annual industry presentation action plan 2007-2008...belize tourism board action plan 2007 - 2008...

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Annual Industry Presentation

Action Plan2007-2008

Make the choice, Play a role...Enhance the Tourism Experience!

Belize Tourism Board - P.O. Box 325, Belize City.Tel: 223-1913 / 223-1910 Fax: 223-1943

E-mail: [email protected] Web: www.travelbelize.org

�Belize Tourism Board Action Plan 2007 - 2008

Mission Statement 2

Director’s Message 39th Annual Industry Presentation April 25, 2007

Investment Summary 2007 – 2008 4 Revenue Breakdown 5 Investment Breakdown 6 Marketing Breakdown 7 Product Development Breakdown 7

Investment & Action Plan 2007 – 2008 Marketing & Public Relations 8 Product Development 21

Audited Financial Statements & Report Year Ended March 31, 2006 25

CONTENTS

� Belize Tourism Board Action Plan 2007 - 2008

MISSION STATEMENT

The Belize Tourism Board

is a statutory Board

within the Ministry of Tourism

which represents a strategic partnership between

government and the private sector

to develop, market and implement tourism programs that will fulfill

the emerging needs of our local industries and the

international tourism marketplace

for the benefit of Belize and Belizeans.


DIRECTOR’S MESSAGE9th ANNUAL INDUSTRY PRESENTATION

Dear Industry Partners,

As we do on an annual basis, the Belize Tourism Board management and staff is pleased to present in this document our national tourism work plan for the fiscal year 2007 – 2008.

We feel that the end of the fiscal year is a good time for us to reflect collectively on the industry’s growth and evaluate constructively the challenges faced over the previous one-year period. At the same time, it is the start of a new year - the perfect opportunity to look ahead, and capitalize on the industry’s potential.

Clearly, tourism is one of our country’s fastest growing economic sectors, creating jobs and income-generating opportunities for Belizeans countrywide. In fact, compared to any other single industry, tourism creates the most new jobs each year, and is the highest foreign-exchange earner. It is the industry that has been driving the construction boom and infrastructure growth across the country.

The next year promises to be even more rewarding as we implement new and innovative ways of maintaining a forward thrust in our growth and development efforts. With this said, the Belize Tourism Board reiterates its commitment to partnering with tourism stakeholders in order to expand the industry by building on current infrastructure, stimulating investment opportunities, facilitating training and human resources development, and embarking on marketing campaigns that increase tourism arrivals and tourism receipts.

On behalf of the BTB Board of Directors, Management and Staff, we thank you for your participation in this critical process as we come together to shape the future of Belize’s tourism industry. We look forward to a strong partnership in the year ahead.

With friendship,

Tracy PantonDirector of Tourism

� Belize Tourism Board Action Plan 2007 - 2008

Summary Investment forProposed Budget & Work Plan FY 2007 - 2008

Department BZD$ Investment BZD$ InvestmentFinance & Administration Staff Training $ 54,000.00 Staff Administration $ 102,800.00 Corporate Culture $ 7,500.00 Staff Benefits $ 9,000.00 Financial Management $ 20,000.00 Internal Controls $ 30,000.00 Capital Expenditure $ 300,000.00 General Operating Expenses $ 2,623,826.66 $ 3,147,126.66 Product Development Public Awareness $ 518,000.00 Research & Statistics $ 85,000.00 Legislation/Licensing $ 296,500.00 Product Enhancement $ 1,520,577.40 Industry Training $ 402,000.00 International Membership $ 297,240.00 Education, Sports & Culture $ 350,000.00 $ 3,469,317.40 Hotels Department Inspections $ 28,000.00 Tax Audits $ 32,000.00 Legislation & Policy $ 150,000.00 Administrative Initiatives $ 3,500.00 Staff Development $ 7,200.00 $ 220,700.00 Marketing & Public Relations Consumer & Tradeshows $ 167,000.00 Sales Presentations $ 52,000.00 Media Tour/TV Crews $ 90,000.00 Fam Trips $ 55,000.00 Brochure/Collateral Development $ 180,000.00 Reprinting of Brochures $ 145,000.00 Advertising Materials $ 300,000.00 European Marketing $ 352,000.00 Canadian Marketing $ 200,000.00 SICA $ 275,000.00 Central American Marketing $ 55,000.00 Wholesaler Support/Co-op $ 270,000.00 International PR Program $ 430,000.00 Press Media/Airfare $ 58,000.00 Print Advertising Campaign $ 2,065,000.00 Television Cooperative $ 160,000.00 Retirement Market $ 25,000.00 Internet Marketing $ 295,000.00 Local Advertising & PR $ 210,000.00 Airport PR Program $ 22,500.00 Event Marketing $ 400,000.00 Fulfillment House $ 600,000.00 800 Service $ 85,000.00 Donations $ 200,000.00 $ 6,691,500.00

Total Investment $ ��,5�8,6��.06

5Belize Tourism Board Action Plan 2007 - 2008

2007 – 2008 Revenue Breakdown

85%

11% 4%

Hotel Accom. Cruise Taxes Other

2007 - 2008 REVENUE BREAKDOWN

6 Belize Tourism Board Action Plan 2007 - 2008

2007 – 2008 Investment Breakdown

2%21%

27%

50%

Capital Admin P. Dev Mar. & PR

2007 - 2008 INVESTMENT BREAKDOWN


Marketing Initiatives

2%

37%

4%9%6%

42%

Trade Show AD CampaignInternet Mar. Fulfillment HouseEvent Marketing Other

MARKETING INITIATIVES

PRODUCT DEVELOPMENTFinance & Administration Initiatives

16%

48%

15%

7%

14%

Utilities SalariesBenefits SuppliesInterest & Commissions

8 Belize Tourism Board Action Plan 2007 - 2008

MARKETING & PUBLIC RELATIONS

Marketing Activity Investment in BZ$

Consumer & Tradeshows $ 167,000.00

Sales Presentations $ 52,000.00

Media Tour/TV Crews $ 90,000.00

Fam Trips $ 55,000.00

Brochure/Collateral Development $ 180,000.00

Reprinting of Brochures $ 145,000.00

Advertising Materials $ 300,000.00

European Marketing $ 352,000.00

Canadian Marketing $ 200,000.00

SICA $ 275,000.00

Central American Marketing $ 55,000.00

Wholesaler Support/Co-op $ 270,000.00

International PR Program $ 430,000.00

Press Media/Airfare $ 58,000.00

Print Advertising Campaign $ 2,065,000.00

Television Cooperative $ 160,000.00

Retirement Market $ 25,000.00

Internet Marketing $ 295,000.00

Local Advertising & PR $ 210,000.00

Airport PR Program $ 22,500.00

Event Marketing $ 400,000.00

Fulfillment House $ 600,000.00

800 Service $ 85,000.00

Donations $ 200,000.00

Total Investment for �00�-�008 $6,69�,500.00

Objectives:

