Caribbean sees visitor exports increase

The Caribbean, as a key US destination market, saw its visitor exports increase by 5.9 per cent in 2015, which is significantly above global average of 2.4 per cent.

 

Also, according to the Economic Impact Reports 2016, US neighbouring countries Canada and Mexico, saw their visitor exports (money spent by foreign visitors in the country) grow by 8.5 per cent and 28.9 per cent respectively in the last year.

 

President and CEO of the World Travel & Tourism Council (WTTC), David Scowsill, said that Travel & Tourism has been performing well in the majority of the economies in the Americas, with the US dollar being a big driver.

 

“There is a huge potential for countries to tap into the growing number of US tourists travelling abroad because of their strong currency. 

 

“It is important that governments in the region prepare their countries to receive and facilitate this increased number of travellers by focusing on tourism investment, attracting human capital into the sector, ensuring their visa policies facilitate the international visitors and providing the right health, safety and security environments for the sector to thrive.”

 

In South America the strong US dollar and a growing regional middle class have also been driving sector growth, with 17 out of 19 countries experiencing growth in total Travel & Tourism contribution to Gross Domestic Product (GDP). 

 

Venezuela and Brazil were the only South American countries that saw their Travel & Tourism economies decline in 2015, by 2.9 per cent and 0.5 per cent respectively. 

 

A strong currency depreciation in Brazil,and reduction in local disposable income, reduced outbound tourism spending by 5.1 per cent in 2015. However, the country reported a strong increase in visitor exports due to depreciation making the country a cheaper destination.

 

“Brazil also has a great opportunity to take advantage of these favourable conditions for inbound tourism. 

 

“The infrastructure improvements made for the World Cup and the upcoming Olympics, should allow Brazil to benefit from the socio-economic contribution of our sector. 

 

“There is also meaningful potential for domestic tourism to expand in Brazil, now that reduced spending power of the Real is discouraging Brazilians from foreign travel,” Scowsill said. (TL)