by segment] marinas, repairs, storage and retail/tourism. The Opportunity The overall objective of the Strategy for Export of Yachting Services is to increase the number of yacht arrivals by 500 and attract 100 charters to base in Trinidad and Tobago contributing an additional US$12.5 million to services exports and the economy as a whole after 3 years and then growth of 10% per annum thereafter. NATIONAL CAPACITY At present, there are twelve marine/boatyard facilities and capacity for some 975 visiting yachts. In addition, there are approximately 150 repair contractors ranging in size from 1- person operations to businesses with twenty or more employees. Approximately 1,400 people are directly employed by the yachting industry. Yacht arrivals have been declining in recent years from over 1,500 in 2006 to only 948 in 2011. Some of this can be attributed to the global recession, some to the natural trend of movement by live- on yachts who tend to move to the next in location and some can be attributed to the recent changes in insurance policies regarding hurricane zone (many policies classify Trinidad as within the Hurricane Zone as it is only 67 NM from Grenada). Since Trinidad and Tobago is located in the very south of the Caribbean, it suffers from lower levels of arrivals and it is too far from base for most 1-2 week vacationing (cruise) yachters; therefore most visitors appear to be live- ons. As a result of declining arrivals, most service providers are facing difficult times at the moment including repairs, berthing, restaurants and chandlers. Currently there are also around 1,500 yachts based in Trinidad and Tobago, 500 of which are locally owned. However, there are no charter vessels based in Trinidad. Yachter s surveys indicate that the main attraction of Trinidad and Tobago is recreational including cultural tourism, eco forests and social life (having larger city and choice of shops, restaurants, bars and nightlife).

2 National Strategy for Export of Yachting Services 2 As well as boat building, Trinidad and Tobago has significant skills in sail making, internal fittings and is reportedly world renown for sourcing upholstering materials and there is a dedicated street full of shops in Port of Spain. Trinidad is also known for rigging, painting, fibreglass work and engine repair. [Insert data on what services are currently exported, % storage, repairs, chandlers, tours etc.. and where the yachters come from both in numbers and value use pie chart] GLOBAL MARKET The first Caribbean ship charter businesses were established in Antigua in the early 1960s, however, recently there has been growing competition for the yachting business from islands such as St Maarten, St Kitts, Martinique, the British Virgin Islands and Grenada. All of these countries have invested heavily in modern infrastructure and harbour facilities, along with associated industries. It s important to remember that yachts are extremely mobile and can easily move from one island to another in a matter of hours which makes the sector highly competitive. Table 1 Regional Comparisons Country Revenue US$ mn Estimated Number of Charter Boats Employed Antigua and Barbuda 24 7 838 British Virgin Islands 100 1000 + Na Dominica 5 0 Na Grenada 15 44 250 Martinique 45 750 + Na Saint Lucia 20 42 575 St. Maarten 62 148 483 St. Vincent and the Grenadines 12 85 152 Trinidad and Tobago 30 0 1400 Source: ECLAC, Caribbean Tourism Organisation (2004) VALUE PROPOSITION Average yacht tourists reportedly stay in Trinidad and Tobago for 98 days (compared to 21 days in Grenada, 11 days in Antigua, 15 days in St Lucia and 21 days in Grenada), but this is probably due to avoiding hurricane zone and/or repairs. Therefore, it is not necessary that any increase in arrivals will stay so long. Therefore, if it is estimated that increase in arrivals might stay for 50 days, with average 5 person spending US$42 pppd, each increase in yacht arrival could generate US$ 10,000. This excludes repairs which average US$ 30,000 per year on maintenance and a recent survey showed that average spend on repairs in Trinidad and Tobago is 15% of annual budget, or approximately US$ 5,000. Therefore, US$ 15,000 could be expected from each increase in yacht arrivals. There are currently no charter vessels based in Trinidad and Tobago. Contribution from charter vessels to the economy is estimated to be at least US$50,000 per year (maintenance, crew spending etc).

