The current economic woes that large parts of the world are facing bring up interesting questions. One of them is “how robust are Caribbean tourism economies to cope with this slowdown?”
The New York Times published an interesting article explaining why people need to travel. I think it also applies to travel to the region.
There are discussions ongoing between economist as to how much the economy has slowed down or even come to a standstill. Some say there is a recession, while others dispute that. Fact of the matter is that everything points to a slowdown in the economic growth.
Naturally people are going to reduce the spending. In America [Aruba’s biggest trading partner] the biggest catalyst of the economy is the consumption by its population. Consumption of goods and services that is. Tourism is a services consumption.
Somehow people continue to travel, despite it being frustrating and expensive, according to The New York Times. With current fall of the dollar, European tourism is expected to surge, therefore offsetting the potential reduction of travelers from North America.
Please read the complete Times article.