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Steady tourism growth projected.

STEADY TOURISM GROWTH PROJECTED. Caribbean tourism is expected to grow an average of more than 4% annually for the next decade, according to the World Travel & Tourism Council, reports Reuters (June 25, 2004).

Caribbean basin tourism, a vital income source for dozens of small islands whose economies have been damaged by the decline of traditional earners such as sugar and bananas, was hammered by the Sept. 11, 2001 attacks on the United States;

Travel and tourism is expected to directly account for 815,000 jobs and US$8.7 billion, or 4.5% of the Caribbean region's total gross domestic product (GDP) in 2004, said the report, commissioned by the Caribbean Hotel Association. But indirectly, the widespread impact of travel represents 2.4 million jobs, or 15.5% of employment, and $28.4 billion, or 14.8% of GDP. In the next decade, the industry is expected to see annualized growth of 4.4% in travel and tourism GDP, taking its value to US$18.4 billion directly and US$58.5 billion indirectly by 2014, the report said.;
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Title Annotation:The Region
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:50CAR
Date:Aug 1, 2004
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