National Strategy for Export of Yachting Services 3 In addition, very few super yachts visit Trinidad and Tobago, let alone base themselves there. Even one or two of these would make a huge difference to revenues in the yachting sector Overall Approach Specific targets by end of 3 years: Yachts Contribution to the Economy Arrivals 500 US$ 7.5 million Charters Based in Trinidad 100 US$ 5 million In order to achieve these targets, a number of strategic goals and associated activities need to be undertaken: 1. Sector Wide Awareness and Product Development Awareness Raising and Promotion Product Development 2. Regional Promotion Participation in Regional Events Regional Advertising Linkages/Promotion to Regional Marinas Linking to Carnival 3. Promotion to Charter Companies Advertising Direct Marketing to Charter companies Participation in International Events/shows 4. Around the World Yachting Promotion Advertising Strategic Alliances in South Africa

4 National Strategy for Export of Yachting Services 4 Strategic Goal 1: Sector Wide Awareness and Product Development Specific Targets Cooperation, coordination and awareness raising within Trinidad and Tobago of the yachting opportunities are essential to realising the potential of the sector. Therefore, the initial strategic goal should focus on ensuring the sector can work together to promote their collective interests and develop the yachting product to attract new visitors. Although no quantitative target can be set as these activities will not directly generate arrivals, the activities under this goal are necessary prior to implementation of subsequent strategic goals that is, the target is a necessary condition: The specific target for Strategic Goal 1: Sector Wide Awareness and Promotion will be to bring together a broad range of services providers to the yachting sector to increase awareness and develop the yachting product. In order to achieve this target, a number of Activities are proposed è Awareness Raising and Promotion è Product Development Awareness Raising and Promotion AIMS To raise the profile of the sector nationally to obtain widespread support and commitment for implementation of the strategy OUTPUTS 1. National Awareness Campaign ACTIONS Task 1 Sector Research: In order to be able to adequately promote the sector, it is important that it is understood fully. There is very little data, information and analysis of exports from Trinidad and Tobago. Therefore, detailed research needs to be undertaken to provide basic analysis to feed into other elements of the awareness and marketing components of the strategy. Task 2 Development of National Awareness Plan: A national awareness campaign for the sector should be developed and revised periodically. The content will depend upon the resources available but would stress key statistics, benefits (actual and potential) of the sector to the economy and encourage political and policy prioritisation and attention.

National Strategy for Export of Yachting Services 5 Task 3 National Awareness Events: Activities based on the plan must be implemented and managed. The actual activities will depend both on the plan design and available resources but could include advertising, editorials, press conferences, awards, sponsorships, newsletters and social media. Product Development AIMS To increase the attractiveness of Trinidad and Tobago as a yachting destination Determine the comparative advantages of yachting sector, including linkages to other sectors OUTPUTS 1. Brochures and Directories of services 2. Improved Website ACTIONS Task 1 Analysis of Key Selling Points: There are a number of key selling points for yachting that need to be identified and elaborated, celebrating the differences between Trinidad and Tobago and the rest of the Caribbean. This could include cost comparisons (marine fuel costs, especially if subsidised or duty free,) skills and repair facilities not found elsewhere, storage facilities, capacity, access to city life, tourist destinations, access to medical facilities, carnival, retail and entertainment etc. Each claim needs to be substantiated with evidence. Task 2 Development of Itineraries: In order to promote Trinidad and Tobago as a yachting destination, a number of yachting itineraries should be developed (both on shore and off shore). These should be designed, developed and guidebooks prepared including photographs. These would be day, week and multiple weeks and although based around Trinidad and Tobago, could also involve other countries (Grenada, South American coast etc). The guidebooks should provide sufficient details of attractions and serve to highlight the mainstream and alternative scenes. Task 3 Brochure Development: To highlight the facilities and differences, a series of marketing brochures should be developed highlighting the skills and facilities available in Trinidad and Tobago. These could include yacht facilities and repair, retail, dining, refit, storage, tours and other traditional information (sales points of difference) but also link to other activities such as entertainment, medical facilities and medical tourism. Task 4 - Website Upgrading: As a mainstream marketing tool, YSATT and TDC websites need to be radically improved to sell the destination, highlighting and providing download links to the brochures and itineraries developed in previous tasks above. In addition, it needs to be dynamic to provide the vibrant appeal with daily/weekly updates of available activities (local scene) including theatre, local cinema, yachting events and festivals, cultural festivals, performances (soca, pan, Calypso and chutney), as well as Carnival schedules (providing opportunities and interests to attract visitors). Regular updates and maintenance of the site are essential.

