The Caribbean has reported a 1% decline in travel in 2007 compared to 2006, as the region loses market share to more exotic culture-based destinations in the Far East, Middle East, Africa, Central (especially Panama and Costa Rica) and South America (Argentina, Brazil, Colombia and Peru). The United Nations World Tourism Organization Barometer bulletin for January 2008 shows that travel in the world continues strong, with an increase from 800 million to 900 million in two years, and a 6% growth rate. But the Caribbean is getting less of its share.
The UNTWTO also warns that growth is slowing to a lower pace, after four consecutive years of strong growth. Barometer explains that this is in line with the less favorable economic prospects that have started to emerge in major markets, primarily the United States.
UNWTO also reports that the Caribbean was the only sub-region in the world to record a decline (-1%) down from 3% the previous year. Canada, with its strengthening dollar, is seen as a market to watch and lure, because the Canadian dollar is now worth more than the US dollar.
Barometer says the DR received 3.98 million tourist arrivals in 2007, up from 3.96 in 2006, for a flat 0.4% increase, the lowest in years.
In the Caribbean, Jamaica hardly fared better with a 1% increase, and strong small island destinations such as St. Lucia saw a 5% decline. Barometer points out that destinations attracting travel from Canada and Europe, in addition to the US, have withstood the flux in travel better, but that the solid performance of traffic from Europe and Canada has not been enough to balance the marked declines in arrivals from the USA.