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Revisiting Tourism Flows To The Caribbean
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Book Synopsis Revisiting Tourism Flows to the Caribbean by : Ms.Nicole Laframboise
Download or read book Revisiting Tourism Flows to the Caribbean written by Ms.Nicole Laframboise and published by International Monetary Fund. This book was released on 2014-12-18 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Caribbean share of the global tourism market has been declining. This study examines what is driving tourism flows. It estimates the determinants of tourism and explores variations based on sample differences, and also constructs a static nominal price comparison index. The paper finds that: (i) tourism arrivals and expenditure are sensitive to both price and income factors in source markets; (ii) price and income elasticities of tourism have declined since 2008; (iii) price elasticity is statistically insignificant for “high-end” destinations; and (iv) the nominal cost of an average one week beach holiday in the Caribbean is higher than in other beach destinations around the world. These results point to the need for structural reforms to raise product quality, cost reduction or containment in “low-end” destinations, including possibly via exchange rates, and an adjustment in aggregate consumption to adapt to the implications of a lower contribution to GDP from tourism.
Book Synopsis Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism by : Mr.Sebastian Acevedo Mejia
Download or read book Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism written by Mr.Sebastian Acevedo Mejia and published by International Monetary Fund. This book was released on 2017-04-28 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1475530455 Total Pages :34 pages Book Rating :4.4/5 (755 download)
Book Synopsis Barbados by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Barbados written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2016-08-26 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper discusses data issues and postcrisis growth in Barbados. An analysis of the data on Barbados shows very clear inconsistencies among the various measures of economic development. Although real growth seems to have evolved broadly in line with the rest of the Caribbean, nominal growth and inflation developments suggest that Barbados was hit much harder by the global financial crisis. At the same time, these data may also be misleading. Nominal GDP seems to have inadequate coverage, and inflation is much higher in Barbados than in similar economies in the region.
Book Synopsis Tourism Management in Warm-water Island Destinations by : Michelle McLeod
Download or read book Tourism Management in Warm-water Island Destinations written by Michelle McLeod and published by CABI. This book was released on 2018-01-19 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warm-water islands are a cohesive group of islands distinguished by their geography and remoteness, history as former colonial territories, and dependence on external stakeholders for their economic and social development. Warm-water island destinations also have a year-round tourism industry. These island tourism destinations are facing unprecedented adjustment challenges in the wake of increasing globalization and susceptibility to external shocks, and are in search of appropriate policy responses to that globalization. It is critical for small islands to understand how these challenges affect tourism performance and how they impact their residents. Tourism Management in Warm-water Island Destinations unearths the critical aspects that contribute to tourism development and growth in islands. Particular emphasis is placed on destinations such as the Caribbean, with lessons learned that are applicable to other island tourism contexts in the Mediterranean, Indian Ocean and the Pacific. This book provides a platform for emerging systemic perspectives of the various aspects of island tourism, with the view that strategies for the management and development of tourism in island environments can be improved and will be of interest to those studying and researching within destination management.
Book Synopsis Handbook of Caribbean Economies by : Robert Looney
Download or read book Handbook of Caribbean Economies written by Robert Looney and published by Routledge. This book was released on 2020-11-10 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume aims to illustrate the uniqueness of the economies of the countries and territories of the Caribbean as well as the similarities they share with other regions. While most countries in the region share many of the characteristics of middle-income countries, theirs is a matter of extremes. Their generally small size suggests a fragility not found elsewhere. While much of the world is beginning to feel some effects of climate change, the Caribbean is ground zero. These factors suggest a difficult road ahead, but the chapters presented in this volume aim to help to spur the search for creative solutions to the region’s problems. The chapters, written by expert contributors, examine the Caribbean economies from several perspectives. Many break new ground in questioning past policy mindsets, while developing new approaches to many of the traditional constraints limiting growth in the region. The volume is organized in four sections. Part I examines commonalities, including issues surrounding small economies, tourism, climate change and energy security. Part II looks at obstacles to sustained progress, for example debt, natural disasters and crime. In Part III chapters consider the specific role of external influences, including the USA and the European Union, the People's Republic of China, as well as regional co-operation. The volume concludes in Part IV with country case studies intended to provide a sense of the diversity that runs through the region.
