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Report Published: "Caribbean Tourism Report Q2 2013"

New Consumer Goods market report from Business Monitor International: "Caribbean Tourism Report Q2 2013"


Boston, MA -- (SBWIRE) -- 04/01/2013 -- This quarter, BMI has revised and restructured its tourism reports, incorporating a greater range of data and focusing on the hotel industry, the value of the tourism industry itself, and the impact of macroeconomic factors.

The BMI Caribbean Tourism report examines the growth and development of the Caribbean tourism industry, both inbound and outbound, paying particular attention to the hotels industry. The reports cover Anguilla, Antigua & Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, Bonaire, the British Virgin Isles, Cayman Islands, Cuba, Curacao, Dominican Republic, Grenada, Guyana, Jamaica, Montserrat, Puerto Rico, Saba, St Eustatius, St Kitts, St Lucia, St Vincent, Suriname, Trinidad & Tobago, and the US Virgin Islands.

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The report considers the impact of the continuing global economic uncertainty on the Caribbean tourism industry, and evaluates the potential impact which the European debt crisis and the imminent US fiscal cliff will have on the region's tourist arrival figures, as these two areas represent the first and third biggest markets for the Caribbean tourism industry. The report will also address the potential effects of the Brazilian World Cup in 2014, and Olympics in 2016, as Latin America represents the second largest tourist market based on arrivals figures. It is possible these two events will attract potential Latin American visitors away from the Caribbean, with the lure of once-in-a-lifetime events that are rather closer to home.

There has been a rise in global tourism levels, despite the economic uncertainty of the past few years, and BMI estimates that 2012 has seen a 4% increase, highlighting the resilience of the tourism industry in the face of a global recession. Surprisingly, despite its reputation as an expensive holiday destination (which saw it lose a lot of custom in the immediate aftermath of the events in 2007-2009), the Caribbean has seen a corresponding, albeit more moderate, upswing in its own tourist arrivals. In 2012, BMI estimates that the Caribbean saw air arrivals of about 17.3mn people, and we forecast that this will rise by 1.6% to 17.6mn in 2013. By 2017, the air arrivals figures are forecast to reach around 18.8mn per year. Equally, cruise figures are estimated to have amounted to 15.8mn during 2012, and are forecast to reach 17.1mn by 2017. This means that total arrivals figures for 2013 should be 33mn, rising to 35mn by 2017.

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