Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update
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Caribbean Destination Tourism Report Overview
The total inbound trips to the Caribbean was 16.46 million in 2022. The Caribbean destination tourism market research report provides an in-depth analysis of destination markets, infrastructure developments, and attractions. The report also offers an in-depth understanding of the Caribbean destination tourism market dynamics through SWOT analysis along with sector risk assessment. Furthermore, a comprehensive analysis of the types of travelers that visit the destination will help in ascertaining the demand side.
· Puerto Rico
|Key Tourism Types
|· Sun and Beach Holidays
· Visiting Friends or Family
· City Break Holidays
· Cultural Holidays
· Adventure/Sport Holidays
· Gastronomical Holidays
· Multi-Stop Trip Holidays
· Eco Holidays
· Wellness/Medical Holidays
· Religious Holidays
· Wedding Related Holidays
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Caribbean Destination Tourism Market Trends
The main purpose of travel to the Caribbean, in terms of international tourism, is leisure. Between 2015 and 2019, the number of international travelers for leisure purposes grew significantly. However, like many sectors, the performance of leisure tourism was deeply impacted due to COVID-19 restrictions. Thus, to maintain tourism demand, the governments of the Caribbean countries reduced international restrictions to welcome visitors. As a result, the market bounced back in 2023.
The countries in the Caribbean have been seeking help from travel consultants to boost the destination’s tourism profile. Therefore, the Dominican Republic has been planning on increasing flight capacity and decreasing prices through an open skies agreement with the US. As per GlobalData’s traveler demands and flows database, leisure-purpose arrivals are expected to be more than 23 million travelers by 2027.
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Caribbean Destination Tourism Market Segmentation by Countries
Cuba had the maximum number of inbound trips in 2022
The key countries included in the Caribbean destination tourism sector are Cuba, Puerto Rico, Jamaica, and Bahamas among others. Cuba is one of the largest islands in the Caribbean Region. In 2023, international arrivals of the country stood at more than 4 million travelers owing to the country’s rich historical, cultural, and natural wonders such as Varadero Beach, Old Havana, Valle de Vinales, and others.
Caribbean Destination Tourism Market Analysis by Countries, 2022 (%)
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Caribbean Destination Tourism Market Segmentation by Types
Sun and beach holidays were the most preferred holiday type in the Caribbean destination tourism market in 2021
A few of the common tourism types in the Caribbean tourism market include sun and beach, visiting friends or family (VFR), city break, culture, and adventure/sport, among others. The sun and beach vacation type held the highest market share by the tourism types, followed by VFR and city breaks, in 2021. This type has gained popularity because the Caribbean has beautiful beaches, mountains, rainforests, cuisine, and heritage cultures and ethnicities, shaped by centuries of history.
Caribbean Destination Tourism Market Analysis by Tourism Types, 2021 (%)
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Caribbean Destination Tourism SWOT Analysis
Countries such as the US and Canada are key source markets for the Caribbean
The Dominican Republic is the largest destination market for international travelers within the Caribbean region. In 2023, the Dominican Republic accounted for more than 31% of the overall Caribbean region international arrivals. The Caribbean countries are investing in the Cruise travel industry to attract a huge number of travelers from the US and Canada. Furthermore, many countries are taking initiatives to attract cruise lines and improve travel experiences. For instance, the Dominican Republic is ready to welcome the first cruise ship of 2024 at the recently finished first phase of the Port of Cabo Rojo in Pedernales.
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Caribbean Destination Tourism Construction Projects Overview
The proposed initiatives for tourism construction projects encompass a wide range of developments. The developments include the establishment of luxurious hotels and resorts, the creation of state-of-the-art airports and convention centers, and the construction of various infrastructures, specifically designed to cater to the needs of the tourism industry.
Disney Cruise- Lighthouse Point Cruise Port and Entertainment Facility, South Eleuthera: In the Bahamas, Disney Cruise Line (DCL) is planning to build a cruise port and entertainment facility, due to which at least 120 construction jobs and 150 well-paying operational positions will be generated by it. The million-dollar project includes the development of an entertainment complex on 317ha of land. It also includes the construction of a port facility, entertainment and leisure space, retail and commercial space, parking, and related facilities.
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Caribbean Destination Tourism – Latest Developments
- The Puerto Rico Airports Authority plans to expand the runway of the Rafael Hernández International Airport in Aguadilla, Puerto Rico. The objective is to provide a runway of enough length, strong pavement, and optimal conditions for the airlines and their existing and future operations at the airport.
This report is part of GlobalData’s Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case, the Caribbean. The report provides:
- An analysis of destination markets, infrastructure, and attractions.
- Overview of risks and opportunities in the Caribbean
- Detailed insights into types of travelers that visit the region as well as a SWOT analysis.
Prior to COVID-19, inbound flows to the Caribbean grew at a CAGR of 3.04% between 2015 and 2019, reaching 21.57 million international arrivals in 2019. In 2023, international arrivals into the Caribbean region grew to hit pre-pandemic levels, with 23.62 million people visiting the region.
In 2023, many travelers visited the Caribbean region for leisure purposes, with 18.73 million travelers, or 82.03% of overall international arrivals, being for this purpose. As per GlobalData’s traveler demands and flows database, leisure-purpose arrivals are expected to reach 23.92 million travelers in 2027, which will contribute 79.59% of overall international travelers.
According to GlobalData’s Q4 2023 Consumer Survey, 34% of consumers worldwide said they were “very” or “extremely” worried about the pandemic’s effects on their mental health.
As per GlobalData’s traveler demands and flows database, US tourists contribute the largest share of inbound travelers to the Caribbean region, reaching 10.43 million travelers (64% of overall travelers) in 2023. This was an increase of 24.03% (2.02 million travelers) compared with 2022 (8.41 million travelers).
Reasons to Buy
- Gain a clear and detailed actionable insight into new developments in popular tourist destinations.
- Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, airlines, and hotel developments.
- Understand the opportunities in the market, as well as the risks, to support better business decisions.
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Table of Contents
Tourism Construction Projects
Foreign Direct Investment
Types of Tourism
Risk & SWOT Analysis
Frequently asked questions
Which type of holidays were mostly preferred by tourists in the Caribbean in 2021?
Sun and beach holidays were the most preferred holiday type in the Caribbean in 2021.
What are the destination tourism types preferred by tourists?
A few of the common tourism types in the Caribbean tourism market include sun and beach, visiting friends or family (VFR), city break, culture, and adventure/sport, among others.
Which country had the highest number of inbound trips in the Caribbean destination tourism market in 2022?
Cuba had the maximum number of inbound trips in 2022 in the Caribbean destination tourism market.
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