Book Synopsis Modeling and Forecasting Monthly Tourism Arrivals to Aruba Since COVID-19 Pandemic by : Olga Bespalova
Download or read book Modeling and Forecasting Monthly Tourism Arrivals to Aruba Since COVID-19 Pandemic written by Olga Bespalova and published by International Monetary Fund. This book was released on 2022-11-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper improves short-term forecasting models of monthly tourism arrivals by estimating and evaluating a time-series model with exogenous regressors (ARIMA-X) using a case of Aruba, a small open tourism-dependent economy. Given importance of the US market for Aruba, it investigates informational value of Google Searches originating in the USA, flight capacity utilization on the US air-carriers, and per capita demand of the US consumers, given the volatility index in stock markets (VIX). It yields several insights. First, flight capacity is the best variable to account for the travel restrictions during the pandemic. Second, US real personal consumption expenditure becomes a more significnat predictor than income as the former better captured impact of the COVID-19 restrictions on the consumers’ behavior, while income boosted by the pandemic fiscal support was not fully directed to spending. Third, intercept correction improves the model in the estimation period. Finally, the pandemic changed econometric relationships between the tourism arrivals and their main determinants, and accuracy of the forecast models. Going forward, the analysts should re-estimate the models. Out-of-sample forecasts with 5 percent confidence intervals are produced for 18 months ahead.
Book Synopsis Flying to Paradise by : Mr.Sebastian Acevedo Mejia
Download or read book Flying to Paradise written by Mr.Sebastian Acevedo Mejia and published by International Monetary Fund. This book was released on 2016-02-23 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the role of airlift supply on the tourism sector in the Caribbean. The paper examines the relative importance of U.S.-Caribbean airlift supply factors such as the number of flights, seats, airlines, and departure cities on U.S. tourist arrivals. The possible endogeneity problem between airlift supply and tourist arrivals is addressed by using a structural panel VAR and individual country VARs. Among the four airlift supply measures, increasing the number of flights is found to be the most effective way to boost tourist arrivals on a sustained basis. As a case study, the possible crowding effect of increasing the number of U.S. flights to Cuba is investigated and, based on past observations, we find no significant impact on flights to other Caribbean countries. The impact of natural disasters on airlift supply and tourist arrivals is also quantified.
Book Synopsis Small Island and Small Destination Tourism by : Robertico Croes
Download or read book Small Island and Small Destination Tourism written by Robertico Croes and published by CRC Press. This book was released on 2022-06-30 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique and thoughtful book considers the tourism specialization, economic growth, and tourism competitiveness of a very specific type of tourism: small islands practicing warm water island tourism. This new book thoroughly examines the phenomenon of why some small island destinations have been more successful than others. The main premise applied is that success and survival of small island tourism hinges on resolving the mystery regarding the relationship between competitiveness and quality of life. In addressing this question, the book reviews four relevant and interconnected concepts: tourism, competitiveness, quality of life, and scale (or size). In doing so, the book enhances understanding of the potential of tourism for the improvement of the quality of life of the residents of small islands. In the last chapter of the book, the author assesses the impact of COVID-19 on tourism and specifically its ramifications for small island destinations. Whether small island populations can rise from beneath the COVID -19 burden that threatens their economic future is yet to be seen. Small Island and Small Destination Tourism: Overcoming the Smallness Barrier for Economic Growth and Tourism Competitiveness is written from a sustainable perspective that combines tourism dynamics, development, competitiveness, quality of life, and business. As such, it is aimed at a broad but higher-level audience including graduate students, academicians and researchers, practitioners, policymakers, and international organizations.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1498300065 Total Pages :82 pages Book Rating :4.4/5 (983 download)
Book Synopsis Eastern Caribbean Currency Union by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-02-22 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 discussion on common policies of the Eastern Caribbean Currency Union (ECCU) highlights that the member countries are gradually recovering following the catastrophic impact of Hurricanes Irma and Maria in 2017. Conditions remain favorable to growth, however, risks are increasing. The fiscal balance for the region as a whole worsened in 2017, reflecting lower inflows from citizenship-by-investment programs and higher reconstruction and current spending. The IMF team made several policy recommendations including shifting focus from the current emphasis on recovery from natural disasters to building ex-ante resilience. The report also recommends intensifying decisive and timely actions to resolve weaknesses in the financial sector, including longstanding problems in the banking sector and emerging risks in the non-banking sector. The authorities expressed commitment to the acceleration of key reforms to upgrade and strengthen the financial sector regional oversight framework. In addition to fiscal consolidation, injecting new vigor into the structural policy agenda will help enhance competitiveness and make growth more inclusive.
Book Synopsis Finance and Development, September 2015 by : International Monetary Fund. External Relations Dept.
Download or read book Finance and Development, September 2015 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2015-08-31 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finance and Development, September 2015
Book Synopsis Principality of Andorra: Selected Issues by : International Monetary
Download or read book Principality of Andorra: Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-11 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1484323106 Total Pages :71 pages Book Rating :4.4/5 (843 download)
Book Synopsis The Bahamas by : International Monetary Fund. Western Hemisphere Dept.
