AIR TRANSPORT AND TOURISM · 2018. 11. 22. · Tourism Trends Travel and Tourism Industry 10.2% 6.6% in 2016, accounted for: ... British Virgin Is. Antigua & Barbuda Haiti Barbados

AIR TRANSPORT AND TOURISM

Mr. Ronald James Economist, Caribbean Development Bank

Smart Product Mix

AGENDA 01 Tourism Trends

02 Caribbean Connectivity

03 Policy imperatives for Improving

the Industry Product Mix

Global

Tourism

Trends

Travel and Tourism Industry

10.2% 6.6%

in 2016, accounted for:

Global GDP Total Exports

1950: 25 million tourists

2030: 1.8 billion

Caribbean Tourism Trends

0.0

100.0

200.0

300.0

400.0

500.0

600.0

1990 1995 2000 2005 2010 2015

BMCs All Caribbean

Central America South America

Mexico

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

1989 1994 1999 2004 2009 2014

Cruise passengers Long-stay tourists

Arrivals Index (1990=100)

Arrivals Index (in thousands)

Caribbean

Tourism

Trend

-4% -3% -2% -1% 0% 1% 2% 3%

Grenada

Trinidad & Tobago

Belize

Suriname

Anguilla

Guyana

Jamaica

St Vincent & Gren.

St Lucia

Montserrat

Bahamas

British Virgin Is.

Antigua & Barbuda

Haiti

Barbados

Turks & Caicos Is.

Cayman Islands

Dominica

St Kitts/Nevis

Expenditure per Visitor Annual Growth Rate

Caribbean

Connectivity

Change in Global Connectivity 2008 to 2018

Change in Regional Connectivity 2008 to 2018

Policy imperatives for Improving the

Industry Product Mix

Leveraging

tourism as a

tool for

economic

development

Organising

the tourism

industry

Developing

economic

linkages and

inclusion

Exploring

further

opportunities

for regional

collaboration

Preparing for

the industry of

the future –

embracing

digitalization

where possible

Organizing

the tourism

industry Formulating a

S.M.A.R.T. framework

for tourism

Policy and Strategy planning, institutional

strengthening, legislation and

regulation

Economic Impact of tourism and tourism

investment, human resource

development, socio-cultural

and environment impacts

Product

Development and diversification,

marketing and promotion,

tourism infrastructure and

superstructure

Developing

economic

linkages

Understanding the industry

value chain

Focusing on inclusivity to increase local

economy impact by really forging

backward and forward linkages

Exploring

opportunities

for further

collaboration

• Integration and collaborations between airlines and local hotels to increase load factor and heads in beds;

• Integration and collaborations amongst hotels region wide to take advantage of economies of scale;

• Greater inclusivity would require improved collaboration with local service and goods providers.

Preparing for the

travel and tourism

industry of the future

– embracing

digitalization where

possible

Artificial

Intelligence

VR/AR

Technology

Blockchain Human-

Computer

Interaction

New Energy

Revolution

GIS

Technology

Internet of

Things

Cloud

Computing

For a genuine smart product mix…

Travel and Tourism

Tourism

✔