Regional tourism set to rise by 47.3% in 2021 – CARICOM Business

The World Travel & Tourism Council (WTTC) says the Caribbean’s travel and tourism sector is recovering at a faster rate than any other region in the world, with its contribution to GDP expected to rise 47.3% in 2021, relative to 30.7% globally.

The Caribbean region is expecting increased yields of nearly US$12 billion for 2021, driven by both international and domestic travel spend. However, current performance still trails 2019, where travel and tourism represented more than 14% of the region’s GDP contributing more than US$58 billion.”

Extract from CARICOM BUSINESS Vol 4 No. 42

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Source: CARICOM TODAY