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<br /> Issue #10<br /> IFC’s quarterly journal on public-private partnerships<br /> In this issue<br /> cultural heritage: The economics of uniqueness<br /> natural heritage: “Whole park” PPPs<br /> investment: Financing future heritage sites<br /> transport: Low-cost carriers<br /> first person: UNWTO’s Secretary-General;<br /> Haiti’s Minister of Tourism<br /> TOURISM<br /> ppps<br /> IN PARTNERSHIP WITH<br /> Australia • Austria • Brazil • Canada • Catalonia (Spain) • Flanders (Belgium) • France • Ireland • Italy •<br /> Japan • Kuwait • Netherlands • Norway • Sweden • Switzerland • United Kingdom • United States • Public-Private<br /> Infrastructure Advisory Facility (PPIAF) • Global Partnership for Output-Based Aid (GPOBA) • Private Infrastructure<br /> Development Group (PIDG) • African Development Bank • Asian Development Bank • Brazilian Development Bank<br /> (BNDES) • Caribbean Development Bank • Central American Bank for Economic Integration • European Inves<a title="Handshake Issue #10: Tourism &amp; PPPs page 1" href="http://viewer.zmags.com/publication/a0f587af?page=1"> Issue #10 IFC’s quarterly journal on publ</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 2" href="http://viewer.zmags.com/publication/a0f587af?page=2"> IN PARTNERSHIP WITH Australia • Austria • Braz</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 3" href="http://viewer.zmags.com/publication/a0f587af?page=3"> Letter from IFC Francesco Bandarin, UNESCO’s Ass</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 4" href="http://viewer.zmags.com/publication/a0f587af?page=4"> Features Cultural Heritage The economics of uni</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 5" href="http://viewer.zmags.com/publication/a0f587af?page=5"> First Person Tourism & democracy | 16 Advising t</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 6" href="http://viewer.zmags.com/publication/a0f587af?page=6"> Contributors 69 16 70 Geoffrey Ken</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 7" href="http://viewer.zmags.com/publication/a0f587af?page=7"> Jonathan Mitchell leads Europe’s Economic Growth </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 8" href="http://viewer.zmags.com/publication/a0f587af?page=8"> have PPP Photo © Jeff Smallwood 6 | IFC.ORG/H</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 9" href="http://viewer.zmags.com/publication/a0f587af?page=9"> PERSPECTIVE Operators of successful tourist d</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 10" href="http://viewer.zmags.com/publication/a0f587af?page=10"> The challenge for all economies—advanced and emer</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 11" href="http://viewer.zmags.com/publication/a0f587af?page=11"> munities with tourism, and improved the impact of</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 12" href="http://viewer.zmags.com/publication/a0f587af?page=12"> around the world with tourism PPPs </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 13" href="http://viewer.zmags.com/publication/a0f587af?page=13"> ties can benefit substantially from such services</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 14" href="http://viewer.zmags.com/publication/a0f587af?page=14"> CULTURAL HERITAGE THE ECONOMICS OF UNIQUENES</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 15" href="http://viewer.zmags.com/publication/a0f587af?page=15"> The tourism industry has two faces: o</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 16" href="http://viewer.zmags.com/publication/a0f587af?page=16"> Phases of the tourism cycle </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 17" href="http://viewer.zmags.com/publication/a0f587af?page=17"> ate and manage a tourism asset and the owner- shi</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 18" href="http://viewer.zmags.com/publication/a0f587af?page=18"> de&mocracy tourism A two-way street Cit</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 19" href="http://viewer.zmags.com/publication/a0f587af?page=19"> Tourism has been criticized for the damage it inf</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 20" href="http://viewer.zmags.com/publication/a0f587af?page=20"> Living istory </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 21" href="http://viewer.zmags.com/publication/a0f587af?page=21"> Many </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 22" href="http://viewer.zmags.com/publication/a0f587af?page=22"> Heritage A how-to guide Not even the richest of</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 23" href="http://viewer.zmags.com/publication/a0f587af?page=23"> CHARACTERISTICS For many (but not all) heritage P</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 24" href="http://viewer.zmags.com/publication/a0f587af?page=24"> comes from the current owner of the property </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 25" href="http://viewer.zmags.com/publication/a0f587af?page=25"> RECONSTRUCTION