Tourism Desintation Market Insight - Caribbean (2024)

Tourism Desintation Market Insight - Caribbean (2024)

Summary

Analysis of destination markets, infrastructure, and attractions, as well as risks and opportunities in the Caribbean. This report explores the types of travelers that visit the region as well as a SWOT analysis.

Key Highlights

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).

Scope

• 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.

Reasons to Buy

• Obtain a clear and detailed insight into new developments in a highly popular tourist destination.
• Use data and analysis to explore future trends related to international arrivals, airlines, niche tourism, and hotel developments.
• Gain a strong understanding of the opportunities in the market, as well as the risks, to support better business decisions.