LONDON, UK, 2 Nov. 2015 – The Caribbean Tourism Organization (CTO) today launched its UK and European Travel Industry Trends & Insight Report 2015, produced in conjunction with the travel trade publication, TTG.
For the second year running the CTO has produced this report to give members and wider travel industry partners a unique insight into the key issues affecting the industry and a snapshot on developments within the Caribbean itself.
It was launched by CTO chairman Richard Sealy before an audience that included ministers and directors of tourism from the Caribbean, as well as key industry representatives attending World Travel Market (WTM).
Carol Hay, director of the Caribbean Tourism Organization said: “We are delighted to have produced this report once again and hope our partners, members and ministers find it a useful tool, particularly during the next few days at World Travel Market. Overall the picture for the Caribbean is a positive one, with an increase in visitor arrivals in the past year, however we need to be aware of universal issues that are affecting the travel industry as a whole such as currency exchange, oil prices and of course safety.”
Watch a video with Pippa Jacks on the key findings: https://youtu.be/aRrd6TdvV04
Key findings from the report include:
- The Caribbean was one of the best performing regions in the first six months of this year with visitor arrivals up 5.8 compared to a 4 per cent rise in international tourism arrivals
- The region attracted a record-setting 26.3 million tourists in 2014, which was on the back of the previous record of 25 million in 2013. Last year’s visitors contributed a total of $29.2 billion to Caribbean economies, about a third of the region’s GDP
- Destinations with the biggest year-on-year percentage increase in visitor numbers
- Cuba: +16.9% (2.2 million visitors)
- Aruba: +15.8% (680,000)
- Trinidad & Tobago: +8.5% (265,000)
- Dominican Republic +7.6% (3.4 million)
- US Virgin Islands: +6.8% (514,000)
- As for potential growth in 2016, the International Monetary Fund is currently predicting that the world’s GDP will rise by 3.8% with a continued pick-up in the advanced world economies where it is predicting a 2.4% year-on-year rise in GDP
- The UK economy is still predicted to grow. The main risks to attaining this level of economic growth are “increased market volatility” including Greece’s on-going financial problems, and “economic distress” from geopolitical factors.
- The number of multi-millionaires in Europe will continue to be higher than anywhere else in the world with around 76,000 individuals across the continent
- Online sales accounted for 66% of all global travel bookings in 2014 which was a seven point rise on previous years. Bookings at traditional travel agents have stabilised at around 24% of the total market
- 74% of all holidaymakers consider free Wi-Fi in the hotel room an important factor when booking a hotel room compared to 60% of travellers wanting a free breakfast
- The “sharing economy” continues to grow. Airbnb books 37 million room nights per year, which could rise to 129 million per annum by the end of 2016, surpassing all the major hotel chains
- Sustainable tourism continues to grow and there is more informed conversation around tourism impact management and the importance of this for achieving sustainable tourism. The Caribbean Alliance for Sustainable Tourism (CAST) gives support to tourism businesses to develop in a sustainable manner.
For further information contact Frances Amissah or Helen Coop at Four bgb
t: +44 (0) 20 3697 4200 / e: [email protected]
Alternatively, contact the Caribbean Tourism Organization on +44 (20) 8948 0057
About the Caribbean Tourism Organization
The Caribbean Tourism Organization (CTO), with headquarters in Barbados and offices in New York and London, is the Caribbean’s tourism development agency comprising membership of over 30 countries and territories including Dutch, English, French and Spanish, as well as a myriad of private sector allied members. The CTO’s vision is to position the Caribbean as the most desirable, year round, warm weather destination. Its Purpose is Leading Sustainable Tourism – One Sea, One Voice, One Caribbean.
Among the benefits to its members, the organization provides specialized support and technical assistance in sustainable tourism development, marketing, communications, advocacy, human resource development, event planning & execution, research and information technology.
In addition the CTO, in partnership with the Caribbean Hotel & Tourism Association, jointly and equally owns the Caribbean Tourism Development Company, a marketing and business development entity dedicated to promoting the Caribbean brand worldwide.
The CTO’s Headquarters is located at Baobab Tower, Warrens, St. Michael, BB 22026, Barbados; Tel: (246) 427-5242; Fax: (246) 429-3065; E-mail: [email protected].
The CTO’s New York office is located at 80 Broad St., Suite 3302, New York, NY 10004, USA: Tel: (212) 635-9530; Fax: (212) 635-9511; E-mail: [email protected];
The CTO’s London office is located at The Quadrant, Richmond, Surrey TW9 1BP, England. Tel: 011 44 208 948 0057; Fax: 011 44 208 948 0067; E-mail: [email protected];
Get the latest CTO updates on Twitter at http://www.twitter.com/ctotourism.
Connect with CTO on Facebook at http://www.facebook.com/CaribbeanTourismOrganization.