Revisiting The Potential Impact To The Rest Of The Caribbean From Opening Us Cuba Tourism

Author : Mr.Sebastian Acevedo Mejia
Publisher : International Monetary Fund
ISBN 13 : 1475595727
Total Pages : 19 pages
Book Rating : 4.27/5 ( download)

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Download or read book Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism written by Mr.Sebastian Acevedo Mejia and published by International Monetary Fund. This book was released on 2017-04-28 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cuban revolution and the subsequent US embargo on Cuba helped shape the tourism sector in the Caribbean, facilitating the birth and growth of alternative destinations. Therefore, the apprehension of the Caribbean tourism industry towards a change in US travel policy to Cuba is understandable, but likely unwarranted. The history of tourism in the region has shown that it is possible for all destinations to grow despite large changes in market shares. Our estimations show that liberalizing US-Cuba tourism could result in US arrivals to Cuba of between 3 and 5.6 million, most of it coming from new tourists to the region. We also identify the destinations most at risk of changes in US-Cuba relations.

Author : Rafael Romeu
Publisher : International Monetary Fund
ISBN 13 : 1451870205
Total Pages : 64 pages
Book Rating : 4.06/5 ( download)

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Download or read book Vacation Over written by Rafael Romeu and published by International Monetary Fund. This book was released on 2008-07-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: An opening of Cuba to U.S. tourism would represent a seismic shift in the Caribbean's tourism industry. This study models the impact of such a potential opening by estimating a counterfactual that captures the current bilateral restriction on tourism between the two countries. After controlling for natural disasters, trade agreements, and other factors, the results show that a hypothetical liberalization of Cuba-U.S. tourism would increase long-term regional arrivals. Neighboring destinations would lose the implicit protection the current restriction affords them, and Cuba would gain market share, but this would be partially offset in the short-run by the redistribution of non-U.S. tourists currently in Cuba. The results also suggest that Caribbean countries have in general not lowered their dependency on U.S. tourists, leaving them vulnerable to this potential change.

Author : Mr.Manuk Ghazanchyan
Publisher : International Monetary Fund
ISBN 13 : 1498320813
Total Pages : 18 pages
Book Rating : 4.18/5 ( download)

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Download or read book New Insights into ECCU's Tourism Sector Competitiveness written by Mr.Manuk Ghazanchyan and published by International Monetary Fund. This book was released on 2019-07-17 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism has become the main driver of economic growth and employment and the most important source of income in the ECCU. Preserving and, possibly, enhancing the competitiveness of the tourism product is key for these countries. Unfortunately, the evidence shows that tourism arrivals to the ECCU have been declining slightly while global demand for tourism is on the rise. The objective of this paper is to study the structural determinants of competitiveness for the ECCU, defined as the relative cost advantage over other touristic regions (Di Bella, Lewis, and Martin 2007). Using a gravity model, we show that proximity to North American and European markets is indeed an important competitive advantage for the ECCU. However, despite this advantage, and, in some cases, specialization in high-end tourism, regression analysis shows that arrivals to the ECCU are sensitive to relative prices. Our simulations show that mitigating supply-side constraints would improve the ECCU’s competitiveness and allow the region to regain global market shares.

Author : Mr.Krishna Srinivasan
Publisher : International Monetary Fund
ISBN 13 : 1484315197
Total Pages : 378 pages
Book Rating : 4.94/5 ( download)

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Download or read book Unleashing Growth and Strengthening Resilience in the Caribbean written by Mr.Krishna Srinivasan and published by International Monetary Fund. This book was released on 2017-11-13 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.

Author : Richard L. Bernal
Publisher : Springer Nature
ISBN 13 : 3030569500
Total Pages : 283 pages
Book Rating : 4.01/5 ( download)

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Download or read book Corporate versus National Interest in US Trade Policy written by Richard L. Bernal and published by Springer Nature. This book was released on 2020-10-31 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a history of the WTO US-EU banana dispute through the lens of a major actor: the US-owned multinational firm, Chiquita Brands International. It documents and explains how Chiquita succeeded in having the Clinton administration pursue a trade policy of forcing the European Union to dismantle its preferential banana import regime for exports from the small English-speaking Caribbean (ESC) countries. The export of bananas was critically important to the social stability and economic viability of these countries and that was in the national security interest of the United States. The experience indicates that succeeding in this goal was detrimental to U.S. national security interest in the Caribbean.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498300065
Total Pages : 82 pages
Book Rating : 4.63/5 ( download)

