EVIDENCE ON THE IMPACT OF INTERNATIONAL FINANCE CORPORATION TOURISM INVESTMENT ON LATIN AMERICAN AND CARIBBEAN ECONOMIES

Elvis Mujacevic, Ana Vizjak and Andrea Cindric

Global Journal of Business Research, 2011, vol. 5, issue 5, 45-60

Abstract: The International Finance Corporation (IFC) as a member of World Bank Group is the largest multilateral source of loan and equity financing for private sector projects in developing countries. Particular focus of International Finance Corporation is to promote economic development by encouraging the growth of productive enterprise and efficient capital markets in its member countries. The purpose of this article is to show the correlation between International Finance Corporation investments and economic development of the region, country, national economies and private enterprises or companies that make partnership with International Finance Corporation. The main object is to evaluate in details the connection and difference between International Finance Corporation and investments in different projects and the difference if the Organization is not investing in some projects or in the specific country. The research objective is to determine the role and significance of International Finance Corporation investments in tourism and hospitality industry on the example of Latin America and Caribbean, and analyze interrelationship between investments and development of specific country in which investments are made, and development of its whole economy and to draw attention on need for stronger implementation and importance of International Finance Corporation as a source of investment funds.

Keywords: International Finance Corporation; investments; tourism; hospitality; economic development; Latin America and Caribbean (search for similar items in EconPapers)
JEL-codes: F21 L83 O1 O16 P45 (search for similar items in EconPapers)
Date: 2011
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