• Increasing the awareness level of Belize as a tourist destination

• Increasing tourism arrivals to Belize

• Driving tourism business to Belize

• Educating the visitor about Belize

• Creating a brand personality for Belize

• Stimulating requests for information about Belize

9Belize Tourism Board Action Plan 2007 - 2008

CONSUMER & TRADE SHOWSTo participate in North American, European and regional tradeshows, thereby increasing Belize awareness, and developing and building stronger partnerships with consumers, travel trade, airlines and press. The market segments for Belize continue to be diving/marine, adventure/nature and an increased interest in the weddings & honeymoon market.

Activity Proposed Timetable Contact Person

TREX, Belize Citywww.trexca.com

April 25 - 27, 2007 Melecia

CTO Caribbean Media Marketplace, NYwww.onecaribbean.com

June 10 - 15, 2007 Michelle

Annual Bridal Extravanganza Show, Houstonwww.bridalextravaganzashow.com July 14 - 5, 2007 Melecia

Travelmart LatinAmerica, Columbiawww.travelmartlatinamerica.com Sept. 12 - 14, 2007 Gale

FCCA, Cancunwww.f-cca.com Oct. 8 - 12, 2007 Gale

Cancun Travel Mart,www.cancuntravelmart.com Oct. 10 - 12, 2007 Lorena

DEMA, Orlando, FLwww.dema.org Oct. 31 - Nov. 3, 2007 Melecia

World Travel Market, London www.wtmlondon.com Nov. 12 - 15, 2007 Michelle

Caribbean Marketplacewww.caribbeanmarketplace.com Jan. 13 - 15, 2008 Gale

LA Times Travel Show, California http://www.latimes.com/extras/travelshow/ Feb. 9 - 10, 2008 Lorena

Our World Underwater, Chicagowww.ourworldunderwater.com Feb. 9 - 11, 2008 Melecia

NY Times Show, New Yorkwww.nytimes.com/travelshow Feb. 22 - 24, 2008 Michelle

Beneath the Sea, New Jerseywww.beneaththesea.org March 21 - 23, 2008 Gale

Outdoor Adventure Show: Calgary, Canadawww.outdooradventureshow.ca/calgary/index.html March 29 - 20, 2008 Lorena

�0 Belize Tourism Board Action Plan 2007 - 2008

Sales PresentationTo introduce Belize, and educate the travel trade, press and airline agents on how to sell Belize as a travel destination.

Activity ProposedTimetable

Key Contact Person

Travel Agent Presentation (US City) May Gale

Travel Agent Presentation (US City ) June Melecia

Travel Agent Presentation (US City) August

MichelleAirline Agent Presentation Fiscal Year

Regional Presentation to the Trade in Central America(El Salvador, Honduras, Guatemala)

July

Trade Support Presentation (Canada) Fiscal Year Shakira

Media Tour/Television CrewTo encourage travel writers to become familiar with the diversity of Belize’s product by supporting visits to various destinations, and to encourage television crews to film in Belize and increase country awareness.

Activity (Media Tours) Proposed Timetable

Key Contact Person

Media Tour 1 AprilMelecia

Media Tour 2 August

Media Tour 3 October Gale

Support for Key Media ContactsFiscal Year

Michelle

Special Public Relations Opportunity Melecia

Activity (Television Crews)

North American TV Crews July Gale

European TV Crews June Michelle

Central American/Caribbean TV Crews Fiscal Year Melecia

��Belize Tourism Board Action Plan 2007 - 2008

Fam TripTo encourage familiarization with the diversity of Belize by allowing the travel trade and airline agents to experience the product first-hand.

Activity (Wholesaler/Travel Agent/Airline Agent/ Other Fams)

ProposedTimetable

Key Contact Person

Travel Agent Fam (US Based – 2) July

Gale/Melecia

Travel Agent Fam (Central America Based) May

Travel Agent Fam (European Based) June

Airline Agent Fam

Fiscal YearAirline Agent Fam

Support to key special interest groups

Brochure/Collateral DevelopmentTo develop professional and informative brochures and collateral material that will portray a positive Belize image, and encourage travel to Belize.


Key Contact Person

Destination Belize 2008 (35,000 copies) August Shakira

Weddings Brochure June/July Melecia

Dive Brochure July/August Gale

Reprinting of Brochure/Collateral MaterialTo ensure that an appropriate supply of brochures and collateral materials are always available to avoid a fulfillment disaster.


Key Contact Person

Reprinting of Visitor’s Guide

June LorraineReprinting of City/Country Map

Image Brochures

�� Belize Tourism Board Action Plan 2007 - 2008

Advertising MaterialTo maintain a stock of advertising material portraying the image, and including the logo, in support of the general advertising effort, and for use at tradeshows.


Key Contact Person

Belize Pins MayLorraine

Copies of Promotional Belize CD June

BTB/Belize Souvenirs September Melecia

Belize Folders – 10,000 copies

Fiscal Year

LorraineBelize Posters – 5,000 copies

Media promotional materials Melecia

Belize country presentation Shakira

European MarketingTo develop a strategic marketing and public relations plan for the European market.


