Caribbean Connection Time to Bolster Tourism Marketing
Caribbean countries relying on tourism for their economic development fortunes can rest assured that continuing investment in the sector is a wise decision.
Against a background of calls for shifting investment focus to waning traditional sectors such as agriculture and manufacturing, the travel and tourism industry is now firmly established as the largest export sector of Caribbean countries. The wonder of it is the fact that tourism generates foreign exchange and employment by improving the attractiveness and quality of life of the inhabitants of destinations.
However, bad, old habits die hard and ill-advised policymakers ignore the compelling evidence and continue to suffocate the industry’s growth by leveling onerous taxes on inputs rather than taxing the outputs or profits tourism generates. Recent employment and exports numbers in the U.S. confirm travel is a leading driver of U.S. growth and travel employment growth has outpaced the overall economy by 10 percentage points.
David Huether, senior vice president of research and economics at the U.S. Travel Association, said, “While the rest of the economy added jobs at a slower rate in March, the travel industry bucked the trend and added 7,000, or 8 percent, of the 88,000 new jobs. Direct travel employment now totals 7.7 million.”
In the first two months of this year, U.S. travel exports have risen 7.2 percent over the same period in 2012—two and a half times faster than the growth of other U.S. exports. Because of this faster growth, the travel industry has generated 17 percent of the overall increase in U.S. exports this year compared to the first two months of 2012.
“These numbers are proof positive that welcoming travelers to our shores is a powerful engine of economic growth for our country that will create more American jobs,” Huether added.
With summer travel on the horizon, Caribbean countries and territories should take heed and raise the ante on family travel during a season when business is tough for many.
Tourism’s benefits are not confined to stronger economies, according to a new survey. Family vacations create memories that last for decades, are shared across generations and bring a family closer together. Adults participating in the survey say they still have vivid memories of family vacations taken in their early childhood and surveyed children say family vacations create some of their favorite memories.
The December 2012 Harris Interactive survey, “Family Vacations Create Lasting Memories,” explores the vacation habits of American families and how memories from family vacations are valued, captured and shared. The evidence is there. The research has been done, and the data is in. It’s time to hit the road with renewed confidence that investments in travel and tourism make good sense and will create lasting memories for visitors long after they depart our shores.
Source: Amsterdam News
