Nov 2016 Financial News

CTO: Region's tourism growth exceeds expectations

Nov 02, 2016

Caribbean tourism grew by an estimated seven per cent last year, much higher than the projected four to five per cent. Hugh Riley, Secretary General and CEO of the Caribbean Tourism Organisation (CTO), said this was above the global rate of growth, which was an 4.4 per cent. He said the region’s arrival and visitor expenditure records had surpassed expectations.

In a message to mark Caribbean Tourism Month, Riley said in 2015 visitors to the region spent over $1 billion more than they did the previous year, contributing approximately US$30 billion to Caribbean economies.

“For 2016 the latest visitor arrival data indicate that tourist trips grew by 5.2 per cent in the first six months when compared to the same period of 2015. While this is encouraging, we must not settle. We certainly cannot relax until we become the world's most desirable year round, warm weather destination and until every citizen of the Caribbean benefits from tourism,” he said.

“The first priority is to embrace our mantra of sustainable tourism development. We must keep the right balance between maximizing the benefits of our tourism assets for the well being of our current populations, and do so responsibly, so that we can preserve those resources for generations to come. To maximize the benefit and preserve resources, we need to create systems that ensure that guests and hosts can equally enjoy the experience.”

Riley, in highlighting the economic benefits of the tourism industry, said more citizens in the region are getting involved in the sharing economy and opening their homes and apartments to visitors from around the world. 

He said: “During Caribbean Tourism Month (#CTM2016), which we observe every November, we will have the opportunity to place even greater emphasis on the kinds of experiences we offer to guests, which make up our exciting and diversified tourism product.

“It's also a great time to introduce new ideas, methods and products, to propose innovative and revolutionary thinking and to generate fresh energy into the sector.”

The theme for the month is One Sea, One Voice, One Caribbean.

Source:
Trinidad Guardian
Wednesday November 2, 2016

http://www.guardian.co.tt/business/2016-11-01/cto-region%E2%80%99s-tourism-growth-exceeds-expectations