Page 12 - ASUTIL 2024 Edition

INSIDER

St. Thomas in the U.S. Virgin Islands is benefiting from the return of business travel and is one of the
destinations showing the highest percentages of premium arrivals.

Caribbean in-depth report: Caribbean tourism robust, but growth is
slowing even as inter-regional and LATAM travel gain strength

The Caribbean Hotel and Tourism Here TMI presents some of the most the first half of 2024, driven primarily by
Association (CHTA) teamed up with travel relevant highlights. arrivals from the United States. Specific
intelligence specialist ForwardKeys to U.S. markets showing strong growth
produce an in-depth study of air traffic and Travel trends: Caribbean tourism include Atlanta (+54%), Houston (+23%)
the tourism prospects for the region. robust, but growth is slowing and Fort Lauderdale (+20%).
“A data-based approach to destination International arrivals to the Caribbean The Dominican Republic (+12%) is
promotion and management will be were up +10% year on-year in the first half also showing significant growth, boosted
foundational for a sustainable, resilient and of 2024 – and overall growth increased by increased connectivity from key origin
profitable future for the region’s tourism +13% compared to 2019. ForwardKeys cities such as Orlando.
sector,” commented CHTA President notes that tickets for international arrivals Cancun in the Mexican Caribbean
Nicola Madden-Greig, about the study. globally are still 16% below pre-pandemic (+7%), the Bahamas (+6%) and Jamaica
levels, underlining that the Caribbean (+2%) are also growing, although more
remains a strong performer. moderately.
Nevertheless, the year-on-year Mid-tier Caribbean destinations
growth, while positive, represents a more – those with a market share between
modest increase compared to the rest of the 0.5% and 5% -- also showed impressive
Americas, which are up by +15% over the growth in the first half of 2024, reports
same period. This means that Caribbean ForwardKeys.
destinations will need to develop strategies Belize leads the list with international
to remain relevant in an increasingly arrivals up +30% year-on-year. Bookings
competitive travel environment, especially from New York alone are +91% higher
as Asia completes its recovery and than in 2023 following the launch of
competes for market share, says the report. new direct flights in December. Overall,
Several top-tier Caribbean the top-performing mid-tier destinations
destinations—those representing a market are expected to reach double-digit YOY
share of 5% or larger —are leading the growth. Only Bermuda and Guadeloupe
way. Puerto Rico tops this ranking, with are at or behind 2023 levels, says
overseas arrivals +18% year-on-year in ForwardKeys.

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