Key Contact Person

CTO UK Chapter Membership feesFiscal Year

Shakira

CTO UK Marketing Activities

Attend European Tradeshows w/UK Tour Operators, Private Sector, WTM’s attendance, wholesaler recruitment

Aug- Nov ‘07

Advertising/Co-op Opportunities (Support European Wholesalers – UK & LATA membership)

Fiscal YearLATA Membership Fees

CATA supported initiatives

European Brochure (UK, Spanish)


Canadian MarketingTo develop a marketing and public relations plan geared at maintaining and growing interest in the Canadian market.

Activity Timetable Key Contact Person

Media Placement As per schedule Shakira

Sales Presentations: wholesalers, travel agents

Fiscal Year

Marketing StaffTrade development: Targeted road shows

Fam Trips: airline vacation groups, travel agents Melecia

Wholesaler support Shakira

SICA Membership and ActivitiesTo capitalize on the marketing opportunities available (with emphasis in Europe) as a result of regional integration.


Key Contact Person

Meeting Participation

Fiscal Year ShakiraCATA Fees

Meeting Support for Presidency Pro-Tempore

Central American MarketingTo capitalize and grow the existing interest in the Central American market and increase the awareness of Belize, particularly during the summer months.


Key Contact Person

Belize brochure for the Central American market

Fiscal Year ShakiraSales Calls/Blitzes

Private sector co-op: Advertisements in local newspapers


Wholesaler Support/CoopTo support wholesalers who promote and sell Belize by partnering with them, and offering financial support in their promotional efforts, and to support cooperative efforts with the private sector.


Key Contact Person

Activity (North American Wholesalers)

Fiscal Year

ShakiraCoop with the Airlines (In-flight and magazine promotions)

Co-op with Wholesalers (Brochure, etc.) Gale

Coop Travel Agent Presentations (2)Michelle

Wholesaler Fam

Wholesaler co-op marketing programs

Shakira

Activity (Private Sector Support)

Coop opportunities with Local Private Sector

Coop advertising in Print Publications

Tradeshow Support

Sales Blitz post tradeshow support

International Public Relations ProgramTo maintain an aggressive international press and travel trade awareness and education program.


Key Contact Person

Media Relations: Consumer & Trade

Fiscal Year Gale/Michelle

Print: Consumer & Trade

Photo Updates/Duplication

Press Kits Updates: Electronic Press Kit

Press Trip Coordination

Electronic Newsletter

Tradeshow Support

Promotion Coordination

Special Projects

Podcast/internet related activities

�5Belize Tourism Board Action Plan 2007 - 2008

Press/Media (airfare)To develop relationships with the travel press, and offer opportunities for first hand experience with the Belize tourism product.


Key Contact Person

Press Group 1 April

Michelle

Press Group 2 May

Press Group 3 (Canadian) August

Press Group 4 (Central America)

Fiscal Year

Key Media Contacts

Individual Travel Writers

Ask group to complete a pre-evaluation form

Follow up on all trips with post evaluation forms

Print Advertising CampaignTo increase Belize awareness by placing advertising in consumer and trade publications, and by participating in programs that will increase consumer and trade knowledge.


Key Contact Person

Coop Print Campaign with Airlines

Fiscal Year Shakira

Dive Training Co-op

Canadian Advertising Campaign

Consumer Travel Publications

Ad Production (Consumer)

Travel Trade Publications

Ad Production (Trade)

Benchmark Survey – Market Research

Television Programs

Television Co-operativeTo increase Belize’s visibility on selected television programs in the United States.


Key Contact Person

Divers Down TVFiscal Year Marketing

Fairway Gourmet


Retirement MarketTo increase the opportunities for Belize as a preferred retirement destination.


Key Contact Person

AARP, Boston, MA: www.aarp.org/events September Melecia

Brochure development & reprints Fiscal Year Product Dev.

Internet MarketingTo create a comprehensive Internet strategy for Belize.


Key Contact Person

Content Development/Website Hosting, Maintenance, and Updates Ongoing

Gale

www.travelbelize.org Ongoing/November

www.toucantrail.com Ongoing/September

www.belizeemergency.net Emergency Basis

www.visitcentroamerica.com

Ongoing

www.onecaribbean.com

www.doitcaribbean.com

www.belizetourism.org - Redesign

Public Relations

Editorial

Image Bank for press and ads

Online Advertising

Creative

AOL/CNN, Discovery, Weather Channel

National Geographic, Fodors

IExplore, Yahoo Travel, Rough Guides

Concierge, Weddings.com

Travelocity, Sportdiver, Scubadiving

Despegar, AWAY, GoNomad, Frommers

TAX


Local Advertising & Public RelationsTo increase local awareness of the marketing effort at the Belize Tourism Board, and to update the industry stakeholders.

Activity Proposed Timetable

Industry Outreach Programs

Ongoing

Summer Campaign

Local Public Relations

Industry Presentation

Local Print Ads

Participate in membership meetings of local industry associations/marketing meetings

Creation of educational audiovisuals/DVD

Airport PR ProgramTo serve the information needs of arriving tourists and create an atmosphere of welcome.

Activity Proposed Timetable

Develop and motivate staff (ongoing training)

Ongoing

Local Products Giveaway

Hotels Presentation

Large Welcome Picture Banner (10’ x 10’) – at Arrival Hall (Rental Space at PGIA)

Belize Picture banner (5 x 10) at Departure Hall (Rental Space at PGIA)

Three TV & VCRs at the Arrival + Departure Halls (videos of Belize)

Welcome activities for September Celebrations Second Quarter

Welcome activities for Garifuna Day

Third QuarterWelcome activities for Thanksgiving Day

Welcome activities for Caribbean Tourism Day

Welcome activities for Christmas/New Years

Welcome activities for Valentine’sFourth Quarter

Welcome activities for Easter


Event MarketingTo capitalize on local events by lending support, and promoting the events as tourist attractions.


Key Contact Person

La Ruta Maya March 2008

Michelle & ProductTREX Support (Belize City) April 2007

September Events September

Local Festivals (ie Costa Maya, etc.) Fiscal Year

Fulfillment HouseTo maintain an organized and efficient system of forwarding information packets to potential visitors.