6 National Strategy for Export of Yachting Services 6 Strategic Goal 2: Regional Promotion Specific Targets The main yachting services market available to Trinidad and Tobago is based on a region wide market comprising live- on, yachting tourists and seasonal visitors to the region. The result is a fixed size for the regional market each year with different destinations competing for the same market. Therefore, Trinidad and Tobago has to raise its regional profile to attract arrivals from this regional market. Whilst certain constraints will always prevail (geographic location), high visibility promotion of the attractions and differences with other locations is needed to differentiate Trinidad and Tobago as a destination. Therefore, the specific objective for attracting a greater share of the regional market is: The specific objective of Strategic Goal 2: Regional Promotion is to increase the number of foreign yachting arrivals to Trinidad and Tobago by 400 per year On this basis, 400 new arrivals per year from the regional market would generate additional income to the economy of an estimated US$ 15,000 each totalling US$ 6.0 million. In order to achieve this target, a number of activities are proposed: è Participation in Regional Events è Regional Advertising è Linkages/Promotion to Regional Marinas è Linking to Carnival Participation in Regional Events AIMS To increase awareness of Trinidad and Tobago as a yachting destination and yachting services OUTPUTS 1. Participation in at least 3 regional events ACTIONS Task 1 Identification of Best Events to Promote and Showcase Trinidad and Tobago: Research on participants and spectators at regattas and boat shows to determine where best to showcase Trinidad and Tobago s yachting services and destinations. A short list of events such as Caribbean International Boat show (Puerto Rico); Yacht Brokerage Showcase (BVI); Charter Boat Show (Antigua) will be examined and annual schedule of events to be agreed. Task 2 - Planning and Preparation for Participation: This would involve logistics, exhibition design (as appropriate), selection of participants, budget and financing, training of

National Strategy for Export of Yachting Services 7 participants and effective follow up systems. This phase would be expected to take at least 6 months to be effective. Participation could be subsidised if funds are available. Task 3 Participation in Selected Events: Key marketing messages regarding Trinidad and Tobago, either as a yachting destination and/or as a destination for yachting services will be determine by the overall marketing and promotion as defined in Strategic Goal 1 and matched to the events being attended. Task 4 Follow up: Although awareness is the main objective of these events, follow up with specific target participants such as charter companies will be required. This follow up must be efficient and professional to court new business. In addition, a general database of yachtsman could be developed to send out information on events and activities (yachting and on shore in Trinidad and Tobago the local scene to encourage interest in the destination). Regional Advertising AIMS To increase awareness of Trinidad and Tobago as a yachting destination and yachting services OUTPUTS 1. Selected Advertising 2. Editorials 3. Direct Advertising to Yachtsman ACTIONS Task 1 Development of Advertising Campaign: A broad based advertising campaign should be developed and refined each year. This would have several objectives based on different feature of the Trinidad and Tobago industry: Services and Maintenance Capabilities; Destination Offering (itineraries and differences with the rest of the Caribbean); Summer Retreat (outside the hurricane belt, real city life, good services, culture etc.) and; Event Attractions vibrant place for culture and happenings (different from any other place Diwali fireworks, theatre, local film, festivals etc.). Task 2 Identification and Selection of Marketing Channels: A review of the different available marketing channels such as internet sites (such as All At Sea); Magazines (such as Caribbean Compass) and; Event Magazines/Guidebooks such as those for the BVI Rolex Regatta. Each channel should be examined and assessed as to: reach (total numbers and where), cost and audience (type). Based on this, the channels to be used will be selected. Task 3 - Development and Placement of Advertising Materials: Based on the core messages, the advertising materials to be used including all types of media, for each of the key messages will be developed. Key advertisements will be placed according to resources and the advertising campaign plan. Task 4 - Development of Direct Advertising Media: Research into the media used by yachtsman should be undertaken such as regional radio, texts, email and social media (twitter/facebook etc). These can then be used to build appropriate databases of live on yachtsman in the Caribbean to advertise events (social, cultural, entertainment etc) of What s

