The ‘Arab Spring’ and the continuing unrest in the Middle East has led to many Brits opting to fly out to the Caribbean rather than spend their holidays in countries bordering the worlds trouble spots.
According to the latest tourist trends report from Hayes and Jarvis, British tourists appear to be opting for destinations they perceive as being safe from trouble and this has dampened demand for holidays in countries like Egypt and Kenya.
Jon Ainge Director of ipsbmv.com says, “This latest research can only help make investing in Caribbean property more attractive. The rising number of tourists visiting the islands will increase the potential for high yields. Occupancy levels for high end property are already at 65% at the moment, bringing yields of 21% which makes Caribbean property an investors dream.”
The report by Hayes and Jarvis highlighted record bookings for the Caribbean, Dominican Republic, Latin America and the USA. The key to this increase in demand for holidays across the Atlantic has been rock bottom prices for luxurious 3 and 4-star trips to Islands such as Barbados and St Lucia.
Bookings to the Caribbean are up 37% and as much as 800% in the Dominican Republic, while Mexico has seen bookings surge 123%.
Overall, the tourism industry generates over $20 billion a year for the Caribbean region and provides more jobs than any other industry. This latest surge in demand for holidays will come as a welcome boost, particularly to the Caribbean which was hit hard by the recent economic slowdown.