Key Contact Person

Fulfillment HouseFiscal Year Lorraine/Karina

Out of Pocket Expenses

800 ServiceTo maintain an efficient information service, provided by knowledgeable and experienced Belizeans.


Key Contact Person

Forward leads to local and international operators/wholesalers

On going Karina/Lorraine

Respond to all email and written requests within 24 hours of receiving the request

Maintain an updated database of operators, press, wholesalers, hotels and travel agents

Maintain 800 line answered in Belize

DonationsTo support tourism related initiatives.


Key Contact Person

Tourism Related Initiatives Ongoing Melecia

�9Belize Tourism Board Action Plan 2007 - 2008

Belize Tourism Board U.S. Advertising Flow Chart

Fiscal Year 2007 - 2008

� 0 0 � � 0 0 8

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Magazine Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar # of ins.Consumer Magazines 61Total - Full Pages Archaeology (6x, 216,213) 2Audubon (6x, circ: 406,000) 2

Bridal Guide (6x, circ: 180,863) 2

Caribbean Travel & Life (9x, cir: 155,269) 2

Caribbean Travel & Life (9x 1/9 co-op) 9

Frommer’s Budget Travel (10x, circ: 600,000) 2

Islands (8x, circ: 200,000) 1/8 pg co-op 8

NY Times T-Travel (4x circ: 1,700,000) 2

National Geo Adventure (10x, circ: 575,000) Bonus 1/3 3

Natural History (10x, circ: 252,073) Bonus 4

Saltwater Fly Fishing (6x, circ: 18,525) 4

Scientific American (12x, circ: 580,071)* Bonus 4

Scuba Diving (11x, circ: 179,845) 2

Scuba Diving (11x, 1/6 pg co-op)) 5

Sierra (6x, circ: 704,035) 2

Smithsonian (12x, circ:1,000,000) 2

Sport Diver (10x, circ: 200,000) 2

Sport Diver (10x 1/6 pg co-op) 10

Travel & Leisure (12x; circ: 957,849) 1/3 page 3

Retirement

AARP (circ: 7,100,000 Age 60-69) 3

Consumer Ad Production

Trade Magazines - Total 9

Travel Trade (52x; circ: 40,000) jr pg 23rd 14th 11th 30th 13th 8th 10th 15th 11th 9

Trade Ad Production Total Media


Belize Tourism Board Canada Advertising Flow Chart

Fiscal Year 2007 - 2008

� 0 0 � � 0 0 8

1st Quarter 2nd Quarter 3rd Quarter Fourth Quarter Magazine Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar # of ins.

Magazines - Total

Dreamscapes - Globe & Mail(8x, circ: 114,000)*

PAGE PAGE PAGE PAGE 4

Canadian Travel Press(w, circ: 12,400)

April 30

June

18 Sep 3

Dec 10

JR

PAGE 5

Travelweek(w, circ: 14,000)

May 24

July 19

Aug 23

Nov 15

PAGE PAGE 6

Magazine Ad Production

15


PRODUCT DEVELOPMENTThe Product Development Department is charged with developing Belize as a premier tourist destination by designing and implementing meaningful programs that will improve the social, environmental and economic position of our country.

Product Development Activity Investment in BZ$

Public Awareness $ 518,000.00

Research & Statistics $ 85,000.00

Legislation/Licensing $ 296,500.00

Product Enhancement $ 1,520,577.40

Industry Training $ 402,000.00

International Membership $ 297,240.00

Education, Sports & Culture $ 350,000.00

Total Investment for the �00�-�008 $�,�69,��0.�0

Objectives:1. To continue to find create ways to educate and sensitize Belizean about the socio-economic impacts of tourism on Belize;

2. To continue to develop and expand the internal and external systems used to collect and analyze information and data;

3. To continue to strengthen tourism regulations and policing of the tourism industry;

4. To continue to improve the infrastructure and tourism product in Belize;

5. To continue to equip the tourism labour force with the skills and knowledge needed to provide first class service;

6. To continue to build the inter-sectorial linkages in other for tourism to have a bigger impact on Belize’s economy;

7. To continue to implement the policies and programs that will ensure sustainability of the industry and our environment;

8. To continue to develop programs geared towards assisting rural communities benefit from tourism;

9. To continue to improve the standards throughout the industry.


Public AwarenessTo sensitize and encourage the local public on the significance of tourism in Belize and create greater awareness with and participation from the Belizeans population.

Activity Time Frame Key Contact Person

Out Reach Program April-March

Keesha YoungLocal Media Program April-March

T.V. and Radio Ad Development May

International Related Programs On-going

Salaries of CentersSan Pedro, Cayo, PlacenciaDangriga, Hopkins, Caye Caulker

Quarterly Tessa Sacksick

Taste of Belize May Keesha Young & Tessa Sacksick

Tourism Week January Product Development Department

Management of Retirement Program March-April Cerafina Ross

National Tourism Awards JanuaryKeesha Young

Summer Internship Program June

Support for BHA Monthly Anthony Mahler

Notes:• The local outreach program will be geared towards the CETs, twelve primary schools, and the junior colleges throughout the country.

• This fiscal the media strategy will be focused on the theme “It is all about the experience”.

Research and StatisticsTo gather relevant tourism data to be used in tourism planning and strategy.


Yearly Report CD Rom/Print March

Raymond MossiahSourcing of Data

Expenditure Survey April-March

Data Collectors FSTV On-going

Notes:• The Expenditure Survey is a component of the VEMS which the BTB, CBB, and CSO have decided to conduct annually. The three agencies believe that the data collected will be more credible and accurate.

• The sourcing of data will be done primarily from the Central Statistics Office. Since they will now be a statutory board they will charge for information.


Legislation & LicensingTo provide a fair framework of operation that regulates the sectors of the tourism industry and guides the industry’s development.


Licensing CommitteesApril-March

Kenneth Williams

Material for Licenses April-March

Licensing/Legislation Work Shops for Associations Country-wide August-October

Tourism Police Unit April-March

Safety and Security Brochure and printing of CDs June

Safety Operations Team April-March

Notes:• The safety and security brochure will provide safety guidelines and procedures for tour operators and tour guides.