Download or read book The Bahamas written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-10-06 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights the continued weak economic activity in The Bahamas in 2016. Hurricane Matthew, which hit The Bahamas in October 2016, significantly impacted tourism activity in 2016 and early 2017. However, completion of the megaresort Baha Mar and posthurricane reconstruction activity gave a boost to job creation: the unemployment rate declined to 9.9 percent in May 2017. Real GDP growth is projected to pick up to 1.75 percent in 2017 and to 2.5 in 2018, driven by a stronger US economy, the phased opening of Baha Mar, and related construction activity. However, medium-term growth would remain low, reflecting significant structural bottlenecks.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 :1484304993 Total Pages :41 pages Book Rating :4.4/5 (843 download)
Book Synopsis Iceland by : International Monetary Fund. European Dept.
Download or read book Iceland written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2017-06-22 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Iceland: Selected Issues
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1475521804 Total Pages :98 pages Book Rating :4.4/5 (755 download)
Book Synopsis Regional Economic Outlook, April 2015: Western Hemisphere Department by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Regional Economic Outlook, April 2015: Western Hemisphere Department written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2015-04-29 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated among South America's commodity exporters, where falling global commodity prices have compounded country-specific challenges. Meanwhile, growth is projected to be steady or stronger for most of the Caribbean, Central America, and Mexico, supported by lower oil bills for importers and robust economic recovery in the United States. The analysis in this report examines core challenges facing the region: the impact of lower commodity prices on fiscal and external positions, the drivers of the slowdown in investment, and the role of economic diversification for longer-term growth prospects.
Book Synopsis Archipelago Tourism Revisited by : Godfrey Baldacchino
Download or read book Archipelago Tourism Revisited written by Godfrey Baldacchino and published by Taylor & Francis. This book was released on 2024-09-13 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and innovative book explores the dynamics of inter-island/island-island tourism – also known as archipelago tourism – on the cusp of the post-pandemic epoch. Embellished with illustrative maps and diagrams, the volume examines what novel approaches have been developed, if at all, so as not to repeat past mistakes, and nurture a more sustainable, 'island tourism' business model. It looks at how the political-economic relationship between main and outer islands changed during the pandemic and, if so, whether this shift has had a bearing on current tourism policy. The book also explores how these and other changes are reflected in how: islands are branded; island destinations are marketed; and island transport logistics play out. An array of archipelagos of varying sizes and locations is explored, assuring a global perspective. The book furthers our understanding of core-periphery dynamics in archipelago tourism. The volume will be of interest to students, researchers, policy makers and academics in the fields of tourism policy and planning, sustainability, island studies and development studies.
Book Synopsis Panama’s Growth Prospects by : Ms.Kimberly Beaton
Download or read book Panama’s Growth Prospects written by Ms.Kimberly Beaton and published by International Monetary Fund. This book was released on 2017-07-10 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates medium-term potential growth for a country undergoing significant structural and secular changes. Our forward-looking framework, incorporating three analytical approaches for examining economic prospects, constitutes an important complement to typical backward-looking methods that filter or extrapolate historical data. In particular, the opening of the expanded Panama Canal in 2016 highlights significant structural changes underway in the Panamanian economy. We first analyze growth determinants and find that Panama is well-placed to maintain its business model, with improvements in education and governance important to support growth. Second, the current pipeline of investment projects can help sustain investment-led growth, although at a more moderate pace. Third, further development of the logistics and tourism sectors holds promise to further build on Panama’s comparative advantage.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1513530968 Total Pages :82 pages Book Rating :4.5/5 (135 download)
Book Synopsis St. Lucia by : International Monetary Fund. Western Hemisphere Dept.
Download or read book St. Lucia written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2020-02-24 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation explains that St. Lucia’s near-term growth prospects are favorable, supported by large infrastructure investment and robust tourist inflows. However, longer-term growth continues to be impeded by high public debt, lingering vulnerabilities in the financial system, and structural impediments to private investment. Diminishing policy buffers further weaken the country’s resilience to external shocks against the backdrop of aprecarious global outlook. Completion of long pending legislative initiatives, alongside stronger regional and domestic financial oversight, should provide banks with incentives to strengthen their balance sheets and increase the efficiency of financial intermediation. There is also a need to draw on supervisory and regulatory tools to respond to emerging risks from rising overseas investments of the banks and the rapid expansion of lending by credit unions. The authorities are recommended to should step up efforts to address the institutional, financing and capacity gaps in its climate and disaster response strategy. Supply-side reforms are needed to unlock potential growth by improving the business environment, reducing energy costs, enhancing labor productivity, and further diversifying the economy.
