Caribbean tourism has been showing signs of recovery in 2011, following two of the toughest years on record. But while international arrivals have been improving and returning to 2008 levels, visitors have been spending less in a market leading to worries about the sector’s diminishing profits in a still unpredictable global environment.
Tourism in the Caribbean is the region's...
A five-year EU-funded programme is helping to prevent blindness in some of the poorer countries of the Caribbean region; Guyana, Haiti, Jamaica and St. Lucia. It is being coordinated by the United Kingdom based Non-Governmental Organisation (NGO), Sightsavers International, with its partners in the Caribbean.
The multi-faceted project is funding a range of measures from the training of...
Brussels was the location picked for the annual summit of the Caribbean Tourism Organisation (CTO), 13-15 March. The intention was to draw attention of the EU to the “critically important role of tourism in the region to livelihood and poverty alleviation,” said Hugh Riley Chief Executive Officer of the Barbados-based CTO which represents 33 member countries and many private sector...
Most visitors to the Caribbean are shocked that it costs just as much to travel by air between the tropical islands as it would to North America. Is there any choice?
More than ever before Caribbean nationals have been calling for improved connections between the islands, reduced taxes on travel and an informed policy on regional travel from Governments of the CARICOM[i] trading bloc....
The Economic Partnership Agreement (EPA) with the 15 member states of the Caribbean Forum for African, Caribbean and Pacific states (CARIFORUM) is to date the only ‘full’ EPA signed with the European Union (EU). This is the reason why other ACP regions are examining its bottlenecks and benefits two years after coming on stream.
Branford Isaacs, Head of the Guyana-based...
Caribbean’s private sector gets a boost
Some leading International Financial Institutions have come together to set up a $US850M (€696M) action plan to boost private sector investment across the Caribbean region. The European Investment Bank (EIB), the Caribbean Development Bank (CDB), the Netherlands Development Finance Company (FMO), the International Finance Corporation (IFC)...
The Caribbean Export Development Agency (CEDA) is unique. It is the only region-wide export promotion body in the African, Caribbean and Pacific (ACP) group of states. The 2008 signing of the Economic Partnership Agreement (EPA) between the 15 member-state CARIFORUM* and the EU means new challenges.
Set up in 1996 by CARIFORUM states, CEDA’s brief is to strengthen...
Global financial turbulence is sending a winter chill across Caribbean tourist hotspots and 2009 appears extremely challenging as hoteliers and governments struggle to ward off a deep slump in the region’s leading industry.
© Norman Chan - BigstockPhoto.com
Adding to the economic downturn that followed the global credit crunch, record high oil prices in 2008 that increased air fares and prompted...
“More and better policies” to boost regional integration in African, Caribbean and Pacific (ACP) nations are recommended in a key paper of the European Commission’s Directorate General for Development released mid-September, with a call for the 27 EU Member States to back such policies more vigorously in their bi-lateral aid planning.
© CONCORD
Support for regional integration has been part and...
Caribbean investment experts are predicting tough times ahead for the region’s three leading equity markets in Barbados, Trinidad and Jamaica, as major economies in the United States and Europe continue to experience downturns.
© Bernard Babb
Against a background of external shocks – caused by rising energy and food costs and contraction in North Atlantic economies – leading investment firms...