• The Safety Operations Team will travel the country, similar to Hotel Inspector. They will ensure that all tour operators are maintaining their equipment. This would also include support for the work in Mountain Pine Ridge.

Product EnhancementTo provide support that targets the development of new tourism infrastructural initiatives and maintaining existing ones, that contribute to the enhancement of the tourism product and experience.


Anti-litter Campaign & Beautification August

Anthony Mahler

Tourism Signs July

Community Based Projects On-going

Town Center Revitalization June

Center Improvements On-going

Belize City Tourism Development Fund Monthly Evan Tillett

Notes:• There are many issues that need to be addressed in the main destinations throughout the country. The following are recommended projects to be executed during this fiscal year: a. Lighting of sidewalk in Placencia b. Paving of section of road in Hopkins c. Development of the Split in Caye Caulker d. Acquire a fire pump for Seine Bight and Placencia (this could be gotten as donation) e. Docking facility in Bomba f. Completion of seafront on Seashore Drive

• The antilitter program will include a clean-up campaign of the major highways and the removal derelict vehicles from the tourist destinations.

• The Belize City Tourism Development Fund is an initiative by the Government of Belize to help improve the infrastructure of Belize City.

• Signs will continue to be installed in the southern part of Belize.


Industry TrainingTo provide training opportunities to students, entrepreneurs and stakeholders in an effort to strengthen the human resources tourism potential in Belize.


Specialized Flora and Fauna Tour Guide Program August

Angelica Luna

Tourism Security Work Shop On-going

Dive Training Ongoing

Culinary Training May

Training Center July

Scholarships August

IDB Micro Enterprise/Belize Project Ongoing Anthony Mahler

Small Business Management Training September

Angelica LunaTrain the Trainers Program June

Revision of Tour Guide Manual April

Frontline Trainings

Notes:• Presently there are no facilities to conduct skills training (bartending, house keeping, and food and beverage) in Belize. In assisting CET or UB in establishing this center, a training void will be filled in the tourism.

• There is a shortage of chefs in Belize and by providing training in Belize with Johnson and Wales and BHA we can fill that shortage. The Culinary Institute of America has also shown interest in providing scholarships for Belizeans to visit the school to participate in certificate programs.

• The Small Business Management Program is geared towards tour operators, guides and hotels across the country.

• In the past, the BTB conducted several train-the-trainers programs which certified Belizeans as Regional Hospitality Trainers. There is need to continue to build upon what we started a few years ago since the level of training declined over the last 2 years.

International MembershipTo build strategic alliances in the international marketplace.

Activity Time Frame Key Contact PersonSICA Membership

Fiscal Year Cerafina RossCTO Membership

FCCA Membership

Education, Sports & CultureTo provide support to building community initiatives

Activity Time Frame Key ContactCommunity support & initiatives Fiscal Year Anthony Mahler

2

BELIZE TOURISM BOARD

BALANCE SHEET

AS AT MARCH 31, 2006 AND 2005

ASSETS NOTES 2006 2005

CURRENT ASSETS

Cash and Bank balances 2 $1,136,662 $1,905,072

Accounts Receivable and Prepayments 3,13 548,715 351,371

Inventory 1 44,227 11,180

Total Current Assets 1,729,604 2,267,623

DEFERRED EXPENDITURES 15 772,809 1,030,412

PROPERTY, PLANT AND EQUIPMENT-NET 1,4 1,990,594 488,724

TOTAL ASSETS $4,493,007 $3,786,759

LIABILITIES AND SURPLUS

CURRENT LIABILITIES

Bank Overdrafts 7 $793,762 $162,316

Accounts Payable and Withholdings 1,5 667,870 578,467

Current Portion of Long Term debt 6 668,535 667,176

Total Current Liabilities 2,130,167 1,407,959

LONG TERM DEBT 6 421,092 1,091,240

Total Liabilities 2,551,259 2,499,199

SURPLUS 1,941,748 1,287,560

TOTAL LIABILITIES AND SURPLUS $4,493,007 $3,786,759

APPROVED ON BEHALF OF THE BOARD:

CHAIRPERSON

DIRECTOR OF TOURISM

DEPUTY DIRECTOR, FINANCE

The accompanying notes form an integral part of these financial statements.


STATEMENT OF OPERATIONS

YEARS ENDED MARCH 31, 2006 AND 2005

NOTES 2006 2005

REVENUE 17 $13,109,317 $8,114,423

GRANTS 1 88,479 134,200

TOTAL REVENUE 13,197,796 8,248,623

EXPENDITURES:

Infrastructure Development Project Expenditures 16 669,335 --

Operational Expenditures 18 2,691,865 2,513,382

Promotional and Media Plan Expenditures 19 5,047,840 5,361,940

Product Development Expenditures 20 3,332,015 2,803,875

Depreciation 238,130 113,152

Amortized Deferred Expenditures 15 257,603 257,603

Interest Expenditures 328,826 198,589

12,565,614 11,248,541

SURPLUS (DEFICIT) 632,182 -2,999,918

SURPLUS, BEGINNING OF THE YEAR 1,287,560 4,046,196

PRIOR PERIOD ADJUSTMENTS 8 22,006 241,282

SURPLUS, END OF YEAR $1,941,748 $1,287,560

3



STATEMENT OF CASH FLOWS


NOTES 2006 2005

CASH FLOWS USED BY OPERATING ACTIVITIES:

Surplus (deficit) $632,182 ($2,999,918)

Adjustment for:

Gain on disposal of Property, Plant and Equipment -5,778 --

Bad Debts 49,917 107,133

Prior Period Adjustments 22,006 231,497

Amortized Deferred Expenditures 257,603 257,603

Depreciation 238,130 113,152

Operating surplus (deficit) before working capital changes 1,194,060 -2,290,533

(Increase) Decrease in accounts receivable and prepayments -247,261 129,243

(Increase) Decrease in inventory -33,047 63,477

Increase (Decrease) in accounts payable 89,403 -11,439

NET CASH FLOWS (USED BY) FROM OPERATING ACTIVITIES 1,003,155 -2,109,252

CASH FLOWS USED BY INVESTING ACTIVITIES:

