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January 29/ 2003
- Press Releases
Central bank joins effort to strengthen tourism industrye

In a move to facilitate and simplify access to statistical information, the Tourism Ministry has signed an agreement with the Central Bank of Honduras to create the Tourism Satellite Account.

The agreement, signed by Tourism Minister Thierry de Pierrefeu and Central Bank President Maria Elena Mondragón, was made in response to an initiative launched by the countries of Central America through the Central American Tourism Council and the Puebla-Panama Plan to compile precise data that can be sued to calculate the true contribution of the tourism sector to the region’s economies. In cooperation with each country’s Tourism Ministry, the Central Banks will manage a National Accounts System in each of the participating countries. These will serve as a base from which to calculate overall contributions and analyze specific sectors.

The Central Bank of Honduras brings to the project years of experience managing similar data bases, such as the Gross Domestic Product Report and the Consumer Price Index. In cooperation with the Tourism Ministry it will lend its skills to the tourism sector, which is playing an increasingly important role in national economies worldwide.

As tourism expands across the globe, so too has our awareness of the sector’s potential. Not only is tourism an excellent generator of foreign revenue, it is also an excellent source of new jobs, aggregated value on investments, personal income for local families and tax revenues for the central government.

The Tourism Satellite Account will take the descriptive information on tourist flow and service conditions already complied by local tourism organizations and expand its scope with additional data in key areas. It will keep all information continually updated, guaranteeing its relevance and credibility.


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