(MENAFNEditorial)
The Caribbean region is returning to sustained growth with all countries expecting tourist arrivals to increase in 2015 and 2016. However growth is expected to remain below pre-2007 levels with regional arrivals now increasing at an average of about 3% annually . 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 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
- http://www.fastmr.com/prod/965761_caribbean_tourism_report_q2_2015.aspx?afid=101
For 2015 we are forecasting growth in all Caribbean islands indicating that they have recovered from the downturn and are beginning to pick up albeit at slightly different rates. For 2015 we are expecting particularly strong growth in Cuba and the Dominican Republic with the smaller islands of St Eustatius Aruba Curacao and the Cayman Islands also performing well. Barbados and the Bahamas will experience among the lowest growth at 0.2% and 0.4% respectively although we note that these are relatively mature markets in any case.
BMI key forecasts :
* BMI is forecasting total arrivals growth of 2.4% in 2015 to 40.3mn. Of this 19.1mn will arrive via cruise and 21.2mn by air.
* BMI is expecting receipts for travel items to grow strongly over the forecast period reaching USD24.1bn by 2018 up from a projected USD20.5bn in 2015.
* BMI is forecasting the region's hotels and restaurants industry value to reach USD9.4bn in 2015 up 5.0% year-on-year and then grow by more than 6% per year to 2018 to total USD11.3bn.
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The Caribbean Tourism Report has been researched at source and features BMI Research'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.
Key Benefits
* Benchmark BMI's independent tourism industry forecasts for Barbados Bahamas Jamaica Trinidad & Tobago Dominica Grenada Guyana Cuba Haiti Martinique Bermuda Dominican Republic Puerto Rico Antigua and Barbuda Anguilla Aruba Saint Kitts and Nevis Cayman Islands Saint Lucia Montserrat Turks and Caicos Islands St Vincent Virgin Islands British Virgin Islands U.S. Belize Netherlands Antilles Guadeloupe Suriname to test other views - a key input for successful budgetary and planning in 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 market.
* Target business opportunities and risks in 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 sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Barbados Bahamas Jamaica Trinidad & Tobago Dominica Grenada Guyana Cuba Haiti Martinique Bermuda Dominican Republic Puerto Rico Antigua and Barbuda Anguilla Aruba Saint Kitts and Nevis Cayman Islands Saint Lucia Montserrat Turks and Caicos Islands St Vincent Virgin Islands British Virgin Islands U.S. Belize Netherlands Antilles Guadeloupe Suriname.
* Assess the activities strategy and market position of your competitors partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
This contains a synopsis of our forecasts and any changes together with an overview of key trends and developments in the tourism industry and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects new hotel developments and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths Weaknesses Opportunities and Threats within the tourism sector and within the broader political economic and business environment.
BMI Industry Forecast Scenario
Forecasts to end-2019 for all key indicators supported by explicit assumptions plus analysis of key downside risks to the main forecasts:
* Inbound Tourism: Total arrivals (‘000 and growth % y-o-y) arrivals by region (‘000 and growth % y-o-y) arrivals by country (‘000 and growth % y-o-y) top 10 source countries for arrivals.
* Outbound Tourism: Total departures (‘000 and growth % y-o-y) departures by regional destination (‘000 and growth % y-o-y) departures by country (‘000 and growth % y-o-y) top 10 destination countries.
* Travel & Receipts: Methods of travel for arrivals (air ship rail) (‘000 and growth % y-o-y) international tourism receipts for transport (USDbn and growth % y-o-y) international tourism receipts for travel items (USDbn and growth % y-o-y).
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