"Caribbean Tourism Report Q1 2015" Published

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/924115_caribbean_tourism_report_q1_2015.aspx?afid=301

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 Business Monitor International (BMI)'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.

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