Caribbean Tourism Report Q4 2014 - New Report Available

From: Fast Market Research, Inc.
Published: Tue Oct 28 2014

The Caribbean region is returning to sustained growth, with all countries expecting tourist arrivals to increase in 2014 and 2015 . However, this is expected to remain below pre-2007 trend growth, with regional arrivals now averaging about 3.0% annual growth. Nonetheless, we expect that improving growth prospects will encourage greater investment in the region, particularly in the hotel sector.

Our tourism report for the Caribbean considers the impact of ongoing global economic uncertainty on the Caribbean tourism industry and how the region's fiscal issues are affecting its tourism arrivals. Following the decline of the financial services industry after the economic downturn hit in 2007, tourism has increased in importance to Caribbean economies. Although Cuba and Trinidad & Tobago have more diversified economies, the majority of the Caribbean islands are now primarily dependent on tourism as their major source of revenue.

Full Report Details at

The latest data from the Caribbean Tourism Organization (CTO) in July 2014 bears out our positive prognosis for growth across all countries in 2014. Indeed, the CTO is reporting higher growth in Antigua, Belize, the Cayman Islands, Montserrat, Grenada and Haiti for the first half of the year. However, we note that the Caribbean low season begins in June, when hurricane season starts, lasting until October/November. Arrivals are therefore set to be lower in these months, picking up again towards the end of the year.

BMI key forecasts :

* BMI has raised its forecast for total 2014 arrivals to 39.9mn, up from a previous forecast of 38.9mn. This will represent 3.0% year-on-year (y-o-y) growth.
* BMI is forecasting hotels and restaurants industry value to total USD9.0bn in 2014, representing growth of 3.2% y-o-y. Growth is projected to be particularly high in 2015, when it will accelerate to 5.7%.
* BMI is forecasting arrivals from North America to grow by 3.4% in 2014, to 13.1mn. Arrivals from Asia-Pacific will grow...

The Caribbean Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Caribbean Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Barbadian, Bahamian, Jamaican, Trinidadian, Dominican, Grenadian, Guyanese, Cuban, Haitian, Martiniquais, Bermudan, Dominican, Puerto Rican, Antiguan, Barbudan, Anguillan, Aruban, Kittitian, Caymanian, St. Lucian, Montserratian, Turks and Caicos Islands, Vincentian, Virgin Islands, British, Virgin Islands, U.S., Belizean, Dutch Antillean, Guadeloupe, Surinamese tourism industry.

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