TOURISM - Caribbean Development Bank

TOURISM

INDUSTRY REFORM

STRATEGIES FOR ENHANCED ECONOMIC IMPACT

TOURISM INDUSTRY REFORM ? STRATEGIES FOR ENHANCED ECONOMIC IMPACT

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? Caribbean Development Bank, 2017 ISBN 978-976-95931-8-3 (pbk)

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Published by: Caribbean Development Bank

The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Caribbean Development Bank or its Board of Governors.

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CARIBBEAN DEVELOPMENT BANK

CARIBBEAN DEVELOPMENT BANK

PURPOSE "The purpose of the Bank shall be to contribute to the harmonious economic growth and development of the member countries of the Caribbean (hereinafter called the Region) and to promote economic cooperation and integration among them, having special and urgent regard to the less developed members of the Region" Article 1 -? Agreement establishing the Caribbean Development Bank

MISSON STATEMENT CDB's Mission is to be the leading catalyst in the reduction of poverty through the inclusive and sustainable development of our BMCs by mobilising development resources in an efficient, responsive and collaborative manner with accountability, integrity and excellence.

TOURISM INDUSTRY REFORM ? STRATEGIES FOR ENHANCED ECONOMIC IMPACT

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CDB Member Countries

Regional Borrowing Member Countires (BMCs)

Anguilla

Haiti

Antigua and Barbuda

Jamaica

The Bahamas

Montserrat

Barbados

Saint Lucia

Belize

St. Kitts & Nevis

British Virgin Islands

St. Vincent & the Grenadines

Cayman Islands

Suriname

Dominica

Trinidad & Tobago

Grenada

Turks & Caicos Islands

Guyana

Other Regional

Brazil Colombia

Non-regional

Canada China Germany

Mexico Venezuela

Italy United Kingdom

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CARIBBEAN DEVELOPMENT BANK

CONTENTS

ii

Tables & Figures

iii

Abbreviations

iv

Acknowledgements

v

Foreword

1

Executive Summary

4

Introduction

6

Tourism in the Borrowing Member Countries

13

Tourism and Economic Growth

19

SWOT Analysis of Tourism in the Caribbean

29

Industry Focus: Medical and Educational Tourism

37

Industry Focus: Yachting

46

Strategies for Enhancing the Economic Impact of Tourism in the BMCs

51

Appendix I: Technical Details of the Economic Impact Modelling

63

Appendix II: The Medical Tourism Index

65

Appendix III: Bibliography

TOURISM INDUSTRY REFORM ? STRATEGIES FOR ENHANCED ECONOMIC IMPACT

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