OF THE WESTERN GATE, ALBA CAROLINA</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 26" href="http://viewer.zmags.com/publication/a0f587af?page=26"> ALL AB ARD Union Station’s triumphant comeback </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 27" href="http://viewer.zmags.com/publication/a0f587af?page=27"> CULTURAL HERITAGE The successful collab</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 28" href="http://viewer.zmags.com/publication/a0f587af?page=28"> HERITAGE’S helper Photo © UNESCO Francesco</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 29" href="http://viewer.zmags.com/publication/a0f587af?page=29"> As director of UNESCO’s World Heritage Centre, yo</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 30" href="http://viewer.zmags.com/publication/a0f587af?page=30"> sites including Sian Kan in Mexico’s Yucatan and </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 31" href="http://viewer.zmags.com/publication/a0f587af?page=31"> What’s the most compelling trend affecting touris</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 32" href="http://viewer.zmags.com/publication/a0f587af?page=32"> CULTURAL HERITAGE By Peter Debrine A NEW DI</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 33" href="http://viewer.zmags.com/publication/a0f587af?page=33"> UNESCO’s World Heritage Sites create jobs, promot</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 34" href="http://viewer.zmags.com/publication/a0f587af?page=34"> Photo © Pepe Barbe, Clearwater State Park, Califo</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 35" href="http://viewer.zmags.com/publication/a0f587af?page=35"> THE WHOLE PARK PROMISE Whole park concessions dif</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 36" href="http://viewer.zmags.com/publication/a0f587af?page=36"> • land owners</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 37" href="http://viewer.zmags.com/publication/a0f587af?page=37"> healthcare. However, this top-heavy staffing mode</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 38" href="http://viewer.zmags.com/publication/a0f587af?page=38"> Arizona Parks A Tale of Two In 2011, parks conc</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 39" href="http://viewer.zmags.com/publication/a0f587af?page=39"> (18 percent of gate revenue) and only paid for co</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 40" href="http://viewer.zmags.com/publication/a0f587af?page=40"> NATURAL HERITAGE a passion for Interview </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 41" href="http://viewer.zmags.com/publication/a0f587af?page=41"> exasperating to see that they are constantly used</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 42" href="http://viewer.zmags.com/publication/a0f587af?page=42"> LEGALEASE “ p&lan to dream </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 43" href="http://viewer.zmags.com/publication/a0f587af?page=43"> GOVERNING LEGISLATION A key issue for the authori</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 44" href="http://viewer.zmags.com/publication/a0f587af?page=44"> project is financed, since lenders are unlikely t</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 45" href="http://viewer.zmags.com/publication/a0f587af?page=45"> park privatization in practice IFC | 43 A conce</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 46" href="http://viewer.zmags.com/publication/a0f587af?page=46"> Photo © multilisks/istockphoto Public-private pa</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 47" href="http://viewer.zmags.com/publication/a0f587af?page=47"> As the sky lightens in Nyungwe National Park in s</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 48" href="http://viewer.zmags.com/publication/a0f587af?page=48"> A MODEL IN MOZAMBIQUE Two thousand kilometers sou</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 49" href="http://viewer.zmags.com/publication/a0f587af?page=49"> As Africa’s concession policies take hold, exampl</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 50" href="http://viewer.zmags.com/publication/a0f587af?page=50"> bFroreicgasth: t TOURISM’S INVESTMENT CLIMATE </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 51" href="http://viewer.zmags.com/publication/a0f587af?page=51"> INVESTMENT CLIMATE The developing world is </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 52" href="http://viewer.zmags.com/publication/a0f587af?page=52"> investment—or there is an absence of a commer- ci</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 53" href="http://viewer.zmags.com/publication/a0f587af?page=53"> potential. This can involve commercializ- ing key</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 54" href="http://viewer.zmags.com/publication/a0f587af?page=54"> h TOURIST te accidental Interview by Alison Buck</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 55" href="http://viewer.zmags.com/publication/a0f587af?page=55"> INVESTMENT