Bad news for Caribbean
A survey from KPMG concludes there will be no "meaningful growth" in the Caribbean tourist market until 2014 at the earliest.
"While there are some signs that the tide may be turning, a recovery in visitor arrivals will take time to translate into a recovery for residential and mixed-use projects in the region," the survey found. "Those hoping for a quick recovery will be disappointed and will have to be patient."
The challenge for the tourist market is the "delicate and fragile" economic recovery, said MPLG, an audit and tax advisory firm.
The good news in KPMG’s annual Caribbean Region Financing Survey was that some hoteliers and destinations had a positive first quarter where there were modest rate gains and increases in occupancy.
Antigua, for one, posted an overall boost for the first three months, and in April it registered its highest hotel occupancies, 63.8%, since 2008, according to the Antigua Hotels and Tourist Association.
By David Wilkening
David
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