World Travel and Tourism Council (WTTC) Publishes 2011 Caribbean Travel and Tourism Economic Impact Study

The WTTC, in conjunction with its research partner Oxford Economics, and the Caribbean Hotel and Tourism Association, recently published the 2011 Caribbean Travel and Tourism Economic Impact Study.

The study confirms that the Caribbean region continues to be the most Travel & Tourism intensive region of the world, where the industry’s total contribution amounts to 14% of GDP, 13% of employment, 12% of total investment and 17% of total exports.

Economic growth in the Caribbean Travel and Tourism marketplace will face many challenges moving forward as both governments and the private sector in many developed countries seek to reduce their debts and as the prices of oil and other commodities continue to rise. However, short and long term growth projections for the region remains steady at 3.8% per annum over the next ten years.

Click here for the full report.

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