Slow Recovery

Slow Recovery

Caribbean Jamaica Trinidad & Tobago Barbados Bahamas Economy & Policy Corporate & Sovereign Strategy

by Taina Rosa The Caribbean is seeing a glimpse of a recovery in tourism, but activity is still not strong enough to get the region’s economy growing. With tourism accounting for about 41% of the Caribbean’s GDP, according to Citi estimates, local economies are still waiting for improvements in developed markets to jumpstart the flow of dollars to the region. So far, that has not happened, and risks remain. “Tourism is very dependent on employment conditions, mainly in the US, Canada and for some countries like Barbados, the UK,” says Gabriel Torres, vice president and senior credit officer at Moody’s. “These countries’ [employment figur

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