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Download or read book Eastern Caribbean Currency Union written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-02-22 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 discussion on common policies of the Eastern Caribbean Currency Union (ECCU) highlights that the member countries are gradually recovering following the catastrophic impact of Hurricanes Irma and Maria in 2017. Conditions remain favorable to growth, however, risks are increasing. The fiscal balance for the region as a whole worsened in 2017, reflecting lower inflows from citizenship-by-investment programs and higher reconstruction and current spending. The IMF team made several policy recommendations including shifting focus from the current emphasis on recovery from natural disasters to building ex-ante resilience. The report also recommends intensifying decisive and timely actions to resolve weaknesses in the financial sector, including longstanding problems in the banking sector and emerging risks in the non-banking sector. The authorities expressed commitment to the acceleration of key reforms to upgrade and strengthen the financial sector regional oversight framework. In addition to fiscal consolidation, injecting new vigor into the structural policy agenda will help enhance competitiveness and make growth more inclusive.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484315448
Total Pages : 19 pages
Book Rating : 4.46/5 ( download)

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Download or read book IMF Research Bulletin, Summer 2017 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2017-08-11 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Summer 2017 issue of the IMF Research Bulletin highlights new research such as recent IMF Working Papers and Staff Discussion Notes. The Research Summaries are “Structural Reform Packages, Sequencing, and the Informal Economy (by Zsuzsa Munkacsi and Magnus Saxegaard) and “A Broken Social Contract, Not High Inequality Led to the Arab Spring” (by Shantayanan Devarajan and Elena Ianchovichina). The Q&A section features “Seven Questions on Fintech” (by Tommaso Mancini-Griffoli). The Bulletin also includes information on recommended titles from IMF Publications and the latest articles from the IMF Economic Review.

Author : Vybhavi Balasundharam
Publisher : International Monetary Fund
ISBN 13 : 1513593447
Total Pages : 23 pages
Book Rating : 4.49/5 ( download)

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Download or read book Diversion of Tourism Flows in the Asia & Pacific Region: Lessons for COVID-19 Recovery written by Vybhavi Balasundharam and published by International Monetary Fund. This book was released on 2021-08-20 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic prompted a collapse in international tourism, severely impacting the tourism-dependent economies in the Asia & Pacific region. Once countries start reopening, tourism diversion effects could accelerate the recovery in countries that establish themselves as more attractive travel destinations than competitors. We investigate the impact of previous shocks in tourism competitor countries on visitor inflows, with a particular focus on tourism-dependent Pacific Island Countries (PICs). We find that PICs were generally resilient to external shocks and benefitted from diversion effects for certain types of shocks. For example, the share of departures from Australia to PICs increased by 12 percent during the SARS outbreak. We then derive policy implications for the post-COVID-19 revival of inbound tourism to PICs and lessons for the future.

Author : Patsy Lewis
Publisher : Routledge
ISBN 13 : 1351676253
Total Pages : 310 pages
Book Rating : 4.50/5 ( download)

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Download or read book Pan-Caribbean Integration written by Patsy Lewis and published by Routledge. This book was released on 2017-12-14 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical part of the history of regionalism in Latin America and the Caribbean is to be found in the widening of the economic and functional relationships among the English-speaking Caribbean to embrace other countries in the Greater Caribbean. Bringing together a range of international experts to explain the broad thrusts of CARICOM’s widening project and the opportunities and challenges it presents, the book pays particular attention to CARICOM’s relations with the French Caribbean territories. Providing a review of the pan-Caribbean landscape this volume notes the impact of these new relationships on internal CARICOM affairs; inter-regional/South-South cooperation; and political and legislative changes in European metropoles of the non-independent territories. It also contemplates recent developments in the region and globally, such as political instability in Brazil and Venezuela, Britain’s decision to leave the European Union and the policies of the Donald Trump administration. This edited collection will be an important resource for students and researchers in Latin American and Caribbean politics, economics, development, history and heritage.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484339878
Total Pages : 134 pages
Book Rating : 4.79/5 ( download)

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Download or read book Regional Economic Outlook, April 2018, Western Hemisphere Department written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2018-05-11 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy and global trade are experiencing a broad-based cyclical upswing. Since October 2017, global growth outcomes and the outlook for 2018–19 have improved across all regions, reinforced by the expected positive near-term spillovers from tax policy changes in the United States. Accommodative global financial conditions, despite some tightening and market volatility in early February 2018, have been providing support to economic recovery. Higher commodity prices are contributing to an improved outlook for commodity exporters. The US and Canadian economies posted solid gains in 2017 and are expected to grow above potential in the near term. Despite the improved near-term outlook, however, medium-term prospects are tilted downwards. Growth prospects for advanced economies are subdued and many emerging market and developing economies are projected to grow in per capita terms more slowly than advanced economies, raising concerns about income convergence. While risks appear broadly balanced in the near term, they skew to the downside over the medium term, including a possible sharp tightening of financial conditions, waning popular support for global economic integration, growing trade tensions and risks of a shift toward protectionist policies, and geopolitical strains.