AIR TRANSPORT AND TOURISM · 2018. 11. 22. · Tourism Trends Travel and Tourism Industry 10.2%...
Transcript of AIR TRANSPORT AND TOURISM · 2018. 11. 22. · Tourism Trends Travel and Tourism Industry 10.2%...
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AIR TRANSPORT AND TOURISM
Mr. Ronald James Economist, Caribbean Development Bank
Smart Product Mix
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AGENDA 01 Tourism Trends
02 Caribbean Connectivity
03 Policy imperatives for Improving
the Industry Product Mix
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Global
Tourism
Trends
Travel and Tourism Industry
10.2% 6.6%
in 2016, accounted for:
Global GDP Total Exports
1950: 25 million tourists
2030: 1.8 billion
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Caribbean Tourism Trends
0.0
100.0
200.0
300.0
400.0
500.0
600.0
1990 1995 2000 2005 2010 2015
BMCs All Caribbean
Central America South America
Mexico
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1989 1994 1999 2004 2009 2014
Cruise passengers Long-stay tourists
Arrivals Index (1990=100)
Arrivals Index (in thousands)
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Caribbean
Tourism
Trend
-4% -3% -2% -1% 0% 1% 2% 3%
Grenada
Trinidad & Tobago
Belize
Suriname
Anguilla
Guyana
Jamaica
St Vincent & Gren.
St Lucia
Montserrat
Bahamas
British Virgin Is.
Antigua & Barbuda
Haiti
Barbados
Turks & Caicos Is.
Cayman Islands
Dominica
St Kitts/Nevis
Expenditure per Visitor Annual Growth Rate
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Caribbean
Connectivity
Change in Global Connectivity 2008 to 2018
Change in Regional Connectivity 2008 to 2018
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Policy imperatives for Improving the
Industry Product Mix
Leveraging
tourism as a
tool for
economic
development
Organising
the tourism
industry
Developing
economic
linkages and
inclusion
Exploring
further
opportunities
for regional
collaboration
Preparing for
the industry of
the future –
embracing
digitalization
where possible
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Organizing
the tourism
industry Formulating a
S.M.A.R.T. framework
for tourism
Policy and Strategy planning, institutional
strengthening, legislation and
regulation
Economic Impact of tourism and tourism
investment, human resource
development, socio-cultural
and environment impacts
Product
Development and diversification,
marketing and promotion,
tourism infrastructure and
superstructure
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Developing
economic
linkages
Understanding the industry
value chain
Focusing on inclusivity to increase local
economy impact by really forging
backward and forward linkages
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Exploring
opportunities
for further
collaboration
• Integration and collaborations between airlines and local hotels to increase load factor and heads in beds;
• Integration and collaborations amongst hotels region wide to take advantage of economies of scale;
• Greater inclusivity would require improved collaboration with local service and goods providers.
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Preparing for the
travel and tourism
industry of the future
– embracing
digitalization where
possible
Artificial
Intelligence
VR/AR
Technology
Blockchain Human-
Computer
Interaction
New Energy
Revolution
GIS
Technology
Internet of
Things
Cloud
Computing
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For a genuine smart product mix…
Travel and Tourism
Tourism
✔