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Barbadian and Caribbean businesses could find themselves on the sidelines of the lucrative Cricket World Cup if they don't seek to capitalise on opportunities thrown up by the event.

That was the clear warning of themanaging director of West Indies World Cup 2007, Chris Dehring, yesterday's.

Dehring, an investment banker, said the cricket world cup was projected to gross US$300 million over the six weeks it would be run, generating US$500 million in direct foreign exchange flows and US$750 million in economic activity.

He said that of all the enquiries he had received since it was announced thatthe international contest was coming to the region, 90 per cent were from outside the Caribbean.

"It will be a boon to direct and indirect employment and will create priceless international media exposure forcountries successful in hosting official results.

"Entire tourist industries could be built and rebuilt by such unprecedented marketing exposure."

Dehring said: "If we promote this event right we will have upwards of 100 000 visiting supporters to the region. Not to mention the hundreds of thousands of "Caribbean" visitors to the "venue" where the West Indies is playing.

Other revenue opportunities will come through demand for inland and intra-regional transport, food and beverage, health services, entertainment andsouvenirs.

Asked what economic packages would be available, Dehring said by the end of next year information would be available about the venues and categoriesof matches.

Dehring said every contract assigned would go through a process of tendering but he felt it was almost wasteful to wait for official packages to come out.

"That's not how entrepreneurs work," he added, as he pointed to how some business people were already making a number of deals and arrangements in New York in anticipation of that citywinning the bid for the Olympic Games scheduled for 2012.

© Barbados Nation