Purchase of Property, Plant and Equipment -1,749,222 -107,313

Proceeds from sale Property, Plant and Equipment 15,000 --

Increase in term deposit -32,405 -30,428

NET CASH FLOWS USED BY INVESTING ACTIVITIES: -1,766,627 -137,741

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from long term loan -- 2,000,000

Repayment of long term loan -668,789 -281,131

NET CASH FLOWS (USED BY) FROM FINANCING ACTIVITIES -668,789 1,718,869

NET DECREASE IN CASH -1,432,261 -528,124

CASH AND BANK BALANCES, BEGINNING OF YEAR 1,244,208 1,772,332

CASH AND BANK BALANCES, END OF YEAR (NET OF OVERDRAFT) ($188,053) $1,244,208

4



NOTES TO THE FINANCIAL STATEMENTS


1. STATUS AND SIGNIFICANT ACCOUNTING POLICIES

Status - Belize Tourism Board (BTB) is a body corporate having perpetual succession and a common seal.

It was established by the Belize Tourist Board Act 1990. The BTB was established to develop all aspects of

the tourism industry of Belize and to promote the efficiency of the tourism industry. The BTB is responsible

for industry's administration, including registration of hotels and collection of hotel taxes, as per the Belize

Tourism Board Act, Chapter 275 (Revised Edition 2000) of the Laws of Belize.

Significant Accounting Policies -

a. Basis of Presentation - The Board prepares its financial statements on a modified basis, whereby certain tax

revenues are recorded when received rather than when earned and certain expenses are recognized when

paid rather than when incurred. The financial statements have been prepared in Belize dollars.

b. Accounting Convention

These financial statements have been prepared under the historical cost convention.

c. Foreign Currency Transaction - Transaction in foreign currencies during the year are translated into Belize

dollars at the rates ruling on the dates of the transaction. Foreign currency balances outstanding at the balance

sheet date are translated at the rates ruling on that date. Gains or losses on ordinary foreign exchange

transaction are included in the results of operations.

d. Inventory - Inventory consist of items such as posters, maps, souvenirs, and videocassettes that are sold

to customers. These items are carried at cost determined by the first-in, first-out (FIFO) method.

e. Property, Plant and Equipment - Property, plant and equipment are carried at cost and, except in case of land,

are depreciated on the straight line basis using the following estimated useful lives:

Building 30 years

Computers and Equipment 5, 10 years

Furniture and Fixtures 10 years

Vehicles 4 years

Repairs and Maintenance are charged against operations. Improvements which extend the useful life of the

assets are capitalized. When fixed assets are disposed of by sale or are scrapped the cost and related

accumulated depreciation are removed from the accounting records and any resulting gains or loss is

reflected in the results of operations.

5




f. Cash and Cash Equivalent - For the purposes of the Statement of Cash Flows, the Board consider

cash in operating accounts, petty cash and certificates of deposits with maturity dates of 3 months or less.

As a result of the short-term maturity of these financial instruments their carrying value is approximately

equal to their fair market value.

g. Deposits- These represent amounts from customers which will be remitted to them in the

subsequent month or offset against future tax.

h. Grants- Grants are transferred to revenue upon receipts of funds except in cases whereby the amounts

are restricted and hence those amounts are transferred revenue at the point at which restrictive

clauses are met.

2. CASH AND BANK BALANCES

2006 2005

Cash on hand $2,440 $3,422

Cash at bank 603,269 1,403,102

Restricted term deposit 401,511 377,005

Term deposits 129,442 121,543

$1,136,662 $1,905,072

3. ACCOUNTS RECEIVABLE AND PREPAYMENTS

2006 2005

Accounts receivable $135,328 $117,724

Related Party receivable (Note 15 ) 150,000 150,000

Prepayments 231,065 60,056

Staff advances 32,322 23,591

$548,715 $351,371

6




4. PROPERTY, PLANT AND EQUIPMENT

2006 2005

Cost

Land $89,000 $89,000

Building 1,464,240 135,000

Equipment 229,005 143,087

Computers and Accessories 209,130 130,812

Furniture 139,057 127,318

Vehicles 551,518 454,787

Total Cost $2,681,950 $1,080,004

Accumulated Depreciation

Building $87,076 $38,268

Equipment 117,405 115,664

Computers and Accessories 96,307 77,275

Furniture 90,170 94,656

Vehicles 300,398 265,417

Total Accumulated Depreciation $691,356 $591,280

PROPERTY, PLANT AND EQUIPMENT-NET $1,990,594 $488,724

5. ACCOUNTS PAYABLE AND WITHHOLDINGS

2006 2005

Accounts payable $473,646 $376,202

Employee Withholdings 2,482 16,373

Deposits 191,742 134,743

Restricted Grants -- 51,149

$667,870 $578,467

7




6. LONG TERM DEBT

2006 2005

Scotiabank (Belize) Limited demand non-revolving loan in the amount of two

million Belize Dollars ($2,000,000). The loan is to assist with the day-to-day

operating and marketing expenses of the Belize Tourism Board. Interest will

be paid monthly in arrears at one half percent (1/2%) over the Bank's

Corporate Lending Rate as determined from time to time. The Bank's Corporate

Lending Rate currently stands at fourteen percent (14%) per annum. The

repayment of the loan is by way of thirty six (36) monthly payments of

$55,555.56 plus interest monthly, commencing 30 days after first drawdown.

