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Summary: The Little Bay Port Industry

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ASSUMPTIONS TO THE ECONOMIC
Project Beneficiaries: The beneficiaries of the project will encompass the direct and indirect public and private stakeholders of the port. In the former case, this will encompass the Monserrate Port Authority, shipping companies, importers and exporters, freight forwarders, road haulers, rail operators, and employees of the port. In the indirect case, beneficiaries will include employees in supportive business and their families, together with tradable sectors of the economy and ultimately, consumers and producers both inside and outside Monserrate.

For the purpose of the analysis, benefits and costs are stated in constant 2017 prices. The exchange rate used in the analysis is USD1.00 = £ 0.76 (September 11, 2017). The analysis was performed over a 25-year period of operations.
GENERAL
The ERR has been estimated based on incremental analysis deduced from comparing “With Project” and “Without …show more content…

This will contribute to an increase in vessels at the port. The key incremental Quantifiable Benefits are outlined below.
Increase Inflows from Cruise Passengers: One of the economic benefit which can be quantified is the increase inflows from cruise passengers, particularly during the winter tourist season (December 15 – April 15 of each year). It is anticipated that the improvement in port operability will contribute to an additional 11,700 cruise passengers a year after project implementation and peak at 14,086 four years after. The average expenditure by cruise passengers visiting is estimated at USD 60 or per passenger. This amount is considered a conservative estimate for Monserrat given the absence of dedicated shopping and other supporting portside facilities. Leakage is estimated at about 30%. Also, passenger head tax of USD$5 is considered in the

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