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CTO reports promising outlook for the region in 2023
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CTO reports promising outlook for the region in 2023

Despite global pressures such as high inflation, the war in Ukraine, the ensuing energy crisis, and an impending economic recession, the outlook for Caribbean travel and tourism is favorable, according to the Barbados-based Caribbean Tourism Organization (CTO).

Delivering the region’s 2022 “Tourism Performance and Outlook Report” in Bridgetown today, Neil Walters, Acting Secretary General of the CTO, confirmed that the Caribbean had one of the quickest recovery rates globally in 2022, with 28.3 million registered tourist visits in 2022. This represents 88.6 percent of the visitors who arrived in 2019, which served as the baseline year for typical tourism activity before the pandemic.

He reported that international travel is expected to contribute to the region’s substantial gains already registered thanks to the robust United States market, which continues to drive the region’s recovery.

There was an estimated 28.1 percent increase in visitors coming from the U.S. market in 2022. At the end of the year, 14.6 million American tourists visited the region, 3.2 million more than the 11.4 million in 2021.

Arrivals from the European market increased by 81 percent in 2022 when compared to 2021. The 5.2 million tourists from this market were almost double the 2.8 million in 2021. This represented 18.3 percent of all arrivals in 2022,

Due to travel restrictions in early 2022, the Canadian market has recovered more slowly at 60 percent, while the lack of availability of intra-regional airlift has negatively impacted regional connectivity.

“Nearly 90 percent of the region’s travel demand for 2019 has already been recovered,” reported Walters, with destinations such as Curaçao, the Dominican Republic, Puerto Rico, St. Maarten, Turks and Caicos, and the U.S. Virgin Islands already surpassing their pre-pandemic levels.

Caribbean destinations can expect this recovery to continue into 2023, albeit at a slower rate, Walters explained, predicting that growth will be uneven among the destinations, with additional countries and territories exceeding their 2019 levels…

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