Caribbean Tourism Report - Business Monitor International - Industry Reports

Caribbean Tourism Report

Caribbean Tourism Report - Business Monitor International - Industry Reports
Caribbean Tourism Report
Published Oct 01, 2016
45 pages — Published Oct 01, 2016
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...This warning recommended that pregnant women should not travel to these countries. ...We forecast solid, if unspectacular, arrivals growth in major Caribbean tourism markets, such as Jamaica and Puerto Rico, which rely heavily on US tourists. In contrast, those countries with significant shares of European arrivals, such as Antigua & Barbuda, Grenada, Bonaire, Curacao and Saint Vincent & the Grenadines, are set to see weaker growth. However, we see considerable potential in several markets, in particular Haiti, notwithstanding the current unrest surrounding the postponed presidential and legislative elections. ...These developments are part of a broader rebuilding effort following the ---- earthquake, which devastated the country, and will help to provide a base for future investment. The Haitian tourism sector will not be competing with regional heavy-hitters such as Jamaica and the Dominican Republic any time soon, but a steady increase in investment into the sector will buoy tourist arrivals over a multi-year period.

...BMI View: The Caribbean is slowly recovering from the economic downturn that has weighed on arrivals since ----, but it has not yet returned to pre-crisis trend growth of --- . We do not expect the Caribbean to return to these levels of growth during our forecast period, especially given the Zika virus outbreak in late ----, which may weigh on ---- arrivals. ...The economies of most islands continue to perform poorly, and governments lack revenue to invest in long-term infrastructure projects to boost economic growth. For example, the construction of the new international airport in Saint Vincent and the Grenadines has experienced several delays and is only now nearing completion, and there are few other projects of this scale. Instead, governments are looking for international and private investment to help develop the tourist industry. For example, in mid----- the Caribbean Development Bank agreed to fund USD--.-m for improvements to Barbados s water infrastructure in order to upgrade potable water facilities and supply. External support of this type will be crucial in allowing the Caribbean to ride out the slowdown and return to trend growth.

...Total Arrivals, ---*, change y-o-y --.- -.- -.- -.- -.- -.- -.- -.- -.- *includes cruise arrivals; e/f = BMI estimate/forecast. Source: National sources, BMI North America is the Caribbean s largest tourism market. ...This is highly positive for the Caribbean tourism market, as European tourists are a core source market and contribute a considerable proportion of total tourist expenditure. However, we note that the UK s decision in June ---- to leave the EU could have negative implications for those Caribbean countries that traditionally experience high levels of arrivals from the UK, as economic uncertainty surrounding Brexit may weigh on tourism. We expect arrivals from North America to grow by -.- again in ----, reaching --.-m. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Caribbean Tourism Report" Oct 01, 2016. Alacra Store. Oct 25, 2016. <>
Business Monitor International - Industry Reports. (2016). Caribbean Tourism Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <>
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