Tourism Has Potential To Drive Nearly $100 Billion in Revenue, More Than a Million New Jobs in Caribbean by 2032
This week at the Caribbean Marketplace in Barbados, ForwardKeys collaborated on the Caribbean Travel Trends Report with CHTA, featuring a top 20 destinations by country list, and examining key destinations that showed uncanny resilience and travel data mastery during Covid-19: Aruba, Saint Lucia, US Virgin Islands, and Bonaire.
Led by a robust leisure market, the Caribbean experienced strong hotel performance in 2022 as almost all travel restrictions were lifted after being a large hindrance for some countries throughout 2021.
Anyone who has visited the sparkling island nations in the Caribbean can vouch for returning home full of bonhomie and feel-good vibes. So, the team at ForwardKeys have the latest travel data to demonstrate that friendly hospitality and great flight connections warrant more international visitors than anywhere else in the world now.
WTTC calls for greater coordination between Caribbean governments to create more than 1.3 million jobs over the next decade
The summer travel season, helped by growing vaccination rates around the world, allowed Caribbean hotels to pick up steam in their road to recovery.
COVID-19 sparks a dramatic 58% collapse in the sector’s contribution to GDP - 680,000 jobs lost with many more still hanging in the balance - However, the return of international travel this year could see GDP contribution rise sharply and jobs return
Although countries in the Caribbean have put into place their own travel restrictions, the market (as a whole) saw a slight pickup in occupancy as the high season approaches.
After record breaking visitation in 2019, the Caribbean was well positioned for another stellar year. However, despite a very low infection rate in the region, the COVID-19 pandemic has presented a wide range of new challenges for stakeholders in the region.
Along the lines of the Bob Marley song, the Caribbean is “alright” despite lingering issues such as post-Hurricane rebuilding, new supply, and Sargassum. Resiliency continues as hoteliers have focused on crisis management and innovative product types to drive tourism and investment in the region.