The loan is secured by a Government of Belize guarantee up to $2,000,000. $1,055,555 $1,722,222

Development Finance Corporation $44,000 housing loan repayable by

equal monthly installments of $631.28 inclusive of interest at 12%

per annum. The loan is secured by the mortgaged property. 34,072 36,194

Less current portion -668,535 -667,176

Long-term Debt $421,092 $1,091,240

The loans are repayable as follows:

2006/2007 668,535

2007/2008 392,824

2008/2009 4,421

2009/2010 4,981

2010/2011 5,612

Thereafter 13,254

$1,089,627

8




7. LINES OF CREDIT

As at balance sheet date the Board had access to various facilities at the Scotiabank (Belize)

Limited. These credit facilities are detailed as follows:

a. Facility A- Operating Credit with a maximum limit of BZ$700, 000. The facility is to assist with the

day-to-day operating and marketing expenses of the Belize Tourism Board. Interest rate will be

paid monthly in arrears at one half percent (_%) per annum over the Bank's Corporate Lending

rate as determined from time to time. (The Bank's Corporate Lending rate is currently 14% per

annum. Advances under this facility are payable on demand.

As at March 31, 2006 the facility outstanding balance was $646,344.

b. Facility B- Operating Credit with a maximum limit of BZ$150, 000. The facility is to assist with the

day-to-day operating and marketing expenses of the Belize Tourism Board. Interest rate will be

paid monthly in arrears at the fully adjusted cost of a 30-day term deposit plus a spread of 3%.

Current term deposit rate is 9.5%. Advances under this facility are payable on demand.

As at March 31, 2006 the facility outstanding balance was $147,418.

c. Facility C- Visa Credit with a maximum limit of US$75, 000. The facility is to assist with the

day-to-day operating and marketing expenses of the Belize Tourism Board. Interest rate and

repayment arrangements in accordances with the Visa Card Schedule of Rates and the Visa

Card Holder Agreement. As at March 31, 2006 the facility outstanding balance was $15,662.

Security for the above facilities are (a) Authority to hold funds for $300,000 on Term Deposit

held in the name of the Belize Tourism Board. This authority to hold funds is held primarily

but not restricted to Facility B and Facility C above. (b) Guarantee signed by the Minister of

Finance for $3,000,000 in favor of the Borrower supported by a resolution of the National

Assembly. (c) Letter of Pledge from the Government of Belize to pledge the Hotel Tax and the

Cruise Passenger Head Tax collected by the Board to the Bank in support of the obligations.

8. PRIOR PERIOD ADJUSTMENTS

Prior period adjustments in the year ended March 31, 2006 were necessary to appropriately adjust the financial

statements for amounts which had been collected during the year and but should have been accounted for as

receivables in the year ended March 31, 2005.

Prior period adjustments in the year ended March 31, 2005 were necessary to appropriately adjust the financial

statements for liability amounts which , based on information received subsequent to March 31,2004, had

been settled by the Government of Belize on behalf of the Belize Tourism Board.

The most significant adjustment related to a payable balance in the amount of $194,015.

In addition adjustments were necessary to adjust for various expenditure amounts which had been

inadvertently omitted from previous year's operations.

9




9. COMMITMENTS

a. The Belize Tourism Board entered into a seven year land lease agreement with the Ministry

of Natural Resources for the leasing of a lot located at the Marine Terminal Building in Belize City.

The Belize Tourism Board will have the first option to extend the lease for a further term of thirty years

provided that the conditions of the lease are fulfilled.

The lease payable shall be at sixty dollars per annum. All lease payments will be credited towards

the purchase price of the lot. The Belize Tourism Board will hence have the option to purchase

the lot provided all the conditions of the lease have been carried and upon payment of a fee of

10% of the unimproved market value.

b. On December 20, 2000 the Belize Tourism Board the Government of Belize and the Fort Street Tourism

Village Limited executed an agreement, amended September 14, 2004, in respect to the collection and

division of head tax. The Belize Tourism Board will collect the head tax which currently stands at (US $7)

per passenger, from all passengers calling in the Belize District and of this amount, pay the equivalent

of one dollar and forty cents (US$1.40) in Belize currency to the Protected Areas Conservation Trust

(PACT) and pay four dollars (US$4), in the currency the Belize Tourism Board receives payment

to the Fort Street Tourism Village Limited and the board will retain the additional amount collected.

The Belize Tourism Board shall additionally have the right to increase the head tax from time, and

shall have the right to retain any additional amounts collected as a result of such increase.

c. On April 29, 2004 the Belize Tourism Board the Government of Belize the Carnival Corporation the

Belize Port Limited and the Belize Cruise Terminal Limited signed an agreement, amended November

1, 2004, pursuant to which the Belize Cruise Terminal Limited will develop, finance,manage,operate

and use a cruise port (the "Belize Cruise Terminal Port") and adjacent facilities.

During the term of the agreement The Belize Tourism Board will collect the head tax which currently

stands at (US $7) per passenger, from all Carnival passengers calling in the Belize District and

of this amount, pay the equivalent of one dollar and forty cents (US$1.40) in Belize currency

to the Protected Areas Conservation Trust (PACT) and pay four dollars (US$4), in the currency

the Belize Tourism Board receives payment to the Belize Cruise Terminal Limited and the

Belize Tourism Board will retain the additional amounts collected.

The Belize Tourism Board shall additionally have the right to increase the head tax from time to

time within agreed upon limits, and shall have the right to retain any additional amounts

collected as a result of such increase.

d. On September 7, 2005 the Belize Tourism Board and the Belize Tourism Industry Association entered into

agreement as executing partners of a Inter American Development Bank project (BL-M1001) "Improving Small

Business competitiveness in the Tourism Industry". The total project value is US $833,000 and will be co-funded

by the Inter American Development Bank at 70%, Belize Tourism Board at 15% and the Belize Tourism

Industry Association at 15% and other partners accounting for the remaining 15%.

10




9. COMMITMENTS(Contd.)

The Belize Tourism Board is committed to meet cash counterpart funds in the sum of One Hundred Twenty

Four Thousand United States dollars (US $124,000) over the life of the project. Notably the project is

expected to be completed over a thirty six month period.

10. TAXATION

Income and other receipts of BTB are exempt from Income Tax and Business Tax in accordance

with the Belize Tourism Board Act Chapter 275 Revised Edition 2000.

11. PENSION SCHEME

Separate defined benefit plans are in effect for management and non-management employees.

