Question

Caribbean city is undergoing unprecedented development and growth as the city shifts from a suburban city to an increasingly urban city. Canal Street is to be transformed from an overcrowded transportation corridor into a pedestrian friendly, car free spine connecting the Harbour to the City

Economic Benefit: a. What is the economic benefit created by your innovation and how does your proposal provide this benefit?

b. How much will it cost to implement and maintain your proposal\Who bears the costs of installation and maintenance?

c. What is the economic benefit to the economy from proposal?

Answer 1

Answer a : This proposal will add a economical value through investment in public space. As the proposal focuses on transformation of Caribbean city which will be pedestrian focused, pedestrian friendly corridor which will attract the more number of tourists and become tourist centric due to approach of city transforming from suburban to urban city and foster tourism industry of the city.

Answer b : The overall cost needed to implement and maintain the proposal will depend upon the transformation work undertaken, contracts hired and the material used. The cost related to installation and maintainance will be beared by the government as well as public at large, funding for the project will be collected through community meetings, programs, and fund boxes for the development of the city.

Answer c : Due to this proposal economic benefit to the economy will be :

1. Provides employment to the unemployed during the work

2. Attracts more number of tourists

3. Minimum traffic problem and control due to making it pedestrian friendly.