8 National Strategy for Export of Yachting Services 8 On, or the Scene in Trinidad and Tobago. Sufficient advance information should be given to provide sufficient travel time. Linkages/Promotion to Regional Marinas AIMS To generate leads and interest from other regional service providers OUTPUTS 1. Advertising in target countries 2. Establishment of B2B linkages with business in other countries ACTIONS Task 1 Assess the Skills and Capabilities of Regional Service Providers: Undertake research to assess the skills, facilities and capabilities of yachting service providers in the immediate region such as Grenada, St Vincent, St Kitts, St Lucia and Barbados. These should be compared with services provided in Trinidad and Tobago based on range of services, quality, level of expertise, cost and availability of services. Task 2 - Develop a Linkages Promotion Plan: Based on this analysis, develop a list of comparative advantages and complementarities of services. Using this analysis and information on marinas collected during the research, develop a plan to establish linkages and advertising in regional marinas for the services offered in Trinidad. Task 3 - Advertising: For services where Trinidad and Tobago has a comparative advantage over service providers in the region (such as quality, accreditation and cost), an advertising campaign in competing country marina s will be used to encourage yachts to come to Trinidad and Tobago for repairs and other services. This might include advertising posters in Marinas, national directories and local magazines and information centres. The level of advertising will depend up resources available. Task 4 Developing Business Linkages: For all services, both competing and complimentary services, and a series of B2B linkages with companies in these markets will be sought for referrals (these could be to send on clients to Trinidad and/or fly in expertise as appropriate). As a result, the linkages could be with yachting and non- yachting service providers (new entrants to the markets who do not have skills of their local competitors, marina retailers/chandlers and restaurants). In order to foster such linkages, trade missions to target islands will be arranged involving: selection and training of participants; organisation and logistics as well as management and follow up of the mission itself. Linking to Carnival AIMS To increase the number of yachting visitors during Carnival OUTPUTS 1. Advertising and events for Carnival amongst yachting community 2. Increase yachting arrivals during Carnival

National Strategy for Export of Yachting Services 9 3. Organisation of a Yachting Mini Carnival Event ACTIONS Task 1 Develop a Carnival Plan: Work with the Carnival Commission to include the yachting community in the organisation and promotion of Carnival. This would include marketing, social and partying at the Marina s and on- board yachts and Carnival events being held within the Marina s (such as competitions or shows). Task 2 Promotion of Carnival to Caribbean Yachting Community: Full use of advertising (subject to resources) in yachting marketing channels such as magazines, internet and other media to promote Carnival for the yachting community. Task 3 Organisation of Special Yachting Events during Carnival: To encourage the integration of Carnival into Yachting Community, specially organised events (on- board or at the Marina) will be organised to attract increased yachting visitors. Task 4 Organisation and Promotion of a Mini Carnival Event for Yachters: To increase visitors and different times of the year, consideration should be given to the development, organisation and promotion of a yachting mini carnival based in Chaguaramas as a dedicated event specifically for the yachting community. Certain events and competitions could be held on board yachts. Full promotion and editorial press coverage would be used to make this an annual event (maybe in the summer for long term stays to attract more to summer outside the hurricane zone).

10 National Strategy for Export of Yachting Services 10 Strategic Goal 3: Promotion to Charter Companies Specific Targets Given the yachting facilities, skills, cost structures and non- yachting facilities (medical amongst others), Trinidad and Tobago has many advantages as a location base for charter vessels in the Caribbean. However, no Charter Yachts are based in Trinidad and Tobago so there is a need to promote the destination. Therefore, the specific objective for Yacht Charter Companies will be: The specific target for Strategic Goal Promotion to Charter Companies will be to have 100 charter yachts based in Trinidad and Tobago within 3 years. Based on 100 Charter Yachts located in Trinidad and Tobago spending US$ 50,000 per annum on maintenance and supplies, this would generate an additional US$ 5 million to the economy. In addition, spending by crew and visitors would increase this contribution further. In order to achieve this target, a number of Activities are proposed: è Advertising è Direct Marketing to Charter Companies è Participation in International Events/shows Advertising AIMS To increase awareness amongst owners (individuals and companies) of Trinidad and Tobago as a base for charter yachts OUTPUTS 1. Strategic advertisements in Charter magazines and websites ACTIONS Task 1 Prepare Dossier on Why Base in Trinidad and Tobago : Analyse the comparative advantages of Trinidad and Tobago as a location for charter yachts to base. This should address the advantages (costs, skills etc.) with linkages (medical facilities for crew and passengers) and dis- advantages (location and how to mitigate). This dossier will form the key messages of all the following promotional activities. Task 2 - Identify Marketing Channels: Undertake research on the different marketing channels to charter yacht owners including websites such as charterworld.com and DRAFT AUGUST 2012

