Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Caribbean Destination Tourism Report Overview

The total inbound trips to the Caribbean was 16.46 million in 2022. The Caribbean destination tourism market research report provides an in-depth analysis of destination markets, infrastructure developments, and attractions. The report also offers an in-depth understanding of the Caribbean destination tourism market dynamics through SWOT analysis along with sector risk assessment. Furthermore, a comprehensive analysis of the types of travelers that visit the destination will help in ascertaining the demand side.

Key Countries ·        Cuba

·        Puerto Rico

·        Jamaica

·        Bahamas

Key Tourism Types ·        Sun and Beach Holidays

·        Visiting Friends or Family

·        City Break Holidays

·        Cultural Holidays

·        Adventure/Sport Holidays

·        Gastronomical Holidays

·        Multi-Stop Trip Holidays

·        Eco Holidays

·        Cruise

·        Wellness/Medical Holidays

·        Religious Holidays

·        Wedding Related Holidays

·        LGBTQIA+

Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Caribbean Destination Tourism Market Trends

The main purpose of travel to the Caribbean, in terms of international tourism, is leisure. Between 2015 and 2019, the number of international travelers for leisure purposes grew significantly. However, like many sectors, the performance of leisure tourism was deeply impacted due to COVID-19 restrictions. Thus, to maintain tourism demand, the governments of the Caribbean countries reduced international restrictions to welcome visitors. As a result, the market bounced back in 2023.

The countries in the Caribbean have been seeking help from travel consultants to boost the destination’s tourism profile. Therefore, the Dominican Republic has been planning on increasing flight capacity and decreasing prices through an open skies agreement with the US. As per GlobalData’s traveler demands and flows database, leisure-purpose arrivals are expected to be more than 23 million travelers by 2027.

Buy the Full Report for More Information on Caribbean Destination Tourism Trends

Download a Free Report Sample

Caribbean Destination Tourism Market Segmentation by Countries

Cuba had the maximum number of inbound trips in 2022

The key countries included in the Caribbean destination tourism sector are Cuba, Puerto Rico, Jamaica, and Bahamas among others. Cuba is one of the largest islands in the Caribbean Region. In 2023, international arrivals of the country stood at more than 4 million travelers owing to the country’s rich historical, cultural, and natural wonders such as Varadero Beach, Old Havana, Valle de Vinales, and others.

Caribbean Destination Tourism Market Analysis by Countries, 2022 (%)

Caribbean Destination Tourism Market Analysis by Countries, 2022 (%)

Buy the Full Report for More Country Insights into the Caribbean Destination Tourism Market

Download a Free Report Sample

Caribbean Destination Tourism Market Segmentation by Types

Sun and beach holidays were the most preferred holiday type in the Caribbean destination tourism market in 2021

A few of the common tourism types in the Caribbean tourism market include sun and beach, visiting friends or family (VFR), city break, culture, and adventure/sport, among others. The sun and beach vacation type held the highest market share by the tourism types, followed by VFR and city breaks, in 2021. This type has gained popularity because the Caribbean has beautiful beaches, mountains, rainforests, cuisine, and heritage cultures and ethnicities, shaped by centuries of history.

Caribbean Destination Tourism Market Analysis by Tourism Types, 2021 (%)

Caribbean Destination Tourism Market Analysis by Tourism Types, 2021 (%)

Buy the Full Report for More Insights on Tourism Types in the Caribbean Destination Tourism Market

Download a Free Report Sample

Caribbean Destination Tourism SWOT Analysis

Countries such as the US and Canada are key source markets for the Caribbean

The Dominican Republic is the largest destination market for international travelers within the Caribbean region. In 2023, the Dominican Republic accounted for more than 31% of the overall Caribbean region international arrivals. The Caribbean countries are investing in the Cruise travel industry to attract a huge number of travelers from the US and Canada. Furthermore, many countries are taking initiatives to attract cruise lines and improve travel experiences. For instance, the Dominican Republic is ready to welcome the first cruise ship of 2024 at the recently finished first phase of the Port of Cabo Rojo in Pedernales.

Buy the Full Report for More SWOT Analysis of the Caribbean Destination Tourism Market

Download a Free Report Sample

Caribbean Destination Tourism Construction Projects Overview

The proposed initiatives for tourism construction projects encompass a wide range of developments. The developments include the establishment of luxurious hotels and resorts, the creation of state-of-the-art airports and convention centers, and the construction of various infrastructures, specifically designed to cater to the needs of the tourism industry.

Disney Cruise- Lighthouse Point Cruise Port and Entertainment Facility, South Eleuthera: In the Bahamas, Disney Cruise Line (DCL) is planning to build a cruise port and entertainment facility, due to which at least 120 construction jobs and 150 well-paying operational positions will be generated by it. The million-dollar project includes the development of an entertainment complex on 317ha of land. It also includes the construction of a port facility, entertainment and leisure space, retail and commercial space, parking, and related facilities.

Buy the Full Report for More Information on Caribbean destination Tourism Construction Projects

Download a Free Report Sample

Caribbean Destination Tourism – Latest Developments

  • The Puerto Rico Airports Authority plans to expand the runway of the Rafael Hernández International Airport in Aguadilla, Puerto Rico. The objective is to provide a runway of enough length, strong pavement, and optimal conditions for the airlines and their existing and future operations at the airport.

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. The report provides:

  • An analysis of destination markets, infrastructure, and attractions.
  • Overview of risks and opportunities in the Caribbean
  • Detailed insights into 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).

Reasons to Buy

  • Gain a clear and detailed actionable insight into new developments in popular tourist destinations.
  • Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, airlines, and hotel developments.
  • Understand the opportunities in the market, as well as the risks, to support better business decisions.

Kerzner International
Melia Hotels International
Palladium Hotel Group
Palladium Hotel Group
Hilton
Royal Caribbean
Sandals Resorts International
Disney Cruise
AM Resorts

Table of Contents

Overview

Key Trends

Tourism Construction Projects

Foreign Direct Investment

COVID-19 Impact

Source Markets

Types of Tourism

Destination Focus

Risk & SWOT Analysis

Appendix

Frequently asked questions

Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update thematic reports
Currency USD
$1,495

Can be used by individual purchaser only

$2,990

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update in real time.

  • Access a live Caribbean Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2024 Update dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.