The Caribbean’s vibrant tourism sector is thriving, with significant investments and new developments shaping the region’s future. This is according to the recent Construction and Investment Benchmarking Report released by the Caribbean Hotel and Tourism Association (CHTA). This detailed report provides an in-depth look at 27 Caribbean destinations, analyzing critical data like occupancy rates, average room prices, and the economic impact of tourism on GDP and job creation.
The report highlights the region’s resilience and continued appeal as a top travel destination. Nicola Madden-Greig, President of CHTA, stated, “This comprehensive report demonstrates the Caribbean’s resilience and continued appeal as a premier travel destination. The substantial investments and developments highlighted showcase the confidence in our region’s tourism future. This surge in development isn’t just about quantity – it’s about elevating the quality and diversity of our offerings.”
The report provides valuable insights for major stakeholders, including:
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Investors:
The report outlines emerging ventures, current and upcoming brands, and the broader market potential, offering valuable information for those looking to invest in the Caribbean’s hospitality industry.*
Developers:
The report provides insights into the need for infrastructure, workforce, flight capacity, and other essential elements, aiding in strategic planning and decision-making for developers.*
Policymakers:
The report underscores the importance of sustainable development within the Caribbean hospitality sector, guiding informed decisions that will influence the future of tourism and drive economic growth.*
Tourism Experts:
The report offers a comprehensive overview of the current state and future prospects of the Caribbean tourism industry, providing critical data for informed decision-making.The Construction and Investment Benchmarking Report is an invaluable resource for understanding the dynamic and attractive tourism environment of the Caribbean. It combines data from authoritative sources such as STR, ForwardKeys, the Caribbean Tourism Organization, and the World Travel and Tourism Council, delivering a comprehensive snapshot of the region’s booming tourism industry. The report is available to CHTA members and provides crucial insights for those seeking to capitalize on the opportunities presented by this thriving sector.
