Revisiting Tourism Flows to the Caribbean
Revisiting Tourism Flows to the Caribbean

Author: Ms.Nicole Laframboise

Publisher: International Monetary Fund

Published: 2014-12-18

Total Pages: 27

ISBN-13: 1498351565

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The Caribbean share of the global tourism market has been declining. This study examines what is driving tourism flows. It estimates the determinants of tourism and explores variations based on sample differences, and also constructs a static nominal price comparison index. The paper finds that: (i) tourism arrivals and expenditure are sensitive to both price and income factors in source markets; (ii) price and income elasticities of tourism have declined since 2008; (iii) price elasticity is statistically insignificant for “high-end” destinations; and (iv) the nominal cost of an average one week beach holiday in the Caribbean is higher than in other beach destinations around the world. These results point to the need for structural reforms to raise product quality, cost reduction or containment in “low-end” destinations, including possibly via exchange rates, and an adjustment in aggregate consumption to adapt to the implications of a lower contribution to GDP from tourism.

Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism
Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism

Author: Mr.Sebastian Acevedo Mejia

Publisher: International Monetary Fund

Published: 2017-04-28

Total Pages: 19

ISBN-13: 1475596758

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The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.

Last Resorts
Last Resorts

Author: Polly Pattullo

Publisher: Ian Randle Publishers

Published: 1996

Total Pages: 240

ISBN-13: 9768100818

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For review see: Peter Hulme, in New West Indian Guide / Nieuwe West-Indische Gids, vol. 71, no. 1 & 2 (1997); p. 107-109; Dennis J. Gayle, in The Hispanic American Historical Review, vol. 77, no. 1 (1997); p. 170-171.

Vacation Over
Vacation Over

Author: Rafael Romeu

Publisher: International Monetary Fund

Published: 2008-07-01

Total Pages: 64

ISBN-13: 1451870205

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An opening of Cuba to U.S. tourism would represent a seismic shift in the Caribbean's tourism industry. This study models the impact of such a potential opening by estimating a counterfactual that captures the current bilateral restriction on tourism between the two countries. After controlling for natural disasters, trade agreements, and other factors, the results show that a hypothetical liberalization of Cuba-U.S. tourism would increase long-term regional arrivals. Neighboring destinations would lose the implicit protection the current restriction affords them, and Cuba would gain market share, but this would be partially offset in the short-run by the redistribution of non-U.S. tourists currently in Cuba. The results also suggest that Caribbean countries have in general not lowered their dependency on U.S. tourists, leaving them vulnerable to this potential change.

Tourism in the Caribbean
Tourism in the Caribbean

Author: David Timothy Duval

Publisher: Psychology Press

Published: 2004

Total Pages: 328

ISBN-13: 9780415303613

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This book brings together a high calibre team of international researchers to provide an up-to-date assessment of the scope of tourism and the nature of tourism development in the Caribbean; past, present and future.

New Perspectives in Caribbean Tourism
New Perspectives in Caribbean Tourism

Author: Marcella Daye

Publisher: Routledge

Published: 2008-04-07

Total Pages: 278

ISBN-13: 1135904359

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This volume explores tourism in the Caribbean - one of the most tourism dependent regions of the world - within the context of key currents of Caribbean thought and critique in relation to issues of dependency, postcolonial interactions, race and class as well as identity and culture.

Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism
Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism

Author: Mr.Sebastian Acevedo Mejia

Publisher: International Monetary Fund

Published: 2017-04-28

Total Pages: 19

ISBN-13: 1475595727

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The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.

Barbados
Barbados

Author: International Monetary Fund. Western Hemisphere Dept.

Publisher: International Monetary Fund

Published: 2016-08-26

Total Pages: 34

ISBN-13: 1475530455

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This Selected Issues paper discusses data issues and postcrisis growth in Barbados. An analysis of the data on Barbados shows very clear inconsistencies among the various measures of economic development. Although real growth seems to have evolved broadly in line with the rest of the Caribbean, nominal growth and inflation developments suggest that Barbados was hit much harder by the global financial crisis. At the same time, these data may also be misleading. Nominal GDP seems to have inadequate coverage, and inflation is much higher in Barbados than in similar economies in the region.