National Strategy for Export of Yachting Services 11 magazines such as yachts magazine and boat international. A review of the subscription audience and their profile to ensure these target the expected audience is required. Task - 3 Prepare and Place Advertisements: Once the appropriate media has been identified, the advertisements in each media type are required, highlighting the key messages to be delivered. Then, subject to annual resources, advertisements should be placed in key media to generate awareness. Task - 4 Follow up System: A system to deal with press and company enquiries should be established to forward and follow up interest in locating in Trinidad and Tobago. Direct Marketing to Charter Companies AIMS Increase the number of charter yachts based in Trinidad and Tobago OUTPUTS 1. Inward Trade Mission from Charter companies/owners ACTIONS Task 1 Database of Charter boat Owners: A database of charter boat owners (corporate and individual) that are active in the Caribbean, including super- yachts needs to be researched, including the profile of the organisations, clients, company profile and names and contact details of decision makers. Task 2 - Initial Approach to Charters: Initial contact with owners of charters will be undertaken to gauge potential interest in basing in Trinidad and Tobago. This will comprise provision of information on facilities and reasons for locating in Trinidad and Tobago, follow up telephone calls and liaison and may include meetings at headquarters to create a shortlist of potential clients. Task 3 Organisation of Inward Trade Mission: For those target charter companies that are serious and interested in Trinidad and Tobago as a base for their vessels, organise an inward trade mission to showcase facilities (yachting and non- yachting), as well as social events. To be effective these would have to be paid for. Task 4 Follow up: Most charters will not take a decision instantly so a system of follow up should be in place to discuss needs and as necessary, provide additional information effectively and efficiently. Participation in International Events/shows AIMS Increase awareness of Trinidad and Tobago as a charter base

12 National Strategy for Export of Yachting Services 12 OUTPUTS 1. Participation in 2 International Events ACTIONS Task 1 Identification of Best Events to Promote and Showcase Trinidad and Tobago: Research on participants and exhibitors at international charter exhibitions and shows to determine the best outlets such as Yacht Brokerage Showcase (BVI); Charter Boat Show (Antigua) and others outside the region. Based on this 2 events will be selected to participate in, either as visitor or exhibitor as appropriate. Task 2 - Planning and Preparation for Participation: This would involve logistics, exhibition design (as appropriate), selection of participants, budget and financing, training of participants and effective follow up systems. This phase would be expected to take at least 6 months to be effective. Participation could be subsidised if funds are available. Task 3 Participation in Selected Events: Key marketing messages regarding Trinidad and Tobago as a base for charter yachts will form the basis of participation. Task 4 Follow up: Follow up with specific charter companies will be required. This follow up must be efficient and professional to court new business.

National Strategy for Export of Yachting Services 13 Strategic Goal 4: Around the World Yachting Promotion Specific Targets Given the recent piracy trend around the horn of Africa, many more around the world yachters are sailing around the Cape into the Atlantic and coming up from the South Atlantic to the Caribbean. With piracy a problem in the northern Indian Ocean many yachts circumnavigating the globe are choosing to sail via the Cape of Good Hope rather than through the Suez canal. 1 Therefore, Trinidad and Tobago is potentially the first stop in the Caribbean for these travellers. Therefore, the specific objective for attracting Around the World Yachters will be: The specific target for Strategic Goal 4: Around the World Yachting Promotion is to increase the number of foreign yachting arrivals to Trinidad and Tobago by 100 per year after 3 years. On this basis, 100 new arrivals from the regional market per year would generate additional income to the economy of an estimated US$ 15,000 each totalling US$ 1.5 million. In order to achieve this target, a number of Activities are proposed: è Advertising è Strategic Alliances in South Africa Advertising AIMS Increase awareness of Trinidad to the specific segment of around the world yachters. OUTPUTS 1. Advertisements placed in specific international yachting magazines 2. Advertising in South Africa ACTIONS Task 1 - Development of an Annual Publicity Plan: Each year, an annual publicity plan should be drawn up. Research on the various marketing channels that specifically target around the world yachters will be undertaken. Trinidad and Tobago s publicity plan should include advertising on the internet, in magazines and directories globally and in South Africa. Task 2 Development of Publicity Materials: Once the publicity plan is in place and selected media identified, appropriate materials will need to be designed and produced. 1 World Marine Guide (2012) http://www.worldmarineguide.com/country/south- africa

