Travel & Tourism is one of the most important economic sectors in the Caribbean. The 46.7 million international visitors who came to the region in 2016 spent US$31.4 billion which supported a total of $56.4 billion in GDP and 2.4 million jobs. Meanwhile, the domestic market generates more than 25% of the region’s Travel & Tourism GDP.
Overall, Travel & Tourism contributes 15.2% of the Caribbean’s GDP and 13.8% of employment. However, in around half of the countries analysed, the sector accounts for over 25% of GDP – more than double the world average of 10.4%.
It is therefore vital to the Caribbean economy that Travel & Tourism recovers as quickly as possible from the damage caused by the unusually severe hurricanes of 2017 – most notably Hurricanes Irma and Maria in September. They had a major impact on popular tourist destinations such as the BVI and Puerto Rico, although around two thirds of the region avoided any damage.
This report by the World Travel & Tourism Council (WTTC) assesses the immediate and long-term impact of the 2017 hurricane season on the Travel & Tourism sector across the Caribbean as a whole and on specific islands. It describes the losses that the sector has already experienced, forecasts when Travel & Tourism is likely to return to its previous level of growth, and recommends government policies and marketing strategies that can help speed economic recovery.
This summary assesses the economic impact of the 2017 hurricane season on Travel & Tourism across the Caribbean.
This report describes the losses that the sector has experienced across the Caribbean due to the hurricanes. It forecasts when Travel & Tourism is likely to return to its previous level of growth and recommends government policies and marketing strategies that can help speed economic recovery.