Page 16 - ASUTIL 2024 Edition

INSIDER

arrivals soaring by +221%, according to
ForwardKeys.
Business travel from Latin America
to the Caribbean is also recovering to a
degree, although at a slower pace than
leisure travel. Key markets for international
business travel from Latin America include
Colombia (+46%), Uruguay (+35%),
and Mexico (+20%, excluding Cancun).
Curaçao (+26%) is the most popular
destination for business travelers from
Latin America.

Connectivity: Europeans looking
elsewhere, but high-value travel grows
Overall European arrivals to the
Caribbean are 5% lower in the first half
of 2024 compared to the previous year.
However, European travel to other long-
Seven Mile Beach at the luxury Kimpton Seafire Resort in Grand Cayman, which is also haul destinations is showing strong growth.
enjoying record high-end travelers. Asia Pacific is the highest performer year-
on-year, with arrivals up 37%, driven by
pandemic levels, says the report. Connectivity: Latin America surpasses the reopening of major destinations such
Despite this growth in direct service, 2029 levels as China (+182%), Vietnam (+50%), Japan
a substantial 32% of arrivals will still Latin America is becoming a key (+48%) and Thailand (+47%).
connect via at least one hub, notes emerging source market for the Caribbean, Travel to the Americas (excluding
ForwardKeys. with arrivals in the first half of 2024 the Caribbean) is also 9% ahead of last
Charlotte Douglas International increasing by 17% above 2019 levels, and year, led by above-average growth to Peru
Airport is the top performing North 10% above 2023. Importantly, high-yield (+44%), Chile (+14%), Colombia (+13%),
American hub for Caribbean connectivity, travelers (up by +13%) are showing better and Brazil (+10%) — which ForwardKeys
with passenger numbers up by 23% year- growth than economy class travelers says is suggesting that European travelers
on-year in the first half of 2024. Other (up by 10%), which offers a positive who took advantage of less restricted
major hubs such as Dallas, Miami and opportunity for destination spending, says travel to the Caribbean in recent years are
Atlanta are also becoming increasingly ForwardKeys. turning their attention elsewhere as new
important for connecting the Caribbean to At the country level, Ecuador and opportunities open up.
U.S. markets, also offering expanded direct Colombia are the top performing origin However, despite the weaker overall
capacity to the region. markets, each increasing by 20% more European performance, high-yield travelers
From Charlotte specifically, airlines arrivals year-on-year. Ecuadorian travelers from Europe to the Caribbean are up
have added 30% more seats to Caribbean are driving growth to Aruba (+136%) and by+5%, particularly from the UK (+19%),
destinations in the first six months of 2024 Curaçao (+70%); Colombian visitors are indicating that the region remains an
compared to the equivalent period in 2023. a main factor in Cuba’s recovery, with attractive option for the luxury market.

ASUTIL Special Issue June 2024 16