CLIMATE Don Hawkins was appointed </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 56" href="http://viewer.zmags.com/publication/a0f587af?page=56"> to sustainable development. After five years of U</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 57" href="http://viewer.zmags.com/publication/a0f587af?page=57"> ties for both the Aqaba Regional Authority and th</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 58" href="http://viewer.zmags.com/publication/a0f587af?page=58"> tourist TRAP </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 59" href="http://viewer.zmags.com/publication/a0f587af?page=59"> BrisConnections, the SPV for AirportlinkM7, enter</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 60" href="http://viewer.zmags.com/publication/a0f587af?page=60"> INVESTMENT CLIMATE Photo © Dietmut Teijgeman-Han</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 61" href="http://viewer.zmags.com/publication/a0f587af?page=61"> Around the time of the Millennium Develop- ment S</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 62" href="http://viewer.zmags.com/publication/a0f587af?page=62"> ects over recent years. One of the more success- </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 63" href="http://viewer.zmags.com/publication/a0f587af?page=63"> Glimpsing the future An important driver for chan</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 64" href="http://viewer.zmags.com/publication/a0f587af?page=64"> l F ying f as ares Low-cost carriers revit</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 65" href="http://viewer.zmags.com/publication/a0f587af?page=65"> Numerous studies have indicated that the entrance</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 66" href="http://viewer.zmags.com/publication/a0f587af?page=66"> A separate study, which looked at the Korean isla</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 67" href="http://viewer.zmags.com/publication/a0f587af?page=67"> QUANTIFYING “The Southwest Effect” In 1993 the U</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 68" href="http://viewer.zmags.com/publication/a0f587af?page=68"> Ambassadors </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 69" href="http://viewer.zmags.com/publication/a0f587af?page=69"> • Increases in direct flights and frequency of fl</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 70" href="http://viewer.zmags.com/publication/a0f587af?page=70"> FIRST PERSON Advising the advisors Travel</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 71" href="http://viewer.zmags.com/publication/a0f587af?page=71"> “ ” Geoffrey Kent Travel can </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 72" href="http://viewer.zmags.com/publication/a0f587af?page=72"> Stéphanie Balmir Villedrouin </a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 73" href="http://viewer.zmags.com/publication/a0f587af?page=73"> IFC | 71</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 74" href="http://viewer.zmags.com/publication/a0f587af?page=74"> John Tribe Professor of Tourism, Surrey Tourism R</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 75" href="http://viewer.zmags.com/publication/a0f587af?page=75"> Hannah Messerli Seni</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 76" href="http://viewer.zmags.com/publication/a0f587af?page=76"> 74 | IFC.ORG/HANDSHAKE</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 77" href="http://viewer.zmags.com/publication/a0f587af?page=77"> Chris Weaver Managing Director of the World Wildl</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 78" href="http://viewer.zmags.com/publication/a0f587af?page=78"> Anita Mendiratta Founder & Managing Director, CAC</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 79" href="http://viewer.zmags.com/publication/a0f587af?page=79"> Mahmud Janmohamed Managing Director, Serena Hotel</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 80" href="http://viewer.zmags.com/publication/a0f587af?page=80"> Taleb Rifai Secretary-General, UN World Tourism O</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 81" href="http://viewer.zmags.com/publication/a0f587af?page=81"> IFC | 79</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 82" href="http://viewer.zmags.com/publication/a0f587af?page=82"> Brett Tollman Chief Executive Officer and Presiden</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 83" href="http://viewer.zmags.com/publication/a0f587af?page=83"> Gerald Lawless President and Group Chief E</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 84" href="http://viewer.zmags.com/publication/a0f587af?page=84"> FAST FACTS Tourism is the 4th largest ind</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 85" href="http://viewer.zmags.com/publication/a0f587af?page=85"> “ Travel makes one modest. You see what a t</a> <a title="Handshake Issue #10: Tourism &amp; PPPs page 86" href="http://viewer.zmags.com/publication/a0f587af?page=86"> Subscribe: ifc.org/handshake Connect with us: </a>