As local financial institutions make a concerted effort to push customers toward more digital transactions, Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper said the tourism industry will have to also pivot to become more cashless.
He was a panelist at the World Travel and Tourism Council (WTTC) Global Summit in Saudi Arabia last week, discussing the future of technology in global travel and the impact of new currencies in cashless societies.
Cooper said The Bahamas must adapt to ensure that the technology used in other parts of the world is available more widely to visiting tourists.
“When we talk about frictionless travel, when we talk about a cashless society, we must ensure the technology that is being used elsewhere in the world is adaptable and usable here in The Bahamas and we can facilitate the use. When tourists arrive from New York, you want Apple Pay to work. When you arrive from Eastern Europe you want Veeam to work, to be able to pay for your goods and services,” he said.
“If you are accustomed to being cashless where you come from, you want to be able to go to the vendors and go to your hotel, or a rental car company or taxi, and be able to use a credit card or a digital wallet or some other form of digital payment. We’re making significant inroads already in this space. There are the various companies that have developed wallets, and the Central Bank has developed a digital version of the Bahamian currency. We have a broad acceptance of credit cards, so we are well on the way.”
Cooper said adapting to technological advancements will further improve The Bahamas’ tourism product.
“Fortunately being a very open society has caused us to adapt to changes over time, however we must go further. Everyone has a digital cellphone, this is the way of the future and we must ensure that our rules are harmonized with the rest of the world when it comes to banking and data protection; and we have the technology and are at the front leading the way in the advancement of new technology,” he said.
“Eventually biometrics will be the way of the world, instead of showing a boarding pass there will be facial recognition. These are some of the things that are being discussed and certainly our international partners will continue to be at the cutting edge of these initiatives. Just like when we launched the e-passports, eventually there will be e-visas and we will require the facilities, investment in technology, innovation, education and training to be able to welcome the tourists of tomorrow.”
While at the summit, Cooper also signed a memorandum of understanding (MOU) with the Kingdom of Saudi Arabia on cooperation in the field of tourism.
The MOU, he said, is a pledge that puts tourism at the forefront of economic development and promotional relationships between the two countries.
