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Published on : Tuesday, November 22, 2016
After the election of Donald Trump as the US President, economic experts are assessing its impact on world tourism. The Caribbean especially has expressed their concerns regarding potential economic effects post Trump presidency. The Caribbean Hotel and Tourism Association (CHTA) has stated tourism is a common denominator in the Caribbean and the US economies.
The Caribbean’s GDP is highly dependent on travel and tourism.
The CHTA said that tourism is one of the fastest growing economies of the world and in the Caribbean, it accounts to around 13% of total employment. Past economic crises had caused major delays in the Caribbean hotel and resort development. But with the increasing rate of tourism, the economy looks promising. But now, the Caribbean is anxious because with the new US presidential election, which is expected to bring changes in travel and tourism policies and implement new policies and regulations.
Many are of the opinion that Trump’s capitalized ideals on “protectionism” may cause a decline in America’s travel industry, maintaining high travel costs for US airlines. However, with successful implementation of the President’s policies might result in better economic stability for the US citizens and promote travel and tourism in other countries.
Tags: caribbean tourism