14 National Strategy for Export of Yachting Services 14 Task 3 Implementation and Enquiry Processing: It is vital that during the implementation of the publicity campaign, adequate communication resources are available to process incoming enquiries this needs to be an informative and provide adequate information to promote Trinidad and Tobago and also to pass on to appropriate services providers as necessary. Strategic Alliances in South Africa AIMS Build strategic alliances in South Africa to encourage recommendations for stopping in Trinidad and Tobago cross Atlantic OUTPUTS 1. Trade Mission to South Africa ACTIONS Task 1 Identify Marinas and Businesses in South Africa: Undertake research to identify marinas and yachting businesses in South Africa with profiles that could potentially generate relationships and cooperation (including marina authorities). Based on this research, a list of target marinas and individual companies will be created including False Bay YC and Marina, Royal Alfred Marina, Victoria and Alfred Marina and Yachtport SA Marina. Task 2 Organisation of Mission: Will include development of the programme of visits and events to organisations in South Africa. Will also involve company specific invitations to events to ensure specific relationships are maintained. Logistics for travel and events will also be arranged. Task 3 Selection of Participants: advertising of the planned mission to local firms and selection of participants if oversubscribed. Depending on resources, costs could be free, subsidised or wholly paid for. In addition, training and briefing of participants would be undertaken. Task 4 Event and Follow up: Management of the mission, including logistics and follow up evaluation and support with continuing relationship building for participants. In addition reports and seminars to disseminate key finding of the mission. Consideration could be given to establishing a small, but high profile information office in one of the South African Marinas.

National Strategy for Export of Yachting Services 15 Action plan Supervision and M&E This strategy will require cooperation and actions by a broad range of stakeholders within the public and private sectors. Therefore, there is a real need for a strong supervisory and facilitation role for an APEX organisation that can coordinate and oversee implementation. This role should be taken on by the Trinidad and Tobago Coalition of Services Industries (TTCSI) who will not only act as the driver of the strategy, but take responsibility for monitoring and evaluation. This will first require undertaking baseline studies of key indicators and publishing progress of the strategy (with appropriate media coverage to support the sector). This is a crucial role and TTCSI will need to be given appropriate resources to monitor and facilitate implementation in the national interest, and will also need to develop appropriate skills for the task. Institutional Arrangements Implementation of this strategy will be undertaken by a broad range of stakeholders in both the public and private sectors. There are a number of options for implementation and lead agencies/organisations depending upon willingness, commitment and resources. During the initial discussion of this strategy amongst stakeholders, the exact modalities will be discussed and agreed, as well as completion of the Outline Action Plan (below). Outline Action Plan The following Action Plan provides an indicative schedule of activities to implement the strategy. However, the institutions involved in implementation should review and revise the Action Plan on an on- going basis to ensure its accuracy, relevance and reflect the changing dynamics of Trinidad and Tobago as well as the global market. Stakeholders will first need to discuss and complete the Outline, assigning Lead Agencies, resources and budgets. Once these have been agreed, each component of the Action Plan must be elaborated into a individual workplan. The Outline Action Plan and individual Workplans will need to be revised periodically to take account of available resources, changing politics, commitment of the sector, international market dynamics and lessons from previous activities.

