By D’Arcy Rahming
This summer I led a 27-person judo team to the US Junior Open in Florida. We did not go there to shop. We went to train and to try and take the national team to the next level. We knew we would get into training camps as well as multiple tournaments. It was a huge investment for us and we were graciously assisted by the Government, the Bahamas Olympic Committee, parents and corporate sponsors. The overall cost of the trip was in excess of $27,000, and we were only one of over 20 countries at that event. That one event probably bought in at least a half a million dollars to the Florida economy.
One of the reasons junior athletes and their families come to a tournament is that they can get a lot of healthy competition. For example, in judo, given the choice between attending a tournament, where I can get three fights for my athletes, and a tournament with a training camp attached to it , I will attend the latter so I can get 30 or 40 fights. My Federation’s travel dollar goes a lot further. In effect, the skill and availability of the local athlete greatly enhances the sport tourism product.
The development of a local athletic structure is key to success for a sports tourist mecca. Local talent attracts people at the junior and non-professional level, filling hotel rooms and restaurants. The Bahamas can use Singapore as an example, since Singapore decided in 2007 to become a major sports hub for Asia. They continue to invest heavily in their local sports structure and infrastructure through a combination of government and corporate sponsorship.
By 2015, Singapore plans to add 20,000 jobs to their economy and $1.6 billion, largely through sports tourism and the hosting of sports events. Now keep in mind that Singapore does not have our athletic talent. In fact, it has won only four Olympic medals in its history - two silver and two bronze - despite having 5.3 million people. But what Singapore does have in place is the business mind behind sports. And they recognise the value of sport to their economy. That is why by 2009 the island nation hosted over 700 sporting events, which brought in a lot of money to its economy.
Singapore’s plan is simple, and one we can easily implement in our region if we follow their lead and adjust their best practices to our situation. It will involve a cultural shift in our attitude towards sports. One of the cornerstones of their success is to have a strong local sporting system, from the grassroots juniors to elite level seniors. We play some lip service to this but, as a culture, we are not there yet.
So where do the 20,000 jobs and opportunities for multiple businesses come in for Singapore? Various stakeholders, such as the government and Olympic Committee, create the standards, environment and venues. Private companies create the industry through sports clubs, event management, cultural entertainment and merchandising etc. And while the Bahamas may not be able to get 20,000 jobs by following the lead of Singapore, it certainly will create thousands.
• NB: D’Arcy Rahming holds an MBA from the Kellogg School of Management at Northwestern University. A lecturer at the College of the Bahamas, Mr Rahming has clients in general insurance, retail, the health and medical fields, sports federations and financial services. He is also treasurer of the Bahamas Olympic Committee. To receive his marketing newsletter FREE go to http://darcyrahming.com
Comments
banker 11 years ago
Singapore is unique in the fact that they were a languishing island economy much like the Bahamas with little in natural resources. They improved their human capital, opened themselves up to a business-friendly environment, and diversified their economy. It took 20 years, but they had the political, economic and personal will to enact the legislation to do it.
The politicos here do not have the testicular fortitude to introduce the legislation that it would take to turn this economy around. It would mean dollarization of the economy (having a business friendly convertible currency without Central Bank intervention and allowing Bahamians access to foreign business-building capital), introduction of ease of business legislation, killing the Bahamianisation policy (Singapore built their economy with foreigners while their education system prepared a cadre of professionals to take over, and it worked), and many other things big and small that would not sit well with the Bahamian public.
Since we have a closed monolithic economy, foreigners come in and use their capital to build business and repatriate the profits. The Central Bank doesn't allow Bahamians to freely import or export capital. And speaking of capital, our human capital is highly deficient in education and productivity. It is a long road ahead for the Bahamas.
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