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‘Tourism a big part of GDP growth’
The Marianas Visitors Authority is very pleased with the report of the Bureau of Economic Analysis last Monday that the CNMI’s gross domestic product grew by 28.6 percent in 2016.
This is huge deal for the CNMI and the islands’ tourism body, according to MVA executive director Chris Concepcion.
“The data released by the BEA shows…that tourism [is] roughly 72 percent of the entire economy of the CNMI,” he said.
“This matters tremendously because it shows the impact that the tourism industry has on our daily lives. We always say that tourism is everybody’s business, and we mean it,” he added.
MVA recognizes other sources that were factored in to achieve the GDP increase.
“The increase in arrivals is one. The increase in gaming revenue is another. The increase in construction spending is another. There is an overall positive vibe happening in the CNMI and we hope this continues for the foreseeable future,” he said.
According to Concepcion, the significant growth redounds to the benefit of people.
“The increase in GDP will help our people in their daily lives. This significant increase should spread throughout the community so it benefits everyone. For our part, we will use these figures to further the cause of the tourism industry. It’s imperative that the community support the tourism industry in whatever way they can because this is the only industry we have,” he said.
