This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Haiti Hopes $160 M For High-end Tourism Pays Off


MONTROUIS, Haiti (AP) â¿¿ The only leisure tourist among the U.N. peacekeepers, aid workers, embassy personnel and missionaries on this beach north of the Haitian capital must have been Anne Fournier.

She didn't live or work in Haiti or pretend to help. Fournier was here for fun, traveling to Haiti for the first time with her Port-au-Prince-born husband of almost two years. The couple visited a few of his relatives but otherwise has spent their 10-day vacation seeing the historic town of Jacmel in the south, wading in a nearby waterfall and relaxing on the beach.

"You can tell that the tourism isn't very developed yet, and that's the big charm of it," Fournier, 26, of Montreal, Canada, as she sipped juice from a cut-open coconut. "Everything is an adventure here."

Haitian President Michel Martelly and his administration are to trying to woo Fournier and others like her as they aim high to revive the country's long stagnant tourism industry with investments totaling more than $160 million.

While many in Haiti welcome anything that can create jobs, some critics are questioning the government's priority of trying to attract high-end tourists at a time when the country faces so many other problems, such as high unemployment, a deadly cholera outbreak and lack of housing for people displaced by the earthquake more than three years ago.

"It's good that the government is thinking about tourism but I think it's thinking about it in a very narrow way," said Robert Maguire, a longtime Haiti scholar at George Washington University. "It's an exclusive, high-end model that benefits a small group of the elite."

Haiti's tourism ministry had about $2 million in its budget under the previous administration, and received another $1 million from a Venezuelan oil fund in the aftermath of a destructive storm season, according to the former tourism minister. Today, the department has a budget that's $4.7 million, plus $27 million from Venezuela's PetroCaribe fund.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs