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Resilience of the Caribbean Tourism Industry - New Evidence from a Firm Survey : 360 Degree Resilience Background Paper / Alvina Erman.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Erman, Alvina.
- Series:
- Other papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Climate Change Impacts.
- Coronavirus.
- COVID-19.
- Environment.
- Hazard Risk Management.
- Natural Disasters.
- Tourism and Ecotourism.
- Urban Development.
- Local Subjects:
- Climate Change Impacts.
- Coronavirus.
- COVID-19.
- Environment.
- Hazard Risk Management.
- Natural Disasters.
- Tourism and Ecotourism.
- Urban Development.
- Other Title:
- Resilience of the Caribbean Tourism Industry - New Evidence from a Firm Survey
- Place of Publication:
- Washington, D.C. : The World Bank, 2021.
- System Details:
- data file
- Summary:
- Natural hazards, including hurricanes, floods and landslides, are a common phenomenon in the Caribbean, affecting both residents and private companies. Researchers estimate probability of Caribbean country to be hit by a natural hazard as 14% in any given year, making it one of the most vulnerable regions in the world. In recent years, several super storms have devastated the region, including Hurricane Maria, Hurricane Irma, Hurricane Matthew and Tropical Storm Dorian causing immense damages. The World Travel and Tourism Council ranks the Caribbean as the most tourism-dependent region relative to the contribution of travel and tourism to gross domestic product (GDP). The sector has grown continuously since the 1970s. Between 2080 and 1995 average annual growth in tourist arrivals was 5 percent. The growth continued for the following 15 years, but average annual growth slowed to 2.4 percent. Before the COVID-19 crisis, arrivals were expected to continue to grow but slower than international average. COVID-19 has completely changed the outlook for tourism, and it is still early to tell what recovery will look like as the crisis is still unfolding.
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