The challenge that is now facing almost every Caribbean nation is how best to recover the tourism economy without which future economic growth and sustainable tax revenues will be all but impossible.
The COVID-19 pandemic has shuttered the industry, made hundreds of thousands of workers unemployed, pushed many hotels, airlines and cruise companies into financial meltdown, and caused travellers to fear placing themselves at risk in any situation where public health cannot be guaranteed.
According to Frank Comito, the CEO and Director General of the Caribbean Hotel and Tourism Association (CHTA) 87% of Caribbean hotels have suspended operations and are not accepting guests. His initial estimates indicate that from March to mid-April the industry lost US$1.3bn in room cancellations and Caribbean Government’s total tax revenue on visitor spend may have fallen by around US$0.5bn.