16 National Strategy for Export of Yachting Services 16 Overall objective Outputs Increase of US$12.5 million to services exports and the economy as a whole after 3 years Outline Action Plan To be Completed by Stakeholders Result Indicators Increase in the number of yacht arrivals by 500 and attract 100 charters to base in Trinidad and Tobago Lead Agency Strategic Goal 1: Sector Wide Awareness and Product Development Specific Target Duration (startfinish months) TTCSI Jan 2013 Dec 2015 Internal Resources To bring together a broad range of services providers to the yachting sector to increase awareness and develop the yachting product Activity 1.1 Awareness Raising and Promotion Task 1.1.1 Sector Research Task 1.1.2 Development of national awareness plan Task 1.1.3 National awareness events 1. National Awareness Campaign Activity 1.2 Product Development Task 1.2.1 Analysis of Key Selling Points Task 1.2.2 Development of Itineraries Task 1.2.3 Brochure development Task 1.2.4 Website Upgrading 1. Brochures and Directories of services 2. Improved Website Strategic Goal 2: Regional Promotion Budget Allocation Specific Target US$ 6.0 million To increase the number of foreign yachting arrivals to Trinidad and Tobago by 400 per year Activity 2.1 Participation in Regional Events Task 2.1.1 Identification of best events to promote and showcase Trinidad and Tobago Task 2.1.2 Planning and preparation for Participation Task 2.1.3 Participation in selected Events Task 2.1.4 Follow up 1. Participation in at least 3 regional events Activity 2.2 Regional Advertising Task 2.2.1 Development of Advertising Campaign 1.Selected Advertising 2. Editorials

National Strategy for Export of Yachting Services 17 Task 2.2.2 Identification and selection of marketing Channels Task 2.2.3 Development and placement of Advertising Materials Task 2.2.4 Development of direct advertising media Outputs 3. Direct Advertising to Yachtsman Result Indicators Activity 2.3 Linkages/Promotion to Regional Marinas Task 2.3.1 Assess the skills and capabilities of regional service providers Task 2.3.2 Develop a Linkages Promotion Plan Task 2.3.3 Advertising Task 2.3.4 Developing Business Linkages 1. Advertising in target countries Activity 2.4 Linking to Carnival Task 2.4.1 Develop a Carnival Plan Task 2.4.2 Promotion of Carnival to Caribbean Yachting Community Task 2.4.3 Organisation of Special Yachting Events during Carnival Task 2.4.4 Organisation and Promotion of a Mini Carnival Event for Yachters 2. Establishment of B2B linkages with business in other countries 1. Advertising and events for Carnival amongst yachting community 2. Increase yachting arrivals during Carnival 3. Organisation of a Yachting Mini Carnival Event Strategic Goal 3: Promotion to Charter Companies Lead Agency Duration (startfinish months) Internal Resources Budget Allocation Specific Target US$ 5.0 m To have 100 charter yachts based in Trinidad and Tobago within 3 years Activity 3.1 Advertising Task 3.1.1 Prepare dossier on why base in Trinidad and Tobago Task 3.1.2 Identify Marketing Channels Task 3.1.3 Prepare and place 1. Strategic Advertisements in Charter magazines and websites

18 National Strategy for Export of Yachting Services 18 advertisements Task 3.1.4 Follow up System Outputs Result Indicators Activity 3.2 Direct Marketing to Charter Companies Task 3.2.1 Database of Charter boat Owners Task 3.2.2 Initial Approach to Charters Task 3.2.3 Organisation of Inward Trade Mission Task 3.2.4 Follow up 1.Inward Trade Mission from Charter companies/owners Activity 3.3 Participation in International events/shows Task 3.3.1 Identification of best events to promote and showcase Trinidad and Tobago Task 3.3.2 Planning and preparation for Participation Task 3.3.3 Participation in selected Events Task 3.3.4 Follow up 1. Participation in 2 International Events Strategic Goal 4: Around the World Yachting Promotion Lead Agency Duration (startfinish months) Internal Resources Budget Allocation Specific Target US$ 1.5 m To increase the number of foreign yachting arrivals to Trinidad and Tobago by 100 per year after 3 years Activity 3.1 Advertising Task 3.1.1 Development of an annual publicity plan Task 3.1.2 Development of publicity materials Task 3.1.3 Implementation and enquiry processing 1. Advertisements placed in specific international yachting magazines 2. Advertising in South Africa Activity 3.2 Strategic Alliances in South Africa Task 3.2.1 Identify Marinas and Businesses in South Africa Task 3.2.2 Organisation of Mission Task 3.2.3 Selection of participants Task 3.2.4 Event 1. Trade Mission to South Africa

National Strategy for Export of Yachting Services 19 and Follow up Outputs Result Indicators Lead Agency Duration (startfinish months) Internal Resources Budget Allocation