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Caribbean Tourism Report Q3 2012 - New Market Research Report

New Consumer Goods research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 07/02/2012 -- The Caribbean Tourism Report examines the enormous long-term potential of the market, given its reputation as a major tourism destination, but analyses the impact of a slowdown in Europe - one of its major markets - especially as the Caribbean is a relatively expensive holiday destination The report examines how best to maximise returns in the Caribbean tourism market, capitalising on the region's wide variety of tourism destinations and well developed tourism infrastructure. The report also assesses differences between the key island groupings and which are recovering more swiftly.

We also analyse the key players in the Caribbean market, both domestic and foreign, and the development strategies they are employing to maximise returns during the economic slowdown.

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Key Findings

Data released by the Caribbean Tourism Organisation (CTO) in April 2012 showed that the region enjoyed a good start to the year, with only one country experiencing a decline in tourist arrivals; the lowest number of countries to do so since the financial crisis hit in 2007. This country was Dominica, with an arrivals decline of 5.2% year-on-year (y-o-y). However, Dominica has as yet only reported arrivals data for January, meaning that arrivals may pick up in the rest of the traditional high season.

Of the other countries, only Aruba and Barbados have reported data for the first quarter of 2011, experiencing arrivals growth of 2.4% y-o-y and 2.3% y-o-y respectively, Of those reporting January- February arrivals data, Guyana experienced a surge in arrivals growth of 18.7% y-o-y, followed by Martinique (10.9%), the US Virgin Islands (9.0%) and Anguilla (7.7%). Although this data is only for two or three months, it does indicate that the improving arrivals trend in late 2011 is continuing into 2012, boding well for arrivals throughout the year.

Focus On Guyana

Guyana is one of least well known destinations in the Caribbean Community (Caricom), of which it is a member. However, Guyana is located beyond the Caribbean, on the South American continent, and neighbours Venezuela, Brazil and Suriname. As well as its links to the Caribbean, Guyana is being marketed as an unusual route for visitors to enter South America, with its land links meaning that a visit to Guyana can easily lead on to Brazil and other South American countries. Moreover, Guyana's status as the only English-speaking country in South America has allowed it to promote itself particularly in the UK and North America.

Key Changes Made

BMI analyses the tourist arrivals across the Caribbean for the first months of 2012, assessing the drivers behind strong performance in some markets and weaker in others.

BMI looks at the deteriorating financial position of Caribbean Airlines, and the difficulty it is experiencing in merging the operations of Air Jamaica into its own.

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