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Friday, October 20 2017 @ 12:55 AM AST

Impact of 'US rapprochement to Cuba' on tourism to the rest of the Caribbean


SOURCE: Central Bank of The Bahamas

About two years after U.S. President Barack Obama announced a rapprochement to Cuba, re-establishing diplomatic ties in 2015, the dust has settled and the impact on tourism to the rest of the Caribbean is beginning to be seen. Whether it's sustainable and will continue, as new U.S. President Donald Trump has vowed to undo what Obama did, is still left to be seen.

Official tourism data from the nearest Caribbean market to the United States, which was forecast to be most affected by a surge in tourism to Cuba, The Bahamas, showed an overall decline in arrivals for Q1, extending the prior year’s falloff:
- Total passenger traffic fell by 2.2% during Q1-2017, after a 0.4% decline in the first quarter of 2016.
- Air and sea arrivals fell by 9.4% and 0.2%, respectively, following a 2.3% gain in air traffic and a 1.1% decrease in sea passengers, last year.

However, indications are that the tourism sector’s performance improved modestly during the June quarter. Data from the Nassau Airport Development Company (NAD) showed:
Outbound passenger traffic at the LPIA firmed by 1.9% - net of domestic departures - during the second quarter, compared to a 1.5% gain in the prior year.
• U.S passengers rose by 1.6% (firmed by 3.3% in Q2-2016).
• Non-US International • International traffic grew by 4.5% (fell by 9.5% in Q2-2016).

BUT THE BAHAMAS STILL LEADS IN VOLUME:



For more on the Bahamian economy visit: http://centralbankbahamas.com/downloa...663200.pdf

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