Non-profit group submits tourism development initiative

The Marianas Economic Research and Development Foundation is a non-profit organization that was recently formed by a group of concerned citizens to encourage economic development through increased investment and workforce enhancement that will create long-term prosperity and improve the quality of life for the residents for many years in the future.

The Foundation has researched multiple areas of economic development and has determined that the most viable and fastest economic contribution to the community would be from tourism, based on the growing Chinese tourist market.

Information from numerous research institutes, universities, and government studies indicate that the Chinese outbound tourist numbers will reach between 200 million to 400 million annually by 2020. In 2013 the outbound tourist rate from China was the highest in all of history for any one nation at 97.3 million outbound travelers who spent an estimated $118 billion worldwide, as reported by the Chinese Tourism Academy. So the question is, what will draw this viable and valuable market to our community?

What the Foundation is proposing is to emulate what Singapore has recently done that attracted significant investments to build what is referred to as integrated resorts. This would include hotel accommodations, convention centers, and casino operations, along with other numerous tourist attractions and amenities with a minimum investment of $500 million. In 2010 two operations opened their doors in Singapore and last year they brought in $5.85 billion in gross revenues to the community and created an estimated 40,000 to 60,000 jobs.

“While we certainly do not expect to match this, it could still equate into the largest economic boom the CNMI has ever experienced and significantly improve the lives of many of our residents,” the Foundation said in a statement yesterday.

The Foundation’s goal is to ensure that the voice of the people is heard, which it would then use to guide it in all its efforts. The initiative includes a provision for dedicated funding. These funds will be earmarked for projects that will benefit the entire community.

“We recognize that this endeavor may have negative social impacts such as problem gambling. The CNMI already has legalized gambling and this is quite obviously an issue within our community today,” the statement says.

The Foundation’s members strongly believe that this issue should be addressed through dedicated funds to help residents that are enduring these troubles and are in need of assistance. The Foundation also recognizes that there are other issues that could be addressed by the dedicated funds. The Foundation will present a list of these issues to the public for their consideration and input.

“The final disposition of the dedicated funds will be determined by the voice and vote of the people so we will need their help,” the statement adds.

“No member of the Foundation is looking to be directly involved, in any way, with these casino operations for positions or profits. This is simply for all the residents.”

“Please contact us with any thoughts or concerns you may have at info@merdf.org.”(PR)