These schemes are administered by separate Trustees and the funds are consequently held separate

from the funds of the Belize Tourism Board. The Belize Tourism Board pension contribution is

charged to operations in the period the employee service is rendered. Pension expenditures for

both schemes amounted to $47,896 in the year ended March 31, 2006 ($46,074 in 2004/2005).

12. SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING TRANSACTION

During the year ended March 31,2005 the company received $17,668 in equipment at the completion

of the Tourism Training Unit Program in settlement of the amounts which they had

incurred during the project but had not been reimbursed for.

13. RELATED PARTY

During the year ended March 31,2005 the Belize Tourism Board advanced $150,000 to the National

Institute of Culture and History (NICH) for the purpose of developing the Altun Ha archeological

site. NICH has agreed to reimburse the Belize Tourism Board the full amount in the following

year ended March 31, 2006. During the year ended March 31,2006 NICH has yet to reimburse any of the

amount, hence negotiations have commenced on how, if still possible, this amount will be collected.

14. LAND TITLE

As at balance sheet date the Board had yet to receive title to the property located in the Cahal Pech

area of the Cayo District . The value of this property is currently recorded at $85,000 in these

financial statements.

11

12




15. DEFERRED EXPENDITURES

As at March 31, 2004 an amount of $1,288,015 was reported as reimbursable from the Government

of Belize. The Government of Belize in their budget related to the year ended March 31, 2005

decided to discontinue the Downtown Renewal Project and was therefore unable to refund

expenditures made by the Belize Tourism Board for the project. The Belize Tourism Board

therefore opted to amortize the related cost of the project over the estimated period of the benefits

of the project of five years.

2006 2005

Deferred Expenditures as at start of year $1,030,412 --

Total Unamortized Amount -- $1,288,015

Less Amortized amount (Project Cost divided by five years) 257,603 257,603

Deferred Expenditures as at year ended $772,809 $1,030,412

16. INFRASTRUCTURE DEVELOPMENT PROJECTS

During the year ended March 31,2006 the Belize Tourism Board entered into an agreement with

the Belize City Council for the Belize City Council to undertake various city development projects

during the year for a project cost of $669,335 to be fully funded by the Belize Tourism Board.

Subsequent to March 31, 2006 the Belize Tourism Board has entered into a Memorandum of Understanding

with the Belize City Council under which the Belize Tourism Board has committed itself to funding

tourism-related projects not to exceed a total sum $1,000,000. The sum will be payable through the financial

year ending March 31, 2007 and in accordance with a disbursement schedule to be determined by the

Belize Tourism Board, based on a re-budgeting exercise and revised cash flow projections.




17. REVENUE 2006 2005

Revenue from Accommodation taxes $9,272,851 $6,767,504

Assessments and Surcharges 223,883 180,263

Revenue from Cruise taxes 3,126,109 743,115

Licenses and registration revenue 205,988 197,806

Merchandise and souvenir sales 8,390 2,816

Revenue from tourist centers -- 21,430

Revenue from retirement program 104,274 67,770

Training Revenue 95,098 75,548

Interest Revenue 32,406 30,428

Gain on Asset Disposal 5,778 --

Other Revenues 34,540 27,743

$13,109,317 $8,114,423

18. OPERATIONAL EXPENDITURES 2006 2005

Bad Debts $49,917 $107,133

Banking expenditures 97,530 155,988

Directors expenditures 54,602 56,187

Entertainment 22,107 20,350

Fuel and Oil 104,230 54,668

Insurance and licenses expenditures 46,053 30,176

Lease Cost -- 300

Membership and subscription 39,219 15,847

Postage 52,278 32,033

Professional fees 18,700 18,530

Rental expenditures 163,457 72,000

Repairs and maintenance 167,301 83,912

Salaries and wages 877,696 857,772

Security Expenditures 16,762 --

Social security 26,897 27,680

Staff benefits 304,278 594,363

Staff training 72,136 45,672

Stationery expenditures 221,055 166,752

Travel and subsistence-local 19,109 29,058

Travel and subsistence-foreign 169,440 96,721

Uniforms 43,378 21,123

Utilities 125,720 27,117

$2,691,865 $2,513,382

13




19. PROMOTIONAL AND MEDIA PLAN EXPENDITURES 2006 2005

Advertising material $214,922 $112,162

Airport PR program 1,102 170

Brochures/collateral development 79,762 113,822

Consumer and trade shows 341,383 180,384

Donations 144,813 120,914

European marketing 112,800 130,525

Event marketing 95,349 53,683

Familiarization trips 129,629 89,835

Fulfillment house 745,661 535,985

International public relations program 430,619 340,831

Internet marketing 251,133 808,257

Local advertising and public relations 454,682 318,184

Marketing research and intelligence 14,670 14,670

Media tour/television crew -- 29,200

Press/Media (Airfare) 45,239 --

Print advertising campaign 1,474,213 1,586,631

Repeat visitor program 2,500 9,697

Reprinting of brochures/collateral material 249,985 37,772

Sales presentation 31,496 19,630

SICA membership expenditures 146,858 42,088

Television advertising -- 502,114

Wholesaler support/cooperation 41,945 266,684

800 service 39,079 48,702

$5,047,840 $5,361,940

20. PRODUCT DEVELOPMENT EXPENDITURES

Data management $93,705 $7,332

Education, sports and culture 601,838 1,089,714

Hotels department 94,213 93,097

Legislation/licensing 23,946 15,545

Product enhancement 1,473,960 912,679

Projects 136,967 --

Public awareness 674,524 413,471

Tourism Police Unit 122,950 116,276

Tourism Training unit 108,678 121,109

Training 1,234 34,652

$3,332,015 $2,803,875

14

Creative Designs and Productions by:

th

Annual Industry Presentation

Action Plan2007-2008

Make the choice, Play a role...Enhance the Tourism Experience!

Belize Tourism Board - P.O. Box 325, Belize City.Tel: 223-1913 / 223-1910 Fax: 223-1943

E-mail: [email protected] Web: www.travelbelize.org

annual industry presentation action plan 2007-2008...belize tourism board action plan 2007 - 2008...

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