Travel Collaboration in Caribbean Could Generate $100 Billion by 2032

Travel Collaboration in Caribbean Could Generate $100 Billion by 2032

Beautiful views in the Bahamas (photo by Sarah Greaves-Gabbadon)

The World Travel & Tourism Council (WTTC) has revealed the travel and tourism industries in the Caribbean could generate 1.34 million jobs over the next 10 years if local governments continue to work together.

As part of a WTTC report focused on the future growth of the region, travel supported more than 2.7 million jobs before experiencing a staggering 25.8 percent decline, falling to 2.1 million jobs in 2020.

The data also suggests the Caribbean’s travel and tourism industries could contribute more than $100 billion by 2032, but a stronger collaboration across the region, investment in infrastructure and better air connectivity will be critical to its success.

“The Caribbean region is the bedrock of international travel,” WTTC President Julia Simpson said. “Its economies and future rely heavily on Travel & Tourism.”

“Over the next decade, travel in the Caribbean could grow 6.7 percent annually and be worth 100 billion dollars by 2032,” Simpson continued. “This would create 1.3 million new jobs totaling 3.8 million people employed by our sector.”

In addition, collaboration with the private sector and tourism industry organizations like the Caribbean Hotel & Tourism Association (CHTA) and other local associations will also be key to achieving the long-term growth goals.

“But to achieve a long-term, sustained recovery, governments must work together to focus on connectivity, sustainable infrastructure and attracting investment by cutting red tape and taxes,” Simpson said.

The WTTC report also reveals that 2021 saw the beginning of the recovery for the Caribbean travel and tourism sector, which recorded the second-fastest recovery of all regions. In 2019, travel’s contribution to the region’s GDP was 13.9 percent ($61.5 billion), falling to just 7.1 percent ($28.8 billion) in 2020.

For the latest travel news, updates and deals, be sure to subscribe to the daily TravelPulse newsletter here.

Leave a Reply

Your email address will not be published. Required fields are marked *