Caribbean Showing Signs of Growth

Central AmericaUpdates

Nov 03. A new study by ForwardKeys highlights that the friendly hospitality and excellent air connections now justify more international visitors to the Caribbean than other parts of the world.

Throughout 2020 and 2021, ForwardKeys’ data revealed the success stories of Puerto Rico and the Dominican Republic, but in 2022 the number of travelers across the region grows, the report adds.

VP of Insights at ForwardKeys, Olivier Ponti, noted that the Caribbean example is not limited to recovery, but growth, despite all the macroeconomic factors, such as the slowdown in the global economy and rising gasoline costs.

In the fourth quarter of this year, tourism figures accelerated even more. Leading the way in arrivals from abroad is the Dominican Republic, with 40 percent more than in 2019, followed by the U.S. Virgin Islands (+33 percent), Bonaire (+30 percent), and Martinique (+26 percent).

According to its latest Economic Impact Report (EIR), this industry will generate 5.5 million new jobs over the next decade in Latin America, with a year-on-year growth rate of 3.2 percent.

Likewise, the report states that in 2021 the contribution of the travel and tourism sector to Latin America’s GDP represented 6.1 percent (US$213.4 billion), which meant a growth of 26.5 percent over the previous year